Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

TAO

all TAO markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 23:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.028%
Price spread now: Backpack against BingX−0.003%7-day average +0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$410.414% of the position
Long on BingXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days−0.016%−$2 on $10k
Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.003%, 7d avg +0.044%
Together, before fees−0.036%−$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.048% cheaper against BingX than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.044%). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$10 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX TAO-USDT303.590.0100pay 0.0050% / 4h1h 25m—$30.4M—
ShortBackpack TAO_USDC_PERP303.580.0440get 0.0055% / 1h25m 36s$292K$799K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against BingX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$71.33
Price spread: −0.003% → +0.044%
−$4.76
Slippage, 4 orders
−$21.38
Fee BingX: 5 bp × 2 orders
−$10
Fee Backpack: 5 bp × 2 orders
−$10
Net
$25.19
Costs to cover
0.414%
Break-even
4.5 days
Slippage from BingX: live order book, 3 min ago; Backpack: live order book, 58 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 3 min ago0.82 bp6.3 bp −$69.4 bp −$9424.2 bp −$2,42253.3 bp −$26.7K
Sell Backpack live order book, 58 min ago0.16 bp8.2 bp −$813.5 bp −$135doesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0007%1h303.31−0.093%$26K—150xas long as short
dYdX TAO-USD+0.0019%1h303.36−0.077%$124K$85K5xas long as short
Popdex TAOUSDT+0.0096%1h303.65+0.020%$45K$538K20xas long as short
Aster TAOUSDT+0.0100%4h303.55−0.013%$1.1M$7.7M50xas long as short
Binance TAOUSDT+0.0100%4h303.51−0.028%$84.9M$414.2M75xas long as short
Bybit TAOUSDT+0.0100%4h303.67+0.026%$58.7M$121.2M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h303.60+0.003%$24.4M$94.7M50xas long as short
Arcus TAO-USD+0.0100%1h303.96+0.122%$79K$643K5xas long as short
Bulk TAO-USD+0.0100%1h303.38−0.071%$162K$54K10xas long as short
Gate TAO_USDT+0.0100%4h303.40−0.063%$12.1M$48.9M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC TAO_USDT+0.0100%4h303.60+0.003%$111.4M$125.3M300xas long as short
KuCoin TAOUSDTM+0.0100%4h303.50−0.030%$18.4M$27.2M75xas long as short
Bitget TAOUSDT+0.0100%4h303.42−0.056%$33.9M$46.0M50xas long as short
BingX TAO-USDTlong+0.0100%4h303.59long leg—$30.4M—
Variational Omni TAO+0.0100%4h303.79+0.065%$3.7M$6.7M—as long as short
edgeX TAOUSDC+0.0100%4h303.78+0.064%$39K$277K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h303.76+0.055%$502K$967K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h303.79+0.066%$74K$580K5xas long as short
Bullet TAO-USD+0.0100%1h303.57−0.007%$11K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h303.68+0.030%$58K$276K10xas long as short
SunX TAO-USDT+0.0100%4h303.61+0.007%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h303.77+0.059%$122K$364K20xas long as short
Phemex TAOUSDT+0.0100%4h303.62+0.010%$3.2M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h303.72+0.044%$167K$9983xas long as short
Katana Perps TAO-USD+0.0111%8h303.77+0.059%$1K$501K5xas long as short
ApeX Omni TAOUSDT+0.0112%1h303.77+0.059%$46K$269K50xas long as short
Paradex TAO-USD-PERP+0.0156%8h303.50−0.031%$14K$1K10xas long as short
Pacifica TAO+0.0164%1h303.61+0.007%$359K$372K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h303.30−0.094%$433K—100xas long as short
Deribit TAO_USDC-PERPETUAL+0.0339%1h303.71+0.041%$22K$1.4M25xas long as short
Nado TAO-PERP+0.0340%1h303.48−0.035%$819K$1.9M10xas long as short
BloFin TAO-USDT+0.0340%4h303.15−0.145%$4.2M$9.3M100xas long as short
Lighter TAO+0.0376%1h303.72+0.042%$1.6M$5.3M5xas long as short
01 Exchange TAOUSD+0.0400%1h303.75+0.053%$3K$4K5xas long as short
Backpack TAO_USDC_PERPshort+0.0440%1h303.58−0.003%$292K$799K10x
Phoenix TAO+0.0521%1h303.50−0.030%$321K$491K5xas long as short
Reya TAORUSDPERP+0.0695%1h303.68+0.029%$349—20xas long as short
Extended TAO-USD+0.0816%1h303.67+0.027%$825K$2.0M25xas long as short
Coinbase International TAO-PERP-INTX+0.1008%1h304.46+0.287%$1.5M$5.6M50xas long as short
Kraken Futures PF_TAOUSD+0.1040%1h303.64+0.016%$5.7M$19.7M50xas long as short
Hyperliquid TAO+0.1056%1h303.97+0.125%$92.3M$80.5M5xas long as short
RISEx TAO/USDC+0.1155%1h304.03+0.143%$411K$543K5xas long as short
Injective TAO/USDC PERP+0.1621%1h308.73+1.693%$22K$26412xas long as short