Funding you earn now, next payment 10:00 UTC+0.0049%/8h= +5.3% APRnext payment +$0.06 per $10,000 · paid last 24h −0.145%
Price spread now: Backpack against Coinbase International−0.050%52s7-day average −0.138% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$440.442% of the position
Funding, last 7 days−0.471%−$47 on $10k
+Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.050%, 7d avg −0.138%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.088% dearer against Coinbase International than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.138%. Mind the row above: over the last 7 days funding on this pair cost −0.471%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International TAO-PERP-INTX | 319.02 | 0.0688 | pay 0.0086% / 1h | 57m 13s | $1.1M | $7.7M | 50x |
| Short | Backpack TAO_USDC_PERP | 318.86 | 0.0737 | get 0.0092% / 1h | 57m 13s | $299K | $1.1M | 10x |
Coinbase International TAO-PERP-INTX
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.19
- Price spread: −0.050% → −0.138%
- $8.81
- Slippage, 4 orders
- −$24.21
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$25.21
- Costs to cover
- 0.442%
- Break-even
- 24.3 days
Slippage from Coinbase International: live order book, 5 min ago; Backpack: live order book, 5 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Coinbase International live order book, 5 min ago | 7.07 bp | 16.7 bp −$17 | 23.3 bp −$233 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 1.73 bp | 7.0 bp −$7 | 15.5 bp −$155 | doesn't fit | doesn't fit |
TAO on 43 exchanges
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 318.29 | −0.229% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 318.61 | −0.129% | $51K | $631K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.60 | −0.132% | $27.0M | $129.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.30 | −0.226% | $15.8M | $47.2M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.45 | −0.179% | $17.7M | $31.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 318.41 | −0.191% | $36.1M | $56.1M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 319.54 | +0.163% | $45K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 318.24 | −0.244% | $81K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 318.43 | −0.185% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.96 | −0.332% | $113K | $563K | 20x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDTShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex TAOUSDT | +0.0100% | 4h | 318.58 | −0.138% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0105% | 8h | 318.60 | −0.132% | $898 | $1.3M | 5x | as long as short |
| Bybit TAOUSDT | +0.0117% | 4h | 318.63 | −0.122% | $69.8M | $155.5M | 50x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 318.64 | −0.118% | $175K | $998 | 3x | as long as short |
| edgeX TAOUSDC | +0.0147% | 4h | 318.65 | −0.118% | $42K | $324K | 10x | as long as short |
| MEXC TAO_USDT | +0.0152% | 4h | 318.54 | −0.150% | $101.8M | $146.5M | 300x | as long as short |
| BingX TAO-USDT | +0.0152% | 4h | 318.66 | −0.113% | — | $37.9M | — | as long as short |
| Binance TAOUSDT | +0.0153% | 4h | 318.66 | −0.113% | $93.6M | $511.8M | 75x | as long as short |
| Paradex TAO-USD-PERP | +0.0215% | 8h | 318.78 | −0.074% | $14K | $876 | 10x | as long as short |
| Extended TAO-USD | +0.0232% | 1h | 318.50 | −0.164% | $961K | $2.1M | 25x | as long as short |
| Pacifica TAO | +0.0240% | 1h | 318.72 | −0.095% | $377K | $456K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0258% | 4h | 318.58 | −0.138% | $53K | $262K | 10x | as long as short |
| Bullet TAO-USD | +0.0273% | 1h | 318.68 | −0.106% | $12K | $17K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0296% | 4h | 319.14 | +0.038% | $544K | $824K | 10x | as long as short |
| Aster TAOUSDT | +0.0321% | 4h | 318.64 | −0.119% | $1.3M | $11.2M | 50x | as long as short |
| dYdX TAO-USD | +0.0323% | 1h | 318.44 | −0.182% | $269K | $231K | 5x | as long as short |
| Lighter TAO | +0.0344% | 1h | 318.73 | −0.092% | $1.6M | $6.6M | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0361% / S −0.0107% | 1h | 318.33 | −0.216% | $374K | — | 100x | as long as short |
| BloFin TAO-USDT | +0.0393% | 4h | 318.71 | −0.097% | $4.9M | $10.4M | 100x | as long as short |
| Variational Omni TAO | +0.0442% | 4h | 318.65 | −0.116% | $5.7M | $9.8M | — | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0519% | 1h | 318.52 | −0.157% | $15K | $1.9M | 25x | as long as short |
| Hyperliquid TAO | +0.0529% | 1h | 318.72 | −0.094% | $96.1M | $107.3M | 5x | as long as short |
| Nado TAO-PERP | +0.0534% | 1h | 318.67 | −0.109% | $704K | $2.0M | 10x | as long as short |
| Phoenix TAO | +0.0567% | 1h | 319.60 | +0.182% | $321K | $710K | 5x | as long as short |
| Arcus TAO-USD | +0.0610% | 1h | 318.92 | −0.031% | $101K | $311K | 5x | as long as short |
| RISEx TAO/USDC | +0.0666% | 1h | 319.07 | +0.014% | $441K | $682K | 5x | as long as short |
| Coinbase International TAO-PERP-INTXlong | +0.0688% | 1h | 319.02 | long leg | $1.1M | $7.7M | 50x | |
| Reya TAORUSDPERP | +0.0699% | 1h | 318.50 | −0.162% | $366 | — | 20x | as long as short |
| Bulk TAO-USD | +0.0699% | 1h | 317.67 | −0.423% | $169K | $0 | 10x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0737% | 1h | 318.86 | −0.050% | $299K | $1.1M | 10x | |
| 01 Exchange TAOUSD | +0.0856% | 1h | 318.98 | −0.013% | $3K | $2K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0925% | 1h | 318.66 | −0.114% | $6.2M | $19.5M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4405% | 1h | 322.67 | +1.144% | $23K | $2K | 12x | as long as short |
Phemex TAOUSDT
Katana Perps TAO-USD
Bybit TAOUSDT
Aevo TAO-PERP
edgeX TAOUSDC
MEXC TAO_USDT
BingX TAO-USDT
Binance TAOUSDT
Paradex TAO-USD-PERP
Extended TAO-USD
Pacifica TAO
Orderly PERP_TAO_USDC
Bullet TAO-USD
GRVT TAO_USDT_Perp
Aster TAOUSDT
dYdX TAO-USD
Lighter TAO
GMX TAO/USD [WBTC.b-USDC]
BloFin TAO-USDT
Variational Omni TAO
Deribit TAO_USDC-PERPETUAL
Hyperliquid TAO
Nado TAO-PERP
Phoenix TAO
Arcus TAO-USD
RISEx TAO/USDC
Reya TAORUSDPERP
Bulk TAO-USD
01 Exchange TAOUSD
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP