Funding you earn now, next payment 01:00 UTC−0.0245%/8h= −26.9% APRnext payment −$0.31 per $10,000 · paid last 24h +0.001%
Price spread now: Backpack against Extended+0.059%48s7-day average +0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as 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−$280.280% of the position
Funding, last 7 days−0.053%−$5 on $10k
+Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.059%, 7d avg +0.091%
=Together, before fees+0.002%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Backpack is 0.032% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.091%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended TAO-USD | 319.70 | 0.1144 | pay 0.0143% / 1h | 33m 20s | $936K | $2.2M | 25x |
| Short | Backpack TAO_USDC_PERP | 319.89 | 0.0899 | get 0.0112% / 1h | 33m 20s | $323K | $819K | 10x |
Extended TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Extended. 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
- −$51.51
- Price spread: +0.059% → +0.091%
- −$3.18
- Slippage, 4 orders
- −$13.02
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$82.71
- Costs to cover
- 0.280%
- Break-even
- never at this rate
Slippage from Extended: live order book, 5 min ago; Backpack: live order book, 41 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 Extended live order book, 5 min ago | 3.78 bp | 6.3 bp −$6 | 7.9 bp −$79 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 41 min ago | 2.57 bp | 7.9 bp −$8 | 128.6 bp −$1,286 | doesn't fit | doesn't fit |
TAO on 43 venues
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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1322% | 1h | 319.84 | +0.043% | $170K | $44K | 10x | as long as short |
| Phemex TAOUSDT | −0.1078% | 4h | 319.49 | −0.066% | $3.4M | $7.9M | 50x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 320.12 | +0.131% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.58 | −0.038% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 320.14 | +0.137% | $42K | $589K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 319.86 | +0.049% | $92.1M | $446.3M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.80 | +0.031% | $26.2M | $108.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.90 | +0.062% | $13.0M | $50.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 320.02 | +0.099% | $108.4M | $134.3M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.93 | +0.071% | $18.3M | $29.1M | 75x | as long as short |
Bulk TAO-USD
Phemex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 320.03 | +0.103% | $35.7M | $50.3M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 319.52 | −0.058% | $40K | $293K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.79 | +0.028% | $58K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.38 | −0.101% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.62 | −0.026% | $128K | $424K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0104% | 4h | 320.01 | +0.095% | $529K | $969K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.82 | +0.037% | $176K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 320.14 | +0.137% | $1K | $619K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0135% | 1h | 319.58 | −0.037% | $18K | $1.6M | 25x | as long as short |
| Bullet TAO-USD | +0.0172% | 1h | 319.86 | +0.049% | $12K | $17K | 20x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0173% / S +0.0089% | 1h | 319.58 | −0.038% | $464K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 320.25 | +0.171% | $379K | $374K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 320.63 | +0.290% | $85K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0236% | 4h | 320.05 | +0.108% | $1.1M | $8.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0243% | 8h | 320.21 | +0.159% | $15K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 319.99 | +0.090% | $4.5M | $10.9M | 100x | as long as short |
| ApeX Omni TAOUSDT | +0.0344% | 1h | 319.23 | −0.148% | $48K | $266K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0348% | 1h | 320.24 | +0.168% | $94K | $638K | 5x | as long as short |
| Variational Omni TAO | +0.0398% | 4h | 320.33 | +0.195% | $5.6M | $8.7M | — | as long as short |
| BingX TAO-USDT | +0.0428% | 4h | 320.01 | +0.096% | — | $30.5M | — | as long as short |
| Bybit TAOUSDT | +0.0469% | 4h | 320.11 | +0.128% | $65.8M | $133.0M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0479% | 1h | 319.72 | +0.005% | $5.8M | $20.3M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 320.00 | +0.093% | $335K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 319.79 | +0.028% | $23K | $666 | 12x | as long as short |
| 01 Exchange TAOUSD | +0.0664% | 1h | 320.08 | +0.118% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 320.00 | +0.094% | $368 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0758% | 1h | 320.20 | +0.155% | $894K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0899% | 1h | 319.89 | +0.059% | $323K | $819K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.73 | +0.322% | $1.5M | $6.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 320.29 | +0.183% | $426K | $600K | 5x | as long as short |
| Extended TAO-USDlong | +0.1144% | 1h | 319.70 | long leg | $936K | $2.2M | 25x | |
| Lighter TAO | +0.1440% | 1h | 320.69 | +0.309% | $1.7M | $6.0M | 5x | as long as short |
| Hyperliquid TAO | +0.2319% | 1h | 320.57 | +0.272% | $103.6M | $90.8M | 5x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
GRVT TAO_USDT_Perp
Aevo TAO-PERP
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Bullet TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
BloFin TAO-USDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Variational Omni TAO
BingX TAO-USDT
Bybit TAOUSDT
Kraken Futures PF_TAOUSD
Phoenix TAO
Injective TAO/USDC PERP
01 Exchange TAOUSD
Reya TAORUSDPERP
Nado TAO-PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO