Funding you earn now, next payment 02:00 UTC+0.0808%/8h= +88.5% APRpaid last 24h +0.047%
Price spread now: Backpack against Katana Perps+0.251%7-day average +0.018% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.066%−$7 on $10k
+Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.251%, 7d avg +0.018%
=Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Backpack is 0.233% dearer against Katana Perps than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.018%. Mind the row above: over the last 4 days funding on this pair cost −0.066%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.066% in total (about -6.5% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps TAO-USD | 314.81 | 0.0118 | pay 0.0118% / 8h | 6h 18m | $2K | $710K | 5x |
| Short | Backpack TAO_USDC_PERP | 315.60 | 0.0926 | get 0.0116% / 1h | 18m 56s | $319K | $810K | 10x |
Katana Perps TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Katana Perps. 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
- $169.64
- Price spread: +0.251% → +0.018%
- $23.27
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $179.11
- Costs to cover
- 0.138%
- Break-even
- from the start
Slippage unknown: Katana Perps: no order-book sample; Backpack: live order book, 50 min ago. Net counts fees only.
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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 50 min ago | 0.16 bp | 13.4 bp −$13 | 26.0 bp −$260 | doesn't fit | doesn't fit |
Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
TAO on 42 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 314.46 | −0.111% | $126K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 314.36 | −0.142% | $10K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.72 | −0.029% | $43K | $633K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 315.68 | +0.276% | $90.6M | $467.4M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.60 | +0.251% | $26.1M | $113.0M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 315.40 | +0.187% | $12.9M | $50.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 315.72 | +0.289% | $111.6M | $139.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 315.66 | +0.270% | $18.1M | $30.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 315.49 | +0.216% | $35.2M | $53.7M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.73 | +0.292% | $35K | $300K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDCShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni TAOUSDT | +0.0100% | 1h | 315.68 | +0.276% | $47K | $252K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 315.46 | +0.206% | $57K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.41 | −0.127% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.84 | +0.010% | $129K | $472K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 315.06 | +0.079% | $3.4M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 315.70 | +0.281% | $173K | $998 | 3x | as long as short |
| Katana Perps TAO-USDlong | +0.0118% | 8h | 314.81 | long leg | $2K | $710K | 5x | |
| Polymarket Perps TAO-USD | +0.0124% | 1h | 314.81 | 0.000% | $80K | $681K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0167% | 1h | 315.35 | +0.173% | $5.6M | $20.5M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0168% / S +0.0098% | 1h | 314.27 | −0.171% | $430K | — | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0174% | 4h | 317.11 | +0.731% | $523K | $954K | 10x | as long as short |
| Bullet TAO-USD | +0.0245% | 1h | 314.66 | −0.047% | $12K | $17K | 20x | as long as short |
| Aster TAOUSDT | +0.0254% | 4h | 315.49 | +0.216% | $1.3M | $9.4M | 50x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 314.88 | +0.023% | $370K | $384K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 315.17 | +0.114% | $99K | $529K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0360% | 8h | 314.77 | −0.013% | $14K | $1K | 10x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 318.67 | +1.226% | $23K | $2K | 12x | as long as short |
| Nado TAO-PERP | +0.0525% | 1h | 314.94 | +0.041% | $786K | $2.1M | 10x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 317.30 | +0.791% | $332K | $681K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0672% | 1h | 315.07 | +0.083% | $3K | $4K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0677% | 1h | 315.38 | +0.180% | $22K | $1.5M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 314.91 | +0.032% | $362 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0780% | 4h | 315.67 | +0.273% | — | $30.9M | — | as long as short |
| Bybit TAOUSDT | +0.0842% | 4h | 315.77 | +0.305% | $66.3M | $138.0M | 50x | as long as short |
| Variational Omni TAO | +0.0845% | 4h | 315.73 | +0.291% | $5.5M | $8.9M | — | as long as short |
| Extended TAO-USD | +0.0920% | 1h | 315.70 | +0.282% | $905K | $2.3M | 25x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0926% | 1h | 315.60 | +0.251% | $319K | $810K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 316.39 | +0.502% | $1.5M | $6.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 314.88 | +0.021% | $450K | $631K | 5x | as long as short |
| Hyperliquid TAO | +0.1328% | 1h | 316.05 | +0.394% | $100.3M | $95.1M | 5x | as long as short |
| Lighter TAO | +0.1424% | 1h | 315.67 | +0.273% | $1.7M | $6.1M | 5x | as long as short |
| Bulk TAO-USD | +0.2752% | 1h | 308.95 | −1.863% | $164K | $40K | 10x | as long as short |
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Polymarket Perps TAO-USD
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
GRVT TAO_USDT_Perp
Bullet TAO-USD
Aster TAOUSDT
Pacifica TAO
Arcus TAO-USD
Paradex TAO-USD-PERP
Injective TAO/USDC PERP
Nado TAO-PERP
Phoenix TAO
01 Exchange TAOUSD
Deribit TAO_USDC-PERPETUAL
Reya TAORUSDPERP
BingX TAO-USDT
Bybit TAOUSDT
Variational Omni TAO
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO
Bulk TAO-USD