Funding you earn now, next payment 00:00 UTC−0.0349%/8h= −38.3% APRpaid last 24h −0.137%
Price spread now: Bybit against Kraken Futures+0.155%55s7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as 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−$400.404% of the position
Funding, last 7 days−0.187%−$19 on $10k
+Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.155%, 7d avg −0.025%
=The price spread pays, funding is against you. Bybit is 0.180% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.155% now, against its 7-day average of −0.025%): +$18 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 7 days (−0.187% in total) that is about 6.7 days. The two prices were read 55 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 -0.187% in total (about -9.8% 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 | Kraken Futures PF_TAOUSD | 312.57 | 0.0449 | pay 0.0056% / 1h | 39m 28s | $5.7M | $19.9M | 50x |
| Short | Bybit TAOUSDT | 313.05 | 0.0100 | get 0.0050% / 4h | 39m 28s | $61.4M | $124.0M | 50x |
Kraken Futures PF_TAOUSD
Bybit TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Kraken Futures. 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
- −$73.38
- Price spread: +0.155% → −0.025%
- $18
- Slippage, 4 orders
- −$19.35
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$95.74
- Costs to cover
- 0.404%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Bybit: 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 Kraken Futures live order book, 5 min ago | 4.47 bp | 9.9 bp −$10 | 32.9 bp −$329 | 91.4 bp −$9,135 | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.16 bp | 11.0 bp −$11 | 18.4 bp −$184 | 47.4 bp −$4,737 | 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 | −0.4478% | 1h | 313.97 | +0.449% | $168K | $48K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 312.64 | +0.024% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 312.85 | +0.090% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 314.39 | +0.584% | $23K | $260 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.25 | +0.219% | $41K | $552K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 313.17 | +0.193% | $371K | $369K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.08 | +0.164% | $88.6M | $425.1M | 75x | as long as short |
| Bybit TAOUSDTshort | +0.0100% | 4h | 313.05 | +0.155% | $61.4M | $124.0M | 50x | |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.90 | +0.107% | $25.1M | $100.7M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 312.90 | +0.107% | $12.7M | $49.3M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 313.08 | +0.164% | $120.4M | $127.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.08 | +0.164% | $19.0M | $27.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 312.80 | +0.075% | $34.9M | $46.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 313.10 | +0.171% | — | $30.2M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 312.40 | −0.052% | $40K | $279K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 312.53 | −0.011% | $526K | $948K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 312.93 | +0.116% | $60K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.26 | −0.098% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.79 | +0.072% | $128K | $395K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.53 | −0.012% | $3.3M | $7.9M | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 313.14 | +0.183% | $11K | $17K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.86 | +0.093% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 313.28 | +0.228% | $2K | $541K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0116% | 1h | 313.26 | +0.222% | $77K | $520K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0118% | 1h | 312.28 | −0.091% | $47K | $270K | 50x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 313.44 | +0.280% | $83K | $626K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0187% | 8h | 313.06 | +0.159% | $14K | $1K | 10x | as long as short |
| Variational Omni TAO | +0.0194% | 4h | 312.41 | −0.051% | $3.9M | $7.0M | — | as long as short |
| Aster TAOUSDT | +0.0198% | 4h | 313.05 | +0.155% | $1.1M | $7.9M | 50x | as long as short |
| BloFin TAO-USDT | +0.0351% | 4h | 312.42 | −0.047% | $4.3M | $10.2M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0375% | 1h | 312.72 | +0.048% | $19K | $1.4M | 25x | as long as short |
| Kraken Futures PF_TAOUSDlong | +0.0449% | 1h | 312.57 | long leg | $5.7M | $19.9M | 50x | |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0476% / S −0.0175% | 1h | 312.80 | +0.076% | $449K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0509% | 1h | 313.26 | +0.223% | $830K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0537% | 1h | 312.70 | +0.043% | $300K | $799K | 10x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 312.80 | +0.075% | $327K | $521K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 313.02 | +0.145% | $360 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0720% | 1h | 313.50 | +0.299% | $3K | $4K | 5x | as long as short |
| Extended TAO-USD | +0.0864% | 1h | 313.15 | +0.187% | $863K | $2.1M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 314.64 | +0.664% | $1.5M | $5.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 313.46 | +0.288% | $432K | $548K | 5x | as long as short |
| Lighter TAO | +0.1352% | 1h | 313.56 | +0.317% | $1.6M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.1893% | 1h | 313.59 | +0.328% | $97.6M | $83.2M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Bullet TAO-USD
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
ApeX Omni TAOUSDT
Arcus TAO-USD
Paradex TAO-USD-PERP
Variational Omni TAO
Aster TAOUSDT
BloFin TAO-USDT
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Backpack TAO_USDC_PERP
Phoenix TAO
Reya TAORUSDPERP
01 Exchange TAOUSD
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO