Funding you earn now, next payment 05:00 UTC+0.0801%/8h= +87.7% APRnext payment +$1.00 per $10,000 · paid last 24h −0.083%
Price spread now: Deribit against Kraken Futures+0.013%7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$400.398% of the position
Funding, last 7 days−0.392%−$39 on $10k
+Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.013%, 7d avg −0.026%
=Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Deribit is 0.039% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.026%. Mind the row above: over the last 7 days funding on this pair cost −0.392%, 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 7 days it paid -0.392% in total (about -20.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.00 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 | Kraken Futures PF_TAOUSD | 311.35 | −0.0349 | get 0.0044% / 1h | 42m 26s | $5.5M | $20.7M | 50x |
| Short | Deribit TAO_USDC-PERPETUAL | 311.39 | 0.0452 | get 0.0056% / 1h | 42m 26s | $24K | $1.8M | 25x |
Kraken Futures PF_TAOUSD
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $168.14
- Price spread: +0.013% → −0.026%
- $3.93
- Slippage, 4 orders
- −$22.77
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $132.3
- Costs to cover
- 0.398%
- Break-even
- 1.5 days
Slippage from Kraken Futures: live order book, 2 min ago; Deribit: live order book, 2 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, 2 min ago | 5.78 bp | 11.1 bp −$11 | 20.9 bp −$209 | 94.0 bp −$9,404 | doesn't fit |
| Sell Deribit live order book, 2 min ago | 0.16 bp | 3.7 bp −$4 | 12.3 bp −$123 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_TAOUSDlong | −0.0349% | 1h | 311.35 | long leg | $5.5M | $20.7M | 50x | |
| dYdX TAO-USD | 0.0000% | 1h | 310.65 | −0.226% | $124K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 311.12 | −0.075% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 310.51 | −0.271% | $46K | $656K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 310.42 | −0.300% | $635 | $818K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 310.79 | −0.181% | $355K | $413K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 310.48 | −0.281% | $89.1M | $498.7M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 310.43 | −0.296% | $66.8M | $150.1M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 310.30 | −0.338% | $25.8M | $119.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 310.40 | −0.306% | $12.9M | $49.6M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Katana Perps TAO-USD
Pacifica TAO
Binance TAOUSDT
Bybit 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 | 310.53 | −0.264% | $100.8M | $144.3M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 310.59 | −0.245% | $17.7M | $31.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 310.14 | −0.389% | $34.7M | $56.6M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 310.63 | −0.232% | — | $33.1M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 312.19 | +0.270% | $41K | $314K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 311.95 | +0.191% | $529K | $955K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 311.85 | +0.160% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 310.52 | −0.267% | $82K | $870K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 310.64 | −0.229% | $11K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 311.33 | −0.007% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 310.93 | −0.136% | $109K | $537K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 311.47 | +0.038% | $171K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0114% | 4h | 311.27 | −0.027% | $52K | $270K | 10x | as long as short |
| Aster TAOUSDT | +0.0115% | 4h | 310.80 | −0.177% | $1.2M | $10.4M | 50x | as long as short |
| Bulk TAO-USD | +0.0125% | 1h | 311.89 | +0.173% | $166K | $333 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0141% / S +0.0131% | 1h | 311.08 | −0.087% | $415K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0143% | 8h | 310.71 | −0.206% | $14K | $1K | 10x | as long as short |
| Extended TAO-USD | +0.0192% | 1h | 310.60 | −0.242% | $913K | $2.4M | 25x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 311.18 | −0.055% | $101K | $394K | 5x | as long as short |
| Hyperliquid TAO | +0.0238% | 1h | 310.50 | −0.272% | $91.1M | $107.3M | 5x | as long as short |
| Nado TAO-PERP | +0.0284% | 1h | 310.57 | −0.250% | $789K | $2.2M | 10x | as long as short |
| Variational Omni TAO | +0.0324% | 4h | 312.10 | +0.240% | $5.5M | $10.0M | — | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.44 | +0.028% | $4.5M | $10.7M | 100x | as long as short |
| Backpack TAO_USDC_PERP | +0.0415% | 1h | 311.56 | +0.067% | $309K | $906K | 10x | as long as short |
| Lighter TAO | +0.0416% | 1h | 310.97 | −0.124% | $1.5M | $6.5M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0432% | 1h | 310.69 | −0.213% | $3K | $4K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUALshort | +0.0452% | 1h | 311.39 | +0.013% | $24K | $1.8M | 25x | |
| Phoenix TAO | +0.0457% | 1h | 312.50 | +0.369% | $311K | $711K | 5x | as long as short |
| Phemex TAOUSDT | +0.0661% | 4h | 311.54 | +0.060% | $3.2M | $8.1M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 310.45 | −0.290% | $357 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 310.67 | −0.219% | $436K | $658K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 312.01 | +0.211% | $1.5M | $6.8M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 317.38 | +1.936% | $23K | $2K | 12x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Aster TAOUSDT
Bulk TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Extended TAO-USD
Arcus TAO-USD
Hyperliquid TAO
Nado TAO-PERP
Variational Omni TAO
BloFin TAO-USDT
Backpack TAO_USDC_PERP
Lighter TAO
01 Exchange TAOUSD
Phoenix TAO
Phemex TAOUSDT
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP