Funding you earn now, next payment 02:00 UTC+0.0752%/8h= +82.3% APRpaid last 24h +0.048%
Price spread now: Backpack against OKX+0.013%7-day average +0.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$370.373% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.082%+$8 · spread now +0.013%, 7d avg +0.072%
=Funding pays, the price is against you. Backpack is 0.059% cheaper against OKX than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.072%). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.086% in total) that is about 4.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% 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 | OKX TAO-USDT-SWAP | 308.10 | 0.0100 | pay 0.0100% / 8h | 6h 41m | $25.2M | $108.0M | 50x |
| Short | Backpack TAO_USDC_PERP | 308.14 | 0.0852 | get 0.0107% / 1h | 41m 29s | $311K | $814K | 10x |
OKX TAO-USDT-SWAP
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $157.92
- Price spread: +0.013% → +0.072%
- −$5.91
- Slippage, 4 orders
- −$17.33
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $114.69
- Costs to cover
- 0.373%
- Break-even
- 1.9 days
Slippage from OKX: live order book, 2 min ago; Backpack: live order book, 27 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 OKX live order book, 2 min ago | 1.62 bp | 8.3 bp −$8 | 18.3 bp −$183 | 65.6 bp −$6,557 | doesn't fit |
| Sell Backpack live order book, 27 min ago | 0.16 bp | 13.4 bp −$13 | 26.0 bp −$260 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 308.00 | −0.032% | $123K | $87K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 307.33 | −0.251% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 308.08 | −0.006% | $45K | $606K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 308.09 | −0.003% | $88.9M | $459.6M | 75x | as long as short |
| OKX TAO-USDT-SWAPlong | +0.0100% | 8h | 308.10 | long leg | $25.2M | $108.0M | 50x | |
| Gate TAO_USDT | +0.0100% | 4h | 307.90 | −0.065% | $12.5M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 308.19 | +0.029% | $102.4M | $137.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 308.01 | −0.029% | $17.9M | $29.9M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 308.02 | −0.026% | $34.4M | $52.8M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 309.15 | +0.339% | $34K | $298K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDCShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 309.02 | +0.299% | $515K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 309.11 | +0.328% | $46K | $268K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 307.45 | −0.211% | $56K | $283K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 307.43 | −0.217% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 307.49 | −0.198% | $126K | $471K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 307.66 | −0.143% | $169K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0116% | 8h | 308.10 | 0.000% | $630 | $678K | 5x | as long as short |
| Aster TAOUSDT | +0.0166% | 4h | 307.94 | −0.051% | $1.2M | $9.1M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0170% / S +0.0095% | 1h | 307.32 | −0.254% | $421K | — | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0172% | 1h | 307.53 | −0.187% | $5.5M | $20.3M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0194% | 1h | 307.39 | −0.231% | $15K | $1.5M | 25x | as long as short |
| Bullet TAO-USD | +0.0229% | 1h | 307.93 | −0.055% | $12K | $17K | 20x | as long as short |
| Polymarket Perps TAO-USD | +0.0240% | 1h | 308.16 | +0.019% | $77K | $643K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0275% | 8h | 308.19 | +0.029% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0285% | 1h | 308.17 | +0.023% | $364K | $378K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 308.40 | +0.097% | $81K | $551K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.16 | +0.993% | $4.4M | $10.7M | 100x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 315.63 | +2.444% | $23K | $2K | 12x | as long as short |
| Nado TAO-PERP | +0.0583% | 1h | 308.23 | +0.041% | $752K | $2.1M | 10x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 308.80 | +0.227% | $323K | $681K | 5x | as long as short |
| Phemex TAOUSDT | +0.0595% | 4h | 307.34 | −0.247% | $3.3M | $8.0M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0648% | 1h | 308.42 | +0.104% | $3K | $4K | 5x | as long as short |
| Variational Omni TAO | +0.0696% | 4h | 309.05 | +0.307% | $5.4M | $8.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 308.09 | −0.002% | $354 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0736% | 4h | 308.17 | +0.023% | — | $31.0M | — | as long as short |
| Bybit TAOUSDT | +0.0810% | 4h | 308.33 | +0.075% | $63.0M | $135.5M | 50x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0852% | 1h | 308.14 | +0.013% | $311K | $814K | 10x | |
| Extended TAO-USD | +0.0976% | 1h | 308.14 | +0.014% | $885K | $2.4M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 308.15 | +0.016% | $1.4M | $6.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 308.29 | +0.062% | $410K | $604K | 5x | as long as short |
| Hyperliquid TAO | +0.1267% | 1h | 308.42 | +0.104% | $97.8M | $93.1M | 5x | as long as short |
| Lighter TAO | +0.1376% | 1h | 308.44 | +0.109% | $1.6M | $6.0M | 5x | as long as short |
| Bulk TAO-USD | +0.3743% | 1h | 312.40 | +1.396% | $166K | $40K | 10x | as long as short |
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Katana Perps TAO-USD
Aster TAOUSDT
GMX TAO/USD [WBTC.b-USDC]
Kraken Futures PF_TAOUSD
Deribit TAO_USDC-PERPETUAL
Bullet TAO-USD
Polymarket Perps TAO-USD
Paradex TAO-USD-PERP
Pacifica TAO
Arcus TAO-USD
BloFin TAO-USDT
Injective TAO/USDC PERP
Nado TAO-PERP
Phoenix TAO
Phemex TAOUSDT
01 Exchange TAOUSD
Variational Omni TAO
Reya TAORUSDPERP
BingX TAO-USDT
Bybit TAOUSDT
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Hyperliquid TAO
Lighter TAO
Bulk TAO-USD