Funding you earn now, next payment 01:00 UTC−0.0332%/8h= −36.4% APRnext payment −$0.42 per $10,000 · paid last 24h −0.039%
Price spread now: ApeX Omni against Backpack+0.525%7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs+$10as in the Price arb table
costs, in and out, $10k−$440.441% of the position
Funding, last 7 days−0.012%−$1 on $10k
+Price spread, last 3 days (all we have)−0.450%−$45 · spread now +0.525%, 7d avg −0.018%
=The price spread pays, funding is against you. ApeX Omni is 0.542% dearer against Backpack than usual: you sell high and buy low (spread +0.525% now, against its 7-day average of −0.018%): +$54 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 5.4 days. At the pace of the last 7 days (−0.012% in total) that is about 11 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.012% in total (about -0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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 | Backpack TAO_USDC_PERP | 318.33 | 0.0884 | pay 0.0111% / 1h | 30m 58s | $322K | $819K | 10x |
| Short | ApeX Omni TAOUSDT | 320.00 | 0.0552 | get 0.0069% / 1h | 30m 58s | $48K | $266K | 50x |
Backpack TAO_USDC_PERP
ApeX Omni TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Backpack. 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
- −$69.73
- Price spread: +0.525% → −0.018%
- $54.24
- Slippage, 4 orders
- −$24.13
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$59.62
- Costs to cover
- 0.441%
- Break-even
- from the start
Slippage from Backpack: live order book, 43 min ago; ApeX Omni: 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 Backpack live order book, 43 min ago | 2.57 bp | 7.6 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 41 min ago | 6.24 bp | 14.7 bp −$15 | 133.1 bp −$1,331 | 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 | +0.474% | $170K | $44K | 10x | as long as short |
| Phemex TAOUSDT | −0.0198% | 4h | 317.95 | −0.119% | $3.4M | $7.8M | 50x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 318.42 | +0.029% | $127K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 317.64 | −0.215% | $21K | — | 150x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0042% | 1h | 317.75 | −0.182% | $17K | $1.5M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 318.05 | −0.088% | $41K | $590K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 317.63 | −0.220% | $91.5M | $447.3M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 317.60 | −0.229% | $26.0M | $108.3M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 317.60 | −0.229% | $12.9M | $50.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 317.80 | −0.166% | $108.2M | $134.6M | 300x | as long as short |
Bulk TAO-USD
Phemex TAOUSDT
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.06 | −0.085% | $18.1M | $29.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 318.10 | −0.072% | $35.5M | $50.6M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 319.52 | +0.373% | $40K | $293K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 317.87 | −0.145% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 317.63 | −0.220% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 318.60 | +0.085% | $127K | $424K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0104% | 4h | 320.01 | +0.527% | $529K | $969K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 318.16 | −0.053% | $175K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0114% | 8h | 318.18 | −0.047% | $736 | $621K | 5x | as long as short |
| Bullet TAO-USD | +0.0154% | 1h | 318.17 | −0.052% | $12K | $17K | 20x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0173% / S +0.0089% | 1h | 318.02 | −0.099% | $461K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 318.27 | −0.019% | $377K | $374K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 318.43 | +0.031% | $84K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0232% | 4h | 318.13 | −0.062% | $1.1M | $8.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0239% | 8h | 318.28 | −0.015% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0323% | 1h | 318.46 | +0.041% | $93K | $638K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 318.00 | −0.104% | $4.5M | $10.8M | 100x | as long as short |
| BingX TAO-USDT | +0.0428% | 4h | 317.64 | −0.217% | — | $30.5M | — | as long as short |
| Bybit TAOUSDT | +0.0436% | 4h | 317.74 | −0.185% | $65.3M | $132.9M | 50x | as long as short |
| Variational Omni TAO | +0.0436% | 4h | 318.35 | +0.005% | $5.5M | $8.7M | — | as long as short |
| Kraken Futures PF_TAOUSD | +0.0482% | 1h | 317.76 | −0.178% | $5.7M | $20.3M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 320.00 | +0.525% | $335K | $624K | 5x | as long as short |
| ApeX Omni TAOUSDTshort | +0.0552% | 1h | 320.00 | +0.525% | $48K | $266K | 50x | |
| Injective TAO/USDC PERP | +0.0571% | 1h | 322.97 | +1.458% | $23K | $678 | 12x | as long as short |
| 01 Exchange TAOUSD | +0.0648% | 1h | 318.30 | −0.009% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 318.26 | −0.021% | $366 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0790% | 1h | 318.27 | −0.018% | $889K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0884% | 1h | 318.33 | long leg | $322K | $819K | 10x | |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 318.85 | +0.163% | $1.5M | $6.3M | 50x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 318.21 | −0.036% | $423K | $600K | 5x | as long as short |
| Extended TAO-USD | +0.1152% | 1h | 318.11 | −0.069% | $927K | $2.3M | 25x | as long as short |
| Lighter TAO | +0.1384% | 1h | 318.46 | +0.040% | $1.7M | $6.0M | 5x | as long as short |
| Hyperliquid TAO | +0.2228% | 1h | 318.73 | +0.126% | $102.8M | $90.9M | 5x | as long as short |
KuCoin TAOUSDTM
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
Bullet TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
BloFin TAO-USDT
BingX TAO-USDT
Bybit TAOUSDT
Variational Omni TAO
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
Extended TAO-USD
Lighter TAO
Hyperliquid TAO