Funding you earn now, next payment 00:00 UTC−0.0444%/8h= −48.6% APRpaid last 24h −0.036%
Price spread now: Bitget against Backpack+0.051%49s7-day average −0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as 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−$390.390% of the position
Funding, last 7 days−0.006%−$1 on $10k
+Price spread, last 4 days (all we have)−0.095%−$9 · spread now +0.051%, 7d avg −0.077%
=The price spread pays, funding is against you. Bitget is 0.128% dearer against Backpack than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.077%): +$13 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.006% in total) that is about 5 months. The two prices were read 49 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 -0.006% in total (about -0.3% 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 | Backpack TAO_USDC_PERP | 313.17 | 0.0544 | pay 0.0068% / 1h | 51m 10s | $300K | $798K | 10x |
| Short | Bitget TAOUSDT | 313.33 | 0.0100 | get 0.0050% / 4h | 51m 10s | $35.1M | $46.1M | 50x |
Backpack TAO_USDC_PERP
Bitget TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$93.17
- Price spread: +0.051% → −0.077%
- $12.84
- Slippage, 4 orders
- −$16.99
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$119.32
- Costs to cover
- 0.390%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 28 min ago; Bitget: live order book, 3 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, 28 min ago | 1.96 bp | 7.0 bp −$7 | 40.6 bp −$406 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 0.64 bp | 13.2 bp −$13 | 24.6 bp −$246 | 34.9 bp −$3,488 | 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 | −0.1120% | 1h | 305.94 | −2.309% | $164K | $52K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 313.46 | +0.091% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.24 | +0.023% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 308.73 | −1.418% | $22K | $259 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.58 | +0.131% | $40K | $549K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 313.53 | +0.115% | $370K | $370K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.56 | +0.125% | $88.8M | $421.1M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 313.60 | +0.137% | $61.2M | $123.2M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 313.40 | +0.073% | $25.1M | $99.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 313.30 | +0.042% | $12.5M | $48.6M | 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
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 | 313.53 | +0.115% | $120.5M | $126.0M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.68 | +0.163% | $19.2M | $27.5M | 75x | as long as short |
| Bitget TAOUSDTshort | +0.0100% | 4h | 313.33 | +0.051% | $35.1M | $46.1M | 50x | |
| BingX TAO-USDT | +0.0100% | 4h | 313.47 | +0.096% | — | $30.3M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.17 | +0.318% | $41K | $279K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 314.25 | +0.346% | $520K | $950K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 312.22 | −0.303% | $47K | $269K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 313.42 | +0.080% | $60K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.29 | +0.038% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 313.52 | +0.112% | $128K | $393K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 313.16 | −0.003% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 313.46 | +0.094% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 313.38 | +0.067% | $2K | $536K | 5x | as long as short |
| Bullet TAO-USD | +0.0113% | 1h | 313.57 | +0.128% | $11K | $17K | 20x | as long as short |
| Polymarket Perps TAO-USD | +0.0120% | 1h | 313.65 | +0.153% | $77K | $524K | 5x | as long as short |
| Variational Omni TAO | +0.0177% | 4h | 314.40 | +0.394% | $3.9M | $6.9M | — | as long as short |
| Paradex TAO-USD-PERP | +0.0185% | 8h | 313.54 | +0.119% | $14K | $1K | 10x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 313.84 | +0.214% | $81K | $644K | 5x | as long as short |
| Aster TAOUSDT | +0.0202% | 4h | 313.39 | +0.069% | $1.1M | $7.8M | 50x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.65 | +0.153% | $4.3M | $9.7M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0448% | 1h | 313.45 | +0.091% | $5.8M | $19.8M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0468% | 1h | 313.48 | +0.098% | $19K | $1.4M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0476% / S −0.0175% | 1h | 313.20 | +0.011% | $449K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0483% | 1h | 313.40 | +0.074% | $839K | $2.0M | 10x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 312.70 | −0.150% | $327K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0544% | 1h | 313.17 | long leg | $300K | $798K | 10x | |
| Reya TAORUSDPERP | +0.0695% | 1h | 313.50 | +0.104% | $361 | — | 20x | as long as short |
| Extended TAO-USD | +0.0800% | 1h | 313.39 | +0.071% | $864K | $2.1M | 25x | as long as short |
| 01 Exchange TAOUSD | +0.0848% | 1h | 313.98 | +0.259% | $3K | $4K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 313.78 | +0.195% | $1.5M | $5.7M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 313.75 | +0.185% | $432K | $536K | 5x | as long as short |
| Lighter TAO | +0.1312% | 1h | 313.89 | +0.232% | $1.7M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.2236% | 1h | 314.14 | +0.310% | $98.3M | $82.7M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Bullet TAO-USD
Polymarket Perps TAO-USD
Variational Omni TAO
Paradex TAO-USD-PERP
Arcus TAO-USD
Aster TAOUSDT
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Phoenix TAO
Reya TAORUSDPERP
Extended TAO-USD
01 Exchange TAOUSD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO