TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0671%/8h= −73.5% APRnext payment −$0.84 per $10,000 · paid last 24h −0.048%

Price spread now: Bullet against Backpack−0.319%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Bullet is 0.319% cheaper against Backpack than usual: you would sell low and buy high (−$32 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	310.63	0.0894	pay 0.0112% / 1h	47m 29s	$314K	$816K	10x
Short	Bullet TAO-USD	309.64	0.0223	get 0.0028% / 1h	47m 29s	$12K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee BulletbpOrdersPrice spread, now −0.319%Rate

Funding earned: −$140.89
Price spread: −0.319% → 0.000%: −$31.87
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$190.76
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 21 min ago; Bullet: no order-book sample. Net counts fees only.

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, 21 min ago	0.16 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	309.14	−0.479%	$124K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	309.09	−0.495%	$12K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	309.64	−0.319%	$47K	$618K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	309.47	−0.373%	$88.8M	$459.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	309.30	−0.428%	$25.2M	$108.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	309.30	−0.428%	$12.6M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	309.60	−0.332%	$100.8M	$136.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	309.61	−0.328%	$18.0M	$30.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	309.43	−0.386%	$34.4M	$52.3M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.23	+0.194%	$34K	$299K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TAO_USDT_Perp	+0.0100%	4h	311.49	+0.276%	$519K	$964K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.35	−0.412%	$56K	$318K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.99	−0.206%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.29	−0.109%	$127K	$473K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.31	−0.102%	$170K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	309.72	−0.293%	$634	$673K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0170%	1h	310.33	−0.098%	$5.6M	$20.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0170% / S +0.0092%	1h	309.12	−0.488%	$427K	—	100x	as long as short
Aster TAOUSDT	+0.0182%	4h	309.46	−0.377%	$1.3M	$9.1M	50x	as long as short
Bullet TAO-USDshort	+0.0223%	1h	309.64	−0.319%	$12K	$17K	20x
Paradex TAO-USD-PERP	+0.0263%	8h	309.51	−0.360%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	309.62	−0.327%	$365K	$378K	10x	as long as short
ApeX Omni TAOUSDT	+0.0290%	1h	310.96	+0.106%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0299%	1h	309.58	−0.338%	$78K	$682K	5x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.95	−0.219%	$82K	$551K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0339%	1h	310.07	−0.181%	$15K	$1.5M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.16	+0.171%	$4.4M	$10.7M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	315.63	+1.610%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0561%	1h	309.58	−0.339%	$760K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	311.70	+0.344%	$326K	$681K	5x	as long as short
Phemex TAOUSDT	+0.0629%	4h	310.71	+0.026%	$3.4M	$7.9M	50x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	310.02	−0.196%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0682%	4h	311.59	+0.308%	$5.4M	$8.8M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	309.52	−0.356%	$356	—	20x	as long as short
BingX TAO-USDT	+0.0740%	4h	309.50	−0.364%	—	$31.0M	—	as long as short
Bybit TAOUSDT	+0.0785%	4h	309.66	−0.312%	$63.2M	$135.3M	50x	as long as short
Backpack TAO_USDC_PERPlong	+0.0894%	1h	310.63	long leg	$314K	$816K	10x
Extended TAO-USD	+0.0992%	1h	309.56	−0.345%	$891K	$2.4M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	311.28	+0.209%	$1.5M	$6.4M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	309.92	−0.229%	$411K	$604K	5x	as long as short
Hyperliquid TAO	+0.1295%	1h	309.99	−0.206%	$98.4M	$92.6M	5x	as long as short
Lighter TAO	+0.1432%	1h	309.85	−0.252%	$1.6M	$6.0M	5x	as long as short
Bulk TAO-USD	+0.3743%	1h	312.40	+0.570%	$166K	$40K	10x	as long as short