TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2884%/8h= +315.8% APRnext payment +$3.60 per $10,000 · paid last 24h +0.597%

Price spread now: Injective against Backpack+1.159%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+3.379%+$338 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$87 a day on $10k at the current rate, and Injective is 1.159% dearer against Backpack than usual: you sell high and buy low: +$116 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	312.45	0.0828	pay 0.0103% / 1h	52m 26s	$310K	$885K	10x
Short	Injective TAO/USDC PERP	316.07	0.3711	get 0.0464% / 1h	52m 26s	$23K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.159%Rate

Funding earned: $605.56
Price spread: +1.159% → 0.000%: $115.86
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $711.39
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Backpack: live order book, 61 min ago; Injective: 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, 61 min ago	2.55 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	312.43	−0.007%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.62	+0.053%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	312.82	+0.118%	$640	$877K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.97	+0.166%	$89.5M	$504.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.90	+0.144%	$26.2M	$121.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.60	+0.048%	$13.6M	$50.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.86	+0.131%	$104.2M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.98	+0.170%	$17.5M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.58	+0.042%	$35.2M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.81	−0.205%	$41K	$314K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	312.79	+0.109%	$81K	$908K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.77	−0.218%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.42	−0.330%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.99	+0.174%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	312.82	+0.118%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0133% / S +0.0137%	1h	312.50	+0.015%	$419K	—	100x	as long as short
Bulk TAO-USD	+0.0138%	1h	312.42	−0.009%	$166K	$333	10x	as long as short
Aster TAOUSDT	+0.0142%	4h	312.92	+0.150%	$1.3M	$10.5M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0204%	4h	313.11	+0.210%	$532K	$942K	10x	as long as short
Paradex TAO-USD-PERP	+0.0213%	8h	313.04	+0.190%	$14K	$1K	10x	as long as short
Popdex TAOUSDT	+0.0232%	1h	313.06	+0.195%	$49K	$662K	20x	as long as short
Pacifica TAO	+0.0233%	1h	312.84	+0.125%	$356K	$419K	10x	as long as short
Nado TAO-PERP	+0.0293%	1h	312.85	+0.127%	$778K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0305%	1h	312.25	−0.064%	$5.5M	$20.7M	50x	as long as short
Bullet TAO-USD	+0.0317%	1h	312.88	+0.138%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.29	−0.051%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0348%	4h	312.79	+0.109%	—	$33.7M	—	as long as short
Bybit TAOUSDT	+0.0348%	4h	312.96	+0.163%	$67.7M	$151.1M	50x	as long as short
Extended TAO-USD	+0.0368%	1h	312.87	+0.134%	$903K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0371%	4h	312.91	+0.147%	$5.5M	$10.1M	—	as long as short
Arcus TAO-USD	+0.0483%	1h	313.08	+0.202%	$101K	$370K	5x	as long as short
Phemex TAOUSDT	+0.0484%	4h	312.43	−0.006%	$3.1M	$8.0M	50x	as long as short
Phoenix TAO	+0.0513%	1h	312.80	+0.112%	$311K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0533%	1h	312.32	−0.043%	$11K	$1.8M	25x	as long as short
Hyperliquid TAO	+0.0681%	1h	313.10	+0.208%	$91.6M	$108.2M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.83	+0.120%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0752%	1h	313.35	+0.288%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0808%	1h	313.03	+0.184%	$1.5M	$6.5M	5x	as long as short
Backpack TAO_USDC_PERPlong	+0.0828%	1h	312.45	long leg	$310K	$885K	10x
Coinbase International TAO-PERP-INTX	+0.0928%	1h	312.88	+0.138%	$1.5M	$6.7M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	312.97	+0.168%	$447K	$649K	5x	as long as short
ApeX Omni TAOUSDT	+0.1940%	1h	312.51	+0.019%	$46K	$254K	50x	as long as short
Injective TAO/USDC PERPshort	+0.3711%	1h	316.07	+1.159%	$23K	$2K	12x