Funding you earn now, next payment 05:00 UTC−0.0395%/8h= −43.2% APRpaid last 24h −0.068%
Price spread now: Katana Perps against Backpack−0.257%7-day average −0.023% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.041%+$4 on $10k
+Price spread, last 4 days (all we have)+0.247%+$25 · spread now −0.257%, 7d avg −0.023%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Katana Perps is 0.235% cheaper against Backpack than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.023%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.041% in total (about 3.8% 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 | 310.94 | 0.0493 | pay 0.0062% / 1h | 22m 27s | $309K | $885K | 10x |
| Short | Katana Perps TAO-USD | 310.14 | 0.0099 | get 0.0099% / 8h | 3h 22m | $2K | $842K | 5x |
Backpack TAO_USDC_PERP
Katana Perps TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps 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
- −$82.9
- Price spread: −0.257% → −0.023%
- −$23.45
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$120.15
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 31 min ago; Katana Perps: 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, 31 min ago | 2.55 bp | 7.6 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Katana Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_TAOUSD | −0.0349% | 1h | 310.85 | −0.030% | $5.5M | $20.6M | 50x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 310.44 | −0.161% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0013% | 1h | 310.54 | −0.127% | $124K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 310.46 | −0.154% | $46K | $656K | 20x | as long as short |
| Katana Perps TAO-USDshort | +0.0099% | 8h | 310.14 | −0.257% | $2K | $842K | 5x | |
| Pacifica TAO | +0.0100% | 1h | 310.76 | −0.058% | $354K | $414K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 310.66 | −0.091% | $89.0M | $500.6M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 310.84 | −0.032% | $66.9M | $150.3M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 310.70 | −0.077% | $25.8M | $120.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 310.40 | −0.174% | $13.2M | $50.2M | 50x | as long as short |
Kraken Futures PF_TAOUSD
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
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 | 310.53 | −0.132% | $101.9M | $145.2M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 310.47 | −0.151% | $17.7M | $31.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 310.35 | −0.190% | $34.8M | $56.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 310.67 | −0.087% | — | $33.8M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 311.00 | +0.021% | $41K | $312K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 310.69 | −0.079% | $528K | $956K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 310.75 | −0.061% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 310.40 | −0.174% | $79K | $900K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 310.70 | −0.077% | $11K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 310.77 | −0.055% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 310.34 | −0.193% | $109K | $541K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 310.80 | −0.043% | $171K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0104% | 4h | 310.76 | −0.059% | $1.3M | $10.5M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0116% | 4h | 310.59 | −0.113% | $51K | $290K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0137% / S +0.0135% | 1h | 310.40 | −0.174% | $412K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0142% | 8h | 310.57 | −0.118% | $14K | $1K | 10x | as long as short |
| Phemex TAOUSDT | +0.0206% | 4h | 310.93 | −0.003% | $3.2M | $8.0M | 50x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 310.81 | −0.042% | $101K | $394K | 5x | as long as short |
| Variational Omni TAO | +0.0294% | 4h | 311.14 | +0.063% | $5.5M | $10.1M | — | as long as short |
| Extended TAO-USD | +0.0304% | 1h | 310.36 | −0.186% | $904K | $2.4M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.10 | +0.051% | $4.5M | $10.7M | 100x | as long as short |
| Nado TAO-PERP | +0.0357% | 1h | 310.74 | −0.065% | $783K | $2.2M | 10x | as long as short |
| Hyperliquid TAO | +0.0456% | 1h | 310.76 | −0.058% | $91.3M | $107.7M | 5x | as long as short |
| Phoenix TAO | +0.0457% | 1h | 311.10 | +0.051% | $310K | $711K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0480% | 1h | 310.49 | −0.145% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERPlong | +0.0493% | 1h | 310.94 | long leg | $309K | $885K | 10x | |
| Lighter TAO | +0.0576% | 1h | 310.94 | −0.001% | $1.5M | $6.5M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0646% | 1h | 311.01 | +0.021% | $15K | $1.8M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 310.56 | −0.123% | $357 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 310.43 | −0.166% | $441K | $655K | 5x | as long as short |
| Bulk TAO-USD | +0.0817% | 1h | 310.92 | −0.006% | $165K | $333 | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 311.31 | +0.119% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 315.24 | +1.383% | $23K | $2K | 12x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Aster TAOUSDT
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Phemex TAOUSDT
Arcus TAO-USD
Variational Omni TAO
Extended TAO-USD
BloFin TAO-USDT
Nado TAO-PERP
Hyperliquid TAO
Phoenix TAO
01 Exchange TAOUSD
Lighter TAO
Deribit TAO_USDC-PERPETUAL
Reya TAORUSDPERP
RISEx TAO/USDC
Bulk TAO-USD
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP