TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0121%/8h= +13.3% APRnext payment +$0.15 per $10,000 · paid last 24h +0.095%

Price spread now: RISEx against Backpack+0.040%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Backpack Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.387%+$39 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.040%, 7d avg −0.027%

Together, before fees+0.423%+$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and RISEx is 0.067% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TAO_USDC_PERP	313.24	0.0827	pay 0.0103% / 1h	49m 47s	$311K	$885K	10x
Short	RISEx TAO/USDC	313.37	0.0948	get 0.0118% / 1h	49m 47s	$450K	$650K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.040%Rate

Funding earned: $25.51
Price spread: +0.040% → −0.027%: $6.67
Slippage, 4 orders: −$10.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $5.34
Costs to cover: 0.268%
Break-even: 5.5 days

Slippage from Backpack: live order book, 64 min ago; RISEx: live order book, 64 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, 64 min ago	2.55 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 64 min ago	1.59 bp	4.6 bp −$5	28.0 bp −$280	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
dYdX TAO-USD	0.0000%	1h	312.98	−0.082%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.94	−0.095%	$20K	—	150x	as long as short
Katana Perps TAO-USD	+0.0100%	8h	313.26	+0.006%	$641	$879K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.48	+0.075%	$89.6M	$504.9M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.50	+0.083%	$26.2M	$121.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.00	−0.077%	$13.6M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.42	+0.057%	$104.6M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.49	+0.080%	$17.5M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.21	−0.010%	$35.3M	$56.9M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.14	−0.352%	$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	313.12	−0.038%	$81K	$908K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.92	−0.102%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.72	−0.166%	$111K	$545K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.30	+0.019%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	313.18	−0.019%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0132% / S +0.0137%	1h	312.88	−0.115%	$419K	—	100x	as long as short
Bulk TAO-USD	+0.0138%	1h	312.42	−0.261%	$166K	$333	10x	as long as short
Aster TAOUSDT	+0.0153%	4h	313.18	−0.020%	$1.3M	$10.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0224%	8h	313.48	+0.077%	$14K	$1K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0232%	4h	312.47	−0.247%	$531K	$942K	10x	as long as short
Pacifica TAO	+0.0233%	1h	313.48	+0.076%	$357K	$419K	10x	as long as short
Popdex TAOUSDT	+0.0248%	1h	313.43	+0.061%	$49K	$662K	20x	as long as short
Nado TAO-PERP	+0.0259%	1h	313.35	+0.036%	$779K	$2.2M	10x	as long as short
ApeX Omni TAOUSDT	+0.0265%	1h	312.08	−0.370%	$46K	$255K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0305%	1h	312.92	−0.103%	$5.5M	$20.7M	50x	as long as short
Bullet TAO-USD	+0.0328%	1h	313.25	+0.005%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.00	−0.077%	$4.5M	$10.8M	100x	as long as short
BingX TAO-USDT	+0.0358%	4h	313.50	+0.083%	—	$33.7M	—	as long as short
Phemex TAOUSDT	+0.0359%	4h	313.09	−0.048%	$3.1M	$7.9M	50x	as long as short
Variational Omni TAO	+0.0371%	4h	313.10	−0.045%	$5.5M	$10.1M	—	as long as short
Bybit TAOUSDT	+0.0383%	4h	313.57	+0.105%	$67.9M	$151.2M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	313.24	−0.001%	$902K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.71	+0.150%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	312.50	−0.236%	$311K	$713K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0529%	1h	313.17	−0.022%	$11K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.33	+0.029%	$360	—	20x	as long as short
Hyperliquid TAO	+0.0705%	1h	313.49	+0.079%	$91.8M	$108.4M	5x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	313.87	+0.201%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERPlong	+0.0827%	1h	313.24	long leg	$311K	$885K	10x
Lighter TAO	+0.0888%	1h	313.63	+0.126%	$1.5M	$6.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	313.67	+0.137%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDCshort	+0.0948%	1h	313.37	+0.040%	$450K	$650K	5x
Injective TAO/USDC PERP	+0.3711%	1h	316.07	+0.903%	$23K	$2K	12x	as long as short