Funding you earn now, next payment 07:00 UTC+0.0527%/8h= +57.7% APRpaid last 24h +0.084%
Price spread now: Backpack against Binance+0.017%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$270.274% of the position
Funding, last 7 days+0.155%+$15 on $10k
+Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.017%, 7d avg +0.048%
=Funding pays, the price is against you. Backpack is 0.031% cheaper against Binance than usual: you would sell low and buy high (spread +0.017% now, against its 7-day average of +0.048%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.155% in total) that is about 33 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.155% in total (about 8.1% 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 | Binance TAOUSDT | 319.59 | 0.0169 | pay 0.0084% / 4h | 1h 31m | $92.5M | $529.2M | 75x |
| Short | Backpack TAO_USDC_PERP | 319.64 | 0.0695 | get 0.0087% / 1h | 31m 12s | $298K | $905K | 10x |
Binance TAOUSDT
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $110.59
- Price spread: +0.017% → +0.048%
- −$3.07
- Slippage, 4 orders
- −$7.44
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $80.08
- Costs to cover
- 0.274%
- Break-even
- 1.9 days
Slippage from Binance: live order book, 13 min ago; Backpack: live order book, 13 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 Binance live order book, 13 min ago | 0.16 bp | 6.4 bp −$6 | 15.4 bp −$154 | 36.9 bp −$3,688 | doesn't fit |
| Sell Backpack live order book, 13 min ago | 1.87 bp | 7.2 bp −$7 | 16.0 bp −$160 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1995% | 1h | 319.47 | −0.036% | $170K | $333 | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 319.09 | −0.154% | $127K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 319.23 | −0.113% | $22K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 319.86 | +0.086% | $42K | $706K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 319.50 | −0.027% | $26.7M | $129.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 319.40 | −0.058% | $14.2M | $51.9M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.76 | +0.054% | $17.9M | $32.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.21 | −0.118% | $35.9M | $58.4M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 320.35 | +0.239% | $45K | $259K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 319.74 | +0.048% | $100K | $1.2M | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TAO-USDT | +0.0100% | 4h | 319.40 | −0.058% | $2K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.25 | −0.105% | $119K | $590K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0109% | 8h | 319.76 | +0.054% | $1K | $1.0M | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0118% / S +0.0149% | 1h | 319.56 | −0.008% | $427K | — | 100x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 319.75 | +0.051% | $176K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0121% | 4h | 319.73 | +0.045% | $53K | $292K | 10x | as long as short |
| edgeX TAOUSDC | +0.0161% | 4h | 320.34 | +0.236% | $42K | $318K | 10x | as long as short |
| MEXC TAO_USDT | +0.0164% | 4h | 319.57 | −0.005% | $105.5M | $150.0M | 300x | as long as short |
| Binance TAOUSDTlong | +0.0169% | 4h | 319.59 | long leg | $92.5M | $529.2M | 75x | |
| Paradex TAO-USD-PERP | +0.0263% | 8h | 319.60 | +0.003% | $14K | $1K | 10x | as long as short |
| Phemex TAOUSDT | +0.0296% | 4h | 319.74 | +0.048% | $3.3M | $8.1M | 50x | as long as short |
| Aster TAOUSDT | +0.0328% | 4h | 319.87 | +0.089% | $1.3M | $10.9M | 50x | as long as short |
| Bybit TAOUSDT | +0.0347% | 4h | 319.64 | +0.017% | $69.9M | $156.2M | 50x | as long as short |
| BingX TAO-USDT | +0.0350% | 4h | 319.51 | −0.024% | — | $34.5M | — | as long as short |
| Bullet TAO-USD | +0.0390% | 1h | 319.97 | +0.120% | $12K | $17K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0396% | 4h | 320.22 | +0.197% | $545K | $940K | 10x | as long as short |
| BloFin TAO-USDT | +0.0409% | 4h | 319.67 | +0.026% | $4.7M | $11.1M | 100x | as long as short |
| Extended TAO-USD | +0.0464% | 1h | 319.62 | +0.011% | $916K | $2.4M | 25x | as long as short |
| Pacifica TAO | +0.0525% | 1h | 319.60 | +0.005% | $364K | $423K | 10x | as long as short |
| Variational Omni TAO | +0.0538% | 4h | 318.75 | −0.262% | $5.6M | $10.2M | — | as long as short |
| Phoenix TAO | +0.0567% | 1h | 319.20 | −0.121% | $318K | $709K | 5x | as long as short |
| Nado TAO-PERP | +0.0575% | 1h | 319.97 | +0.119% | $799K | $2.1M | 10x | as long as short |
| Hyperliquid TAO | +0.0622% | 1h | 319.68 | +0.029% | $94.4M | $110.3M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0624% | 1h | 320.11 | +0.164% | $3K | $4K | 5x | as long as short |
| Arcus TAO-USD | +0.0641% | 1h | 320.09 | +0.158% | $103K | $394K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0695% | 1h | 319.64 | +0.017% | $298K | $905K | 10x | |
| Reya TAORUSDPERP | +0.0698% | 1h | 319.77 | +0.058% | $368 | — | 20x | as long as short |
| Lighter TAO | +0.0784% | 1h | 319.66 | +0.022% | $1.5M | $6.7M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0787% | 1h | 319.73 | +0.045% | $16K | $1.9M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 319.89 | +0.095% | $1.5M | $6.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1077% | 1h | 319.75 | +0.053% | $458K | $666K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1154% | 1h | 319.77 | +0.059% | $6.0M | $21.8M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4723% | 1h | 323.44 | +1.206% | $24K | $2K | 12x | as long as short |
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Aevo TAO-PERP
Orderly PERP_TAO_USDC
edgeX TAOUSDC
MEXC TAO_USDT
Paradex TAO-USD-PERP
Phemex TAOUSDT
Aster TAOUSDT
Bybit TAOUSDT
BingX TAO-USDT
Bullet TAO-USD
GRVT TAO_USDT_Perp
BloFin TAO-USDT
Extended TAO-USD
Pacifica TAO
Variational Omni TAO
Phoenix TAO
Nado TAO-PERP
Hyperliquid TAO
01 Exchange TAOUSD
Arcus TAO-USD
Reya TAORUSDPERP
Lighter TAO
Deribit TAO_USDC-PERPETUAL
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP