Funding you earn now, next payment 00:00 UTC+0.0457%/8h= +50.1% APRpaid last 24h +0.036%
Price spread now: Backpack against Bitget−0.229%7-day average +0.082% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$390.390% of the position
Funding, last 7 days+0.006%+$1 on $10k
+Price spread, last 4 days (all we have)+0.275%+$27 · spread now −0.229%, 7d avg +0.082%
=Funding pays, the price is against you. Backpack is 0.311% cheaper against Bitget than usual: you would sell low and buy high (spread −0.229% now, against its 7-day average of +0.082%). If the spread goes back, that is −$31 on $10k: about 2.3 days of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.006% in total) that is about 13 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.006% in total (about 0.3% 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 | Bitget TAOUSDT | 314.35 | 0.0100 | pay 0.0050% / 4h | 50m 43s | $35.3M | $46.2M | 50x |
| Short | Backpack TAO_USDC_PERP | 313.63 | 0.0557 | get 0.0070% / 1h | 50m 43s | $300K | $798K | 10x |
Bitget TAOUSDT
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bitget. 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
- $96.02
- Price spread: −0.229% → +0.082%
- −$31.14
- Slippage, 4 orders
- −$16.99
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $25.88
- Costs to cover
- 0.390%
- Break-even
- 5.1 days
Slippage from Bitget: live order book, 3 min ago; Backpack: live order book, 28 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 Bitget live order book, 3 min ago | 0.64 bp | 11.5 bp −$12 | 19.9 bp −$199 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 28 min ago | 1.96 bp | 7.3 bp −$7 | 20.8 bp −$208 | 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 | −0.4722% | 1h | 314.01 | −0.108% | $168K | $48K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 314.17 | −0.057% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 313.24 | −0.352% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 308.73 | −1.788% | $22K | $259 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.58 | −0.245% | $40K | $549K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.62 | +0.086% | $372K | $370K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.56 | +0.065% | $89.1M | $421.3M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 314.60 | +0.080% | $61.5M | $123.2M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.40 | +0.016% | $25.2M | $100.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 313.80 | −0.175% | $12.6M | $48.6M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
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 | 314.42 | +0.022% | $121.0M | $126.1M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.24 | −0.035% | $19.2M | $27.6M | 75x | as long as short |
| Bitget TAOUSDTlong | +0.0100% | 4h | 314.35 | long leg | $35.3M | $46.2M | 50x | |
| BingX TAO-USDT | +0.0100% | 4h | 314.43 | +0.025% | — | $30.3M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 314.17 | −0.059% | $41K | $279K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 314.25 | −0.031% | $520K | $950K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 312.22 | −0.678% | $47K | $269K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 313.42 | −0.296% | $60K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.29 | −0.337% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 313.52 | −0.264% | $128K | $393K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 313.16 | −0.379% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 313.46 | −0.282% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 313.38 | −0.309% | $2K | $536K | 5x | as long as short |
| Bullet TAO-USD | +0.0113% | 1h | 313.57 | −0.248% | $11K | $17K | 20x | as long as short |
| Polymarket Perps TAO-USD | +0.0120% | 1h | 313.65 | −0.223% | $77K | $524K | 5x | as long as short |
| Variational Omni TAO | +0.0177% | 4h | 314.40 | +0.017% | $3.9M | $6.9M | — | as long as short |
| Paradex TAO-USD-PERP | +0.0185% | 8h | 314.54 | +0.059% | $14K | $1K | 10x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 314.66 | +0.099% | $81K | $624K | 5x | as long as short |
| Aster TAOUSDT | +0.0206% | 4h | 313.99 | −0.114% | $1.1M | $7.8M | 50x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.65 | −0.223% | $4.3M | $9.7M | 100x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0448% | 1h | 313.45 | −0.285% | $5.8M | $19.8M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0468% | 1h | 313.48 | −0.277% | $19K | $1.4M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0476% / S −0.0175% | 1h | 313.20 | −0.364% | $449K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0483% | 1h | 313.40 | −0.301% | $839K | $2.0M | 10x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 312.70 | −0.525% | $327K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0557% | 1h | 313.63 | −0.229% | $300K | $798K | 10x | |
| Reya TAORUSDPERP | +0.0695% | 1h | 313.50 | −0.272% | $361 | — | 20x | as long as short |
| Extended TAO-USD | +0.0800% | 1h | 314.34 | −0.004% | $864K | $2.1M | 25x | as long as short |
| 01 Exchange TAOUSD | +0.0848% | 1h | 313.98 | −0.118% | $3K | $4K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 313.78 | −0.181% | $1.5M | $5.7M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 314.61 | +0.084% | $433K | $536K | 5x | as long as short |
| Lighter TAO | +0.1384% | 1h | 314.79 | +0.140% | $1.7M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.2241% | 1h | 314.84 | +0.156% | $98.6M | $82.7M | 5x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Bullet TAO-USD
Polymarket Perps TAO-USD
Variational Omni TAO
Paradex TAO-USD-PERP
Arcus TAO-USD
Aster TAOUSDT
BloFin TAO-USDT
Kraken Futures PF_TAOUSD
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Phoenix TAO
Reya TAORUSDPERP
Extended TAO-USD
01 Exchange TAOUSD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO