Funding you earn now, next payment 01:00 UTC+0.1716%/8h= +187.9% APRnext payment +$2.15 per $10,000 · paid last 24h +0.432%
Price spread now: Kraken Futures against Bulk−0.653%7-day average +0.169% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$540.536% of the position
Funding, last 3 days (all we have)+0.551%+$55 on $10k
+Price spread, last 3 days (all we have)+0.981%+$98 · spread now −0.653%, 7d avg +0.169%
=Funding pays, the price is against you. Kraken Futures is 0.822% cheaper against Bulk than usual: you would sell low and buy high (spread −0.653% now, against its 7-day average of +0.169%). If the spread goes back, that is −$82 on $10k: about 38 hours of funding at the current rate (+$51 a day). At the pace of the last 3 days (+0.551% in total) that is about 5.2 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.551% in total (about 58.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.15 per $10,000. 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 | Bulk TAO-USD | 316.14 | −0.1228 | get 0.0154% / 1h | 2m 17s | $168K | $40K | 10x |
| Short | Kraken Futures PF_TAOUSD | 314.08 | 0.0488 | get 0.0061% / 1h | 2m 17s | $5.7M | $20.3M | 50x |
Bulk TAO-USD
Kraken Futures PF_TAOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bulk. 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
- $360.39
- Price spread: −0.653% → +0.169%
- −$82.25
- Slippage, 4 orders
- −$36.55
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $224.59
- Costs to cover
- 0.536%
- Break-even
- 2.6 days
Slippage from Bulk: live order book, 7 min ago; Kraken Futures: live order book, 2 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 Bulk live order book, 7 min ago | 0.16 bp | 4.3 bp −$4 | 5.0 bp −$50 | 21.1 bp −$2,113 | 47.3 bp −$23.6K |
| Sell Kraken Futures live order book, 2 min ago | 11.76 bp | 18.5 bp −$18 | 55.9 bp −$559 | 169.1 bp −$16.9K | 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-USDlong | −0.1228% | 1h | 316.14 | long leg | $168K | $40K | 10x | |
| dYdX TAO-USD | 0.0000% | 1h | 314.65 | −0.472% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 314.10 | −0.646% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 314.66 | −0.468% | $44K | $605K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.40 | −0.550% | $90.1M | $452.4M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.20 | −0.614% | $25.6M | $108.4M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.10 | −0.645% | $12.8M | $51.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.46 | −0.531% | $99.7M | $137.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.29 | −0.585% | $18.2M | $29.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.95 | −0.693% | $34.9M | $51.7M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 317.06 | +0.289% | $40K | $294K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.35 | +0.067% | $524K | $958K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 314.19 | −0.617% | $56K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.88 | −0.715% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.03 | −0.667% | $125K | $422K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.55 | −0.505% | $173K | $998 | 3x | as long as short |
| Bullet TAO-USD | +0.0109% | 1h | 314.49 | −0.522% | $12K | $17K | 20x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0113% | 1h | 314.05 | −0.662% | $16K | $1.5M | 25x | as long as short |
| ApeX Omni TAOUSDT | +0.0117% | 1h | 316.47 | +0.104% | $48K | $267K | 50x | as long as short |
| Katana Perps TAO-USD | +0.0120% | 8h | 314.92 | −0.386% | $644 | $648K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0172% / S +0.0102% | 1h | 314.07 | −0.653% | $445K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 314.74 | −0.443% | $373K | $376K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 314.57 | −0.497% | $83K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0204% | 4h | 314.37 | −0.561% | $1.3M | $8.9M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0237% | 8h | 314.44 | −0.539% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0260% | 1h | 314.64 | −0.474% | $92K | $633K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.26 | −0.595% | $4.4M | $10.7M | 100x | as long as short |
| Kraken Futures PF_TAOUSDshort | +0.0488% | 1h | 314.08 | −0.653% | $5.7M | $20.3M | 50x | |
| Phoenix TAO | +0.0525% | 1h | 317.00 | +0.272% | $332K | $624K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0560% | 1h | 314.68 | −0.462% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 320.46 | +1.366% | $23K | $2K | 12x | as long as short |
| Variational Omni TAO | +0.0571% | 4h | 316.78 | +0.201% | $5.5M | $8.7M | — | as long as short |
| Phemex TAOUSDT | +0.0593% | 4h | 314.20 | −0.614% | $3.4M | $7.8M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 314.60 | −0.487% | $362 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0704% | 4h | 314.37 | −0.560% | — | $30.7M | — | as long as short |
| Nado TAO-PERP | +0.0746% | 1h | 314.59 | −0.490% | $778K | $2.1M | 10x | as long as short |
| Bybit TAOUSDT | +0.0752% | 4h | 314.52 | −0.512% | $64.8M | $133.9M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.0796% | 1h | 315.21 | −0.294% | $319K | $818K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 314.86 | −0.405% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1088% | 1h | 314.16 | −0.627% | $879K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 314.41 | −0.547% | $417K | $602K | 5x | as long as short |
| Lighter TAO | +0.1408% | 1h | 315.51 | −0.201% | $1.6M | $6.1M | 5x | as long as short |
| Hyperliquid TAO | +0.1730% | 1h | 314.94 | −0.380% | $100.8M | $91.7M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Bullet TAO-USD
Deribit TAO_USDC-PERPETUAL
ApeX Omni TAOUSDT
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
BloFin TAO-USDT
Phoenix TAO
01 Exchange TAOUSD
Injective TAO/USDC PERP
Variational Omni TAO
Phemex TAOUSDT
Reya TAORUSDPERP
BingX TAO-USDT
Nado TAO-PERP
Bybit TAOUSDT
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO