TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0419%/8h= +45.9% APRnext payment +$0.52 per $10,000 · paid last 24h +0.033%

Price spread now: Backpack against Bullet+0.141%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.141% dearer against Bullet than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet TAO-USD	311.60	0.0100	pay 0.0013% / 1h	26m 09s	$11K	$17K	20x
Short	Backpack TAO_USDC_PERP	312.04	0.0519	get 0.0065% / 1h	26m 09s	$291K	$804K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bullet. 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 BulletbpFee BackpackbpOrdersPrice spread, now +0.141%Rate

Funding earned: $87.95
Price spread: +0.141% → 0.000%: $14.11
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $84.06
Costs to cover: 0.180%
Break-even: 0.3 days

Slippage unknown: Bullet: no order-book sample; Backpack: live order book, 53 min ago. 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 Bullet no order-book sample	—	—	—	—	—
Sell Backpack live order book, 53 min ago	1.96 bp	7.3 bp −$7	20.8 bp −$208	doesn't fit	doesn't fit

Bullet: 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
Bulk TAO-USD	−0.4493%	1h	315.57	+1.274%	$169K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	312.26	+0.212%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.37	−0.075%	$20K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+1.075%	$23K	$361	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0061%	1h	311.84	+0.078%	$20K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	311.45	−0.048%	$35K	$565K	20x	as long as short
Pacifica TAO	+0.0100%	1h	312.18	+0.187%	$369K	$363K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.03	+0.138%	$88.5M	$427.3M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.46	+0.276%	$61.3M	$125.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.30	+0.225%	$25.1M	$101.4M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	311.90	+0.096%	$12.4M	$49.9M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	311.95	+0.112%	$110.0M	$130.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	311.95	+0.112%	$18.7M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.90	+0.096%	$34.8M	$46.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.04	+0.141%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	313.93	+0.748%	$41K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.05	+0.464%	$519K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.77	+0.696%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.81	+0.067%	$76K	$489K	5x	as long as short
Bullet TAO-USDlong	+0.0100%	1h	311.60	long leg	$11K	$17K	20x
Orderly PERP_TAO_USDC	+0.0100%	4h	311.86	+0.083%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.38	−0.071%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.64	+0.975%	$127K	$407K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	311.89	+0.093%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.91	+0.098%	$171K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	311.47	−0.042%	$1K	$555K	5x	as long as short
Arcus TAO-USD	+0.0186%	1h	311.97	+0.119%	$82K	$586K	5x	as long as short
Aster TAOUSDT	+0.0190%	4h	311.95	+0.112%	$1.1M	$7.9M	50x	as long as short
Paradex TAO-USD-PERP	+0.0191%	8h	311.71	+0.036%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0199%	4h	312.46	+0.276%	$4.0M	$7.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.32	+0.552%	$4.4M	$10.5M	100x	as long as short
Nado TAO-PERP	+0.0447%	1h	311.39	−0.067%	$822K	$2.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0450%	1h	311.99	+0.126%	$5.7M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0475% / S −0.0175%	1h	311.37	−0.073%	$447K	—	100x	as long as short
Backpack TAO_USDC_PERPshort	+0.0519%	1h	312.04	+0.141%	$291K	$804K	10x
Phoenix TAO	+0.0537%	1h	314.20	+0.834%	$329K	$521K	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	311.64	+0.013%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	311.62	+0.008%	$358	—	20x	as long as short
Extended TAO-USD	+0.0856%	1h	311.89	+0.092%	$855K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	312.22	+0.199%	$1.5M	$5.8M	50x	as long as short
Lighter TAO	+0.1224%	1h	312.52	+0.296%	$1.6M	$5.8M	5x	as long as short
RISEx TAO/USDC	+0.1238%	1h	311.66	+0.018%	$434K	$567K	5x	as long as short
Hyperliquid TAO	+0.1723%	1h	312.54	+0.303%	$97.5M	$83.9M	5x	as long as short