Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

TAO

all TAO markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 06:00 UTC+0.0735%/8h= +80.5% APRpaid last 24h +0.074%
Price spread now: Backpack against Gate+0.123%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$480.480% of the position
Long on GateShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.110%+$11 on $10k
Price spread, last 4 days (all we have)−0.137%−$14 · spread now +0.123%, 7d avg +0.079%
Together, before fees−0.027%−$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Backpack is 0.043% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.079%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.110% in total (about 5.7% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate TAO_USDT317.600.0100pay 0.0050% / 4h2h 16m$14.1M$51.5M50x
ShortBackpack TAO_USDC_PERP317.990.0835get 0.0104% / 1h16m 11s$315K$890K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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

Funding earned
$154.43
Price spread: +0.123% → +0.079%
$4.34
Slippage, 4 orders
−$23.05
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Backpack: 5 bp × 2 orders
−$10
Net
$110.73
Costs to cover
0.480%
Break-even
2.0 days
Slippage from Gate: live order book, 3 min ago; Backpack: live order book, 33 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 3 min ago3.14 bp17.4 bp −$1736.4 bp −$36450.1 bp −$5,00784.6 bp −$42.3K
Sell Backpack live order book, 33 min ago0.32 bp5.7 bp −$619.2 bp −$192doesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.0038%1h313.74−1.215%$167K$33310xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h317.64+0.013%$21K—150xas long as short
dYdX TAO-USD+0.0035%1h317.64+0.011%$127K$85K5xas long as short
Popdex TAOUSDT+0.0096%1h318.03+0.135%$53K$672K20xas long as short
Binance TAOUSDT+0.0100%4h317.93+0.104%$91.3M$512.4M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h317.80+0.063%$26.6M$125.0M50xas long as short
Gate TAO_USDTlong+0.0100%4h317.60long leg$14.1M$51.5M50x
MEXC TAO_USDT+0.0100%4h317.96+0.113%$100.4M$147.7M300xas long as short
KuCoin TAOUSDTM+0.0100%4h317.82+0.069%$17.5M$31.5M75xas long as short
Bitget TAOUSDT+0.0100%4h317.59−0.003%$35.8M$57.4M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h318.55+0.300%$42K$316K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h317.82+0.069%$91K$920K5xas long as short
SunX TAO-USDT+0.0100%4h317.56−0.013%$2K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h317.04−0.176%$116K$565K20xas long as short
Phemex TAOUSDT+0.0100%4h317.80+0.063%$3.2M$8.0M50xas long as short
Aevo TAO-PERP+0.0104%1h318.02+0.133%$175K$9983xas long as short
Katana Perps TAO-USD+0.0110%8h318.03+0.135%$2K$942K5xas long as short
Orderly PERP_TAO_USDC+0.0117%4h317.93+0.104%$53K$290K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0127% / S +0.0141%1h317.59−0.004%$425K—100xas long as short
Pacifica TAO+0.0233%1h318.03+0.136%$363K$420K10xas long as short
Aster TAOUSDT+0.0260%4h317.84+0.076%$1.3M$10.7M50xas long as short
Paradex TAO-USD-PERP+0.0273%8h317.97+0.117%$14K$1K10xas long as short
Nado TAO-PERP+0.0279%1h318.01+0.128%$799K$2.2M10xas long as short
Kraken Futures PF_TAOUSD+0.0299%1h318.27+0.210%$6.0M$21.5M50xas long as short
Bullet TAO-USD+0.0329%1h317.95+0.111%$12K$17K20xas long as short
BloFin TAO-USDT+0.0340%4h317.89+0.091%$4.6M$11.0M100xas long as short
Bybit TAOUSDT+0.0393%4h317.97+0.116%$69.4M$153.5M50xas long as short
BingX TAO-USDT+0.0400%4h317.91+0.098%—$33.7M—as long as short
GRVT TAO_USDT_Perp+0.0448%4h318.95+0.426%$545K$935K10xas long as short
Variational Omni TAO+0.0459%4h318.52+0.289%$5.6M$10.1M—as long as short
Arcus TAO-USD+0.0483%1h318.34+0.233%$103K$345K5xas long as short
Extended TAO-USD+0.0496%1h317.87+0.084%$906K$2.4M25xas long as short
Phoenix TAO+0.0513%1h319.50+0.598%$318K$713K5xas long as short
ApeX Omni TAOUSDT+0.0520%1h319.52+0.605%$45K$256K50xas long as short
Deribit TAO_USDC-PERPETUAL+0.0606%1h318.01+0.130%$15K$1.8M25xas long as short
Reya TAORUSDPERP+0.0697%1h317.92+0.101%$366—20xas long as short
01 Exchange TAOUSD+0.0808%1h318.22+0.195%$3K$4K5xas long as short
Lighter TAO+0.0816%1h318.12+0.163%$1.5M$6.6M5xas long as short
Hyperliquid TAO+0.0820%1h318.05+0.142%$93.4M$109.4M5xas long as short
Backpack TAO_USDC_PERPshort+0.0835%1h317.99+0.123%$315K$890K10x
Coinbase International TAO-PERP-INTX+0.0928%1h318.49+0.280%$1.5M$6.9M50xas long as short
RISEx TAO/USDC+0.0948%1h318.06+0.146%$459K$650K5xas long as short
Injective TAO/USDC PERP+0.3711%1h322.94+1.681%$23K$2K12xas long as short