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: Bulk against Kraken Futures+0.657%7-day average −0.169% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$29as 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)−0.985%−$99 · spread now +0.657%, 7d avg −0.169%
=The price spread pays, funding is against you. Bulk is 0.827% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.657% now, against its 7-day average of −0.169%): +$83 on $10k if it goes back. Holding the pair costs −$51 a day in funding at the current rate, which eats that in about 39 hours. 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 | Kraken Futures PF_TAOUSD | 314.08 | 0.0488 | pay 0.0061% / 1h | 1m 41s | $5.7M | $20.3M | 50x |
| Short | Bulk TAO-USD | 316.14 | −0.1228 | pay 0.0154% / 1h | 1m 41s | $168K | $40K | 10x |
Kraken Futures PF_TAOUSD
Bulk TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Kraken Futures. 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: +0.657% → −0.169%
- $82.68
- Slippage, 4 orders
- −$36.55
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$331.26
- Costs to cover
- 0.536%
- Break-even
- from the start
Slippage from Kraken Futures: live order book, 2 min ago; Bulk: live order book, 7 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 Kraken Futures live order book, 2 min ago | 11.76 bp | 25.3 bp −$25 | 35.0 bp −$350 | 156.8 bp −$15.7K | doesn't fit |
| Sell Bulk live order book, 7 min ago | 0.16 bp | 5.5 bp −$6 | 7.8 bp −$78 | 8.1 bp −$805 | 18.3 bp −$9,130 |
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-USDshort | −0.1228% | 1h | 316.14 | +0.657% | $168K | $40K | 10x | |
| dYdX TAO-USD | 0.0000% | 1h | 313.92 | −0.050% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 314.10 | +0.007% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.76 | −0.100% | $42K | $605K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.85 | −0.072% | $90.2M | $452.8M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 314.00 | −0.024% | $25.5M | $108.5M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 313.90 | −0.056% | $12.7M | $51.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.00 | −0.024% | $100.7M | $137.8M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.33 | +0.081% | $18.2M | $29.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.71 | −0.116% | $34.9M | $51.8M | 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 | 315.16 | +0.345% | $40K | $294K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.35 | +0.725% | $524K | $958K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.60 | +0.167% | $48K | $267K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 314.19 | +0.036% | $56K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.88 | −0.062% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.03 | −0.014% | $125K | $422K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 314.55 | +0.149% | $173K | $998 | 3x | as long as short |
| Bullet TAO-USD | +0.0109% | 1h | 314.49 | +0.132% | $12K | $17K | 20x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0113% | 1h | 314.05 | −0.009% | $16K | $1.5M | 25x | as long as short |
| Katana Perps TAO-USD | +0.0119% | 8h | 313.76 | −0.100% | $1K | $648K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0172% / S +0.0102% | 1h | 314.07 | 0.000% | $445K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 314.21 | +0.043% | $372K | $376K | 10x | as long as short |
| Aster TAOUSDT | +0.0191% | 4h | 313.78 | −0.094% | $1.3M | $9.0M | 50x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 314.17 | +0.030% | $83K | $550K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0239% | 8h | 314.07 | 0.000% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0260% | 1h | 314.64 | +0.180% | $92K | $633K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.26 | +0.059% | $4.4M | $10.7M | 100x | as long as short |
| Kraken Futures PF_TAOUSDlong | +0.0488% | 1h | 314.08 | long leg | $5.7M | $20.3M | 50x | |
| Phoenix TAO | +0.0525% | 1h | 317.00 | +0.931% | $332K | $624K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0560% | 1h | 313.96 | −0.037% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 320.46 | +2.033% | $23K | $2K | 12x | as long as short |
| Variational Omni TAO | +0.0571% | 4h | 316.78 | +0.860% | $5.5M | $8.7M | — | as long as short |
| Phemex TAOUSDT | +0.0593% | 4h | 314.20 | +0.040% | $3.4M | $7.8M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 314.60 | +0.167% | $362 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0704% | 4h | 313.93 | −0.046% | — | $30.7M | — | as long as short |
| Nado TAO-PERP | +0.0746% | 1h | 314.59 | +0.165% | $778K | $2.1M | 10x | as long as short |
| Bybit TAOUSDT | +0.0772% | 4h | 314.06 | −0.005% | $64.0M | $134.4M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.0797% | 1h | 313.64 | −0.139% | $317K | $818K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 314.86 | +0.250% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1088% | 1h | 313.85 | −0.073% | $874K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 313.82 | −0.082% | $416K | $602K | 5x | as long as short |
| Lighter TAO | +0.1432% | 1h | 314.45 | +0.120% | $1.6M | $6.1M | 5x | as long as short |
| Hyperliquid TAO | +0.1724% | 1h | 314.45 | +0.119% | $100.6M | $91.7M | 5x | as long as short |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Bullet TAO-USD
Deribit TAO_USDC-PERPETUAL
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Aster TAOUSDT
Arcus TAO-USD
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