Funding you earn now, next payment 05:00 UTC+0.0900%/8h= +98.6% APRnext payment +$1.13 per $10,000 · paid last 24h −0.083%
Price spread now: Deribit against Kraken Futures+0.014%7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$440.440% of the position
Funding, last 7 days−0.392%−$39 on $10k
+Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.014%, 7d avg −0.026%
=Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Deribit is 0.040% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.026%. Mind the row above: over the last 7 days funding on this pair cost −0.392%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.392% in total (about -20.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.13 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 | 312.59 | −0.0347 | get 0.0043% / 1h | 17m 51s | $5.5M | $20.7M | 50x |
| Short | Deribit TAO_USDC-PERPETUAL | 312.63 | 0.0553 | get 0.0069% / 1h | 17m 51s | $13K | $1.8M | 25x |
Kraken Futures PF_TAOUSD
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $189.06
- Price spread: +0.014% → −0.026%
- $4.02
- Slippage, 4 orders
- −$27
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $149.08
- Costs to cover
- 0.440%
- Break-even
- 1.5 days
Slippage from Kraken Futures: live order book, 1 min ago; Deribit: live order book, 1 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, 1 min ago | 5.28 bp | 11.2 bp −$11 | 22.2 bp −$222 | 98.1 bp −$9,805 | doesn't fit |
| Sell Deribit live order book, 1 min ago | 5.76 bp | 9.3 bp −$9 | 16.3 bp −$163 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_TAOUSDlong | −0.0347% | 1h | 312.59 | long leg | $5.5M | $20.7M | 50x | |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 312.30 | −0.091% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0011% | 1h | 313.26 | +0.217% | $125K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 312.21 | −0.120% | $46K | $656K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0099% | 8h | 311.95 | −0.204% | $639 | $842K | 5x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 312.39 | −0.064% | $356K | $416K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 313.57 | +0.315% | $89.8M | $501.2M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 313.40 | +0.260% | $26.2M | $121.3M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 313.20 | +0.196% | $13.3M | $50.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 313.58 | +0.318% | $102.8M | $145.4M | 300x | as long as short |
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Popdex TAOUSDT
Katana Perps TAO-USD
Pacifica TAO
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.51 | +0.296% | $17.8M | $31.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.35 | +0.244% | $35.2M | $56.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 313.62 | +0.331% | — | $33.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 311.63 | −0.306% | $41K | $314K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 311.55 | −0.332% | $529K | $956K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 311.69 | −0.287% | $46K | $254K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 312.32 | −0.085% | $79K | $901K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 312.59 | +0.001% | $11K | $17K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.51 | −0.024% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.06 | −0.168% | $110K | $542K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.77 | +0.059% | $3.1M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.72 | +0.044% | $172K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0109% | 4h | 313.42 | +0.267% | $1.3M | $10.5M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0115% | 4h | 312.45 | −0.044% | $52K | $290K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0136% / S +0.0135% | 1h | 312.21 | −0.119% | $414K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0153% | 8h | 312.21 | −0.121% | $14K | $1K | 10x | as long as short |
| Bybit TAOUSDT | +0.0161% | 4h | 313.68 | +0.350% | $67.6M | $150.5M | 50x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 312.50 | −0.028% | $101K | $394K | 5x | as long as short |
| Variational Omni TAO | +0.0308% | 4h | 311.97 | −0.197% | $5.5M | $10.1M | — | as long as short |
| Extended TAO-USD | +0.0312% | 1h | 313.45 | +0.275% | $914K | $2.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0338% | 1h | 312.25 | −0.108% | $788K | $2.2M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 312.69 | +0.033% | $4.5M | $10.8M | 100x | as long as short |
| Phoenix TAO | +0.0457% | 1h | 312.30 | −0.092% | $311K | $711K | 5x | as long as short |
| Hyperliquid TAO | +0.0473% | 1h | 313.88 | +0.414% | $92.2M | $107.8M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0480% | 1h | 312.48 | −0.034% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0498% | 1h | 313.42 | +0.267% | $311K | $885K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUALshort | +0.0553% | 1h | 312.63 | +0.014% | $13K | $1.8M | 25x | |
| Lighter TAO | +0.0616% | 1h | 313.86 | +0.406% | $1.5M | $6.5M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 312.43 | −0.051% | $359 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 312.26 | −0.104% | $443K | $647K | 5x | as long as short |
| Bulk TAO-USD | +0.0817% | 1h | 310.92 | −0.533% | $165K | $333 | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 312.08 | −0.162% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 315.24 | +0.849% | $23K | $2K | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Aster TAOUSDT
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Bybit TAOUSDT
Arcus TAO-USD
Variational Omni TAO
Extended TAO-USD
Nado TAO-PERP
BloFin TAO-USDT
Phoenix TAO
Hyperliquid TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Lighter TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Bulk TAO-USD
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP