Funding you earn now, next payment 00:00 UTC+0.0471%/8h= +51.6% APRpaid last 24h +0.033%
Price spread now: Backpack against KuCoin−0.217%7-day average +0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$530.528% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 4 days (all we have)+0.194%+$19 · spread now −0.217%, 7d avg +0.038%
=Funding pays, the price is against you. Backpack is 0.256% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.217% now, against its 7-day average of +0.038%). If the spread goes back, that is −$26 on $10k: about 43 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.048% in total) that is about 37 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.048% in total (about 2.5% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin TAOUSDTM | 312.79 | 0.0100 | pay 0.0050% / 4h | 46m 05s | $19.0M | $27.7M | 75x |
| Short | Backpack TAO_USDC_PERP | 312.11 | 0.0571 | get 0.0071% / 1h | 46m 05s | $299K | $798K | 10x |
KuCoin TAOUSDTM
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $98.9
- Price spread: −0.217% → +0.038%
- −$25.56
- Slippage, 4 orders
- −$30.76
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $20.58
- Costs to cover
- 0.528%
- Break-even
- 5.5 days
Slippage from KuCoin: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy KuCoin live order book, 3 min ago | 1.27 bp | 17.4 bp −$17 | 31.7 bp −$317 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 33 min ago | 1.96 bp | 7.3 bp −$7 | 20.8 bp −$208 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.4722% | 1h | 314.01 | +0.391% | $168K | $48K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 312.80 | +0.003% | $125K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 312.67 | −0.038% | $21K | — | 150x | as long as short |
| Injective TAO/USDC PERP | +0.0033% | 1h | 314.39 | +0.512% | $23K | $260 | 12x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.29 | +0.160% | $40K | $549K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 313.19 | +0.128% | $371K | $372K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 312.22 | −0.183% | $88.4M | $423.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 312.51 | −0.090% | $61.3M | $123.5M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 312.30 | −0.157% | $25.0M | $99.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 311.80 | −0.317% | $12.7M | $49.1M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Injective TAO/USDC PERP
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 311.89 | −0.288% | $119.7M | $127.0M | 300x | as long as short |
| KuCoin TAOUSDTMlong | +0.0100% | 4h | 312.79 | long leg | $19.0M | $27.7M | 75x | |
| Bitget TAOUSDT | +0.0100% | 4h | 312.23 | −0.179% | $34.9M | $46.3M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 312.10 | −0.221% | — | $30.2M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 313.65 | +0.274% | $41K | $280K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 314.17 | +0.442% | $519K | $950K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 313.37 | +0.185% | $47K | $269K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 312.65 | −0.045% | $60K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 312.57 | −0.070% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.67 | −0.038% | $128K | $394K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 312.20 | −0.189% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 312.81 | +0.008% | $172K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 313.32 | +0.169% | $903 | $539K | 5x | as long as short |
| Polymarket Perps TAO-USD | +0.0132% | 1h | 313.50 | +0.227% | $77K | $522K | 5x | as long as short |
| Bullet TAO-USD | +0.0148% | 1h | 313.05 | +0.083% | $11K | $17K | 20x | as long as short |
| Variational Omni TAO | +0.0173% | 4h | 313.59 | +0.254% | $3.8M | $6.9M | — | as long as short |
| Paradex TAO-USD-PERP | +0.0185% | 8h | 312.98 | +0.061% | $14K | $1K | 10x | as long as short |
| Arcus TAO-USD | +0.0186% | 1h | 313.50 | +0.227% | $83K | $626K | 5x | as long as short |
| Aster TAOUSDT | +0.0209% | 4h | 312.28 | −0.163% | $1.1M | $7.8M | 50x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 313.41 | +0.198% | $4.3M | $9.7M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0377% | 1h | 312.66 | −0.040% | $21K | $1.4M | 25x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0449% | 1h | 312.67 | −0.039% | $5.8M | $19.8M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0475% / S −0.0175% | 1h | 312.69 | −0.031% | $448K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0523% | 1h | 313.32 | +0.169% | $842K | $2.0M | 10x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 313.80 | +0.323% | $328K | $521K | 5x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0571% | 1h | 312.11 | −0.217% | $299K | $798K | 10x | |
| Reya TAORUSDPERP | +0.0695% | 1h | 312.72 | −0.022% | $360 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0816% | 1h | 313.71 | +0.294% | $3K | $4K | 5x | as long as short |
| Extended TAO-USD | +0.0864% | 1h | 312.62 | −0.054% | $864K | $2.1M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 314.43 | +0.524% | $1.5M | $5.7M | 50x | as long as short |
| RISEx TAO/USDC | +0.1238% | 1h | 313.49 | +0.225% | $432K | $536K | 5x | as long as short |
| Lighter TAO | +0.1504% | 1h | 312.56 | −0.074% | $1.6M | $5.8M | 5x | as long as short |
| Hyperliquid TAO | +0.2119% | 1h | 312.72 | −0.023% | $97.9M | $82.8M | 5x | as long as short |
MEXC TAO_USDT
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Polymarket Perps TAO-USD
Bullet TAO-USD
Variational Omni TAO
Paradex TAO-USD-PERP
Arcus TAO-USD
Aster TAOUSDT
BloFin TAO-USDT
Deribit TAO_USDC-PERPETUAL
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Phoenix TAO
Reya TAORUSDPERP
01 Exchange TAOUSD
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO
Hyperliquid TAO