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

TAO

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0586%/8h= +64.2% APRpaid last 24h +0.048%
Price spread now: Backpack against OKX+0.558%7-day average +0.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs+$14as in the Price arb table
costs, in and out, $10k−$340.343% of the position
Long on OKXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.086%+$9 on $10k
Price spread, last 4 days (all we have)−0.463%−$46 · spread now +0.558%, 7d avg +0.072%
Together, before fees−0.377%−$38 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Backpack is 0.486% dearer against OKX than usual: you sell high and buy low: +$49 more if the spread goes back to its 7-day average of +0.072%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX TAO-USDT-SWAP315.600.0100pay 0.0100% / 8h5h 58m$26.2M$114.1M50x
ShortBackpack TAO_USDC_PERP317.360.0686get 0.0086% / 1h58m 43s$321K$805K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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
$123.06
Price spread: +0.558% → +0.072%
$48.56
Slippage, 4 orders
−$14.31
Fee OKX: 5 bp × 2 orders
−$10
Fee Backpack: 5 bp × 2 orders
−$10
Net
$137.31
Costs to cover
0.343%
Break-even
from the start
Slippage from OKX: live order book, 5 min ago; Backpack: live order book, 5 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 OKX live order book, 5 min ago1.57 bp8.4 bp −$816.7 bp −$16764.8 bp −$6,480doesn't fit
Sell Backpack live order book, 5 min ago2.19 bp8.9 bp −$9335.6 bp −$3,356doesn't fitdoesn't fit

TAO on 42 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−0.0185%1h315.28−0.101%$167K$40K10xas long as short
dYdX TAO-USD0.0000%1h316.29+0.219%$126K$84K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h316.53+0.294%$10K—150xas long as short
Binance TAOUSDT+0.0100%4h315.79+0.060%$91.2M$466.3M75xas long as short
OKX TAO-USDT-SWAPlong+0.0100%8h315.60long leg$26.2M$114.1M50x
Gate TAO_USDT+0.0100%4h317.00+0.444%$13.0M$48.9M50xas long as short
MEXC TAO_USDT+0.0100%4h317.36+0.558%$104.0M$137.1M300xas long as short
KuCoin TAOUSDTM+0.0100%4h316.98+0.437%$18.0M$30.4M75xas long as short
Bitget TAOUSDT+0.0100%4h316.09+0.155%$35.3M$53.3M50xas long as short
edgeX TAOUSDC+0.0100%4h317.02+0.449%$36K$302K10xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_TAO_USDC+0.0100%4h316.83+0.390%$58K$282K10xas long as short
SunX TAO-USDT+0.0100%4h316.72+0.355%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h316.81+0.383%$129K$472K20xas long as short
Phemex TAOUSDT+0.0100%4h316.90+0.412%$3.4M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h317.17+0.496%$174K$9983xas long as short
Katana Perps TAO-USD+0.0114%8h316.47+0.276%$673$727K5xas long as short
ApeX Omni TAOUSDT+0.0164%1h316.78+0.374%$47K$252K50xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0166% / S +0.0103%1h316.52+0.292%$429K—100xas long as short
Polymarket Perps TAO-USD+0.0175%1h316.38+0.247%$76K$721K5xas long as short
GRVT TAO_USDT_Perp+0.0198%4h317.41+0.574%$528K$957K10xas long as short
Kraken Futures PF_TAOUSD+0.0248%1h316.80+0.380%$5.6M$20.5M50xas long as short
Aster TAOUSDT+0.0281%4h316.93+0.421%$1.2M$9.3M50xas long as short
Pacifica TAO+0.0285%1h316.60+0.316%$374K$393K10xas long as short
Popdex TAOUSDT+0.0304%1h316.62+0.323%$43K$642K20xas long as short
Arcus TAO-USD+0.0337%1h317.08+0.469%$100K$489K5xas long as short
Paradex TAO-USD-PERP+0.0348%8h316.61+0.319%$14K$1K10xas long as short
01 Exchange TAOUSD+0.0432%1h316.81+0.383%$3K$4K5xas long as short
Bullet TAO-USD+0.0450%1h316.88+0.405%$12K$18K20xas long as short
Deribit TAO_USDC-PERPETUAL+0.0533%1h316.85+0.396%$14K$1.6M25xas long as short
Phoenix TAO+0.0588%1h318.30+0.856%$334K$672K5xas long as short
Backpack TAO_USDC_PERPshort+0.0686%1h317.36+0.558%$321K$805K10x
Reya TAORUSDPERP+0.0696%1h316.48+0.278%$364—20xas long as short
BingX TAO-USDT+0.0720%4h317.16+0.494%—$30.9M—as long as short
Bybit TAOUSDT+0.0722%4h315.86+0.082%$67.0M$138.1M50xas long as short
Variational Omni TAO+0.0848%4h316.96+0.431%$6.1M$9.5M—as long as short
Extended TAO-USD+0.0888%1h317.32+0.546%$896K$2.3M25xas long as short
Coinbase International TAO-PERP-INTX+0.1024%1h317.08+0.469%$1.5M$6.4M50xas long as short
RISEx TAO/USDC+0.1159%1h316.63+0.326%$447K$626K5xas long as short
Hyperliquid TAO+0.1247%1h316.60+0.317%$99.7M$97.4M5xas long as short
Nado TAO-PERP+0.1313%1h316.67+0.340%$758K$2.1M10xas long as short
Lighter TAO+0.1424%1h316.21+0.194%$1.6M$6.1M5xas long as short
Injective TAO/USDC PERP+0.4172%1h320.94+1.692%$23K$2K12xas long as short