Funding you earn now, next payment 09:00 UTC+0.0609%/8h= +66.7% APRnext payment +$0.76 per $10,000 · paid last 24h +0.096%
Price spread now: Backpack against Polymarket Perps+0.034%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$450.449% of the position
Funding, last 7 days+0.246%+$25 on $10k
+Price spread, last 4 days (all we have)−0.537%−$54 · spread now +0.034%, 7d avg +0.045%
=The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.246% in total (about 12.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.76 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 | Polymarket Perps TAO-USD | 323.66 | 0.0100 | pay 0.0013% / 1h | 0m 37s | $89K | $1.1M | 5x |
| Short | Backpack TAO_USDC_PERP | 323.77 | 0.0709 | get 0.0089% / 1h | 0m 37s | $321K | $1.0M | 10x |
Polymarket Perps TAO-USD
Backpack TAO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Polymarket Perps. 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
- $127.98
- Price spread: +0.034% → +0.045%
- −$1.13
- Slippage, 4 orders
- −$26.89
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $81.96
- Costs to cover
- 0.449%
- Break-even
- 2.5 days
Slippage from Polymarket Perps: live order book, 3 min ago; Backpack: live order book, 3 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 Polymarket Perps live order book, 3 min ago | 11.13 bp | 15.1 bp −$15 | 38.2 bp −$382 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 2.32 bp | 7.3 bp −$7 | 22.9 bp −$229 | 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 | −0.0241% | 1h | 318.85 | −1.488% | $169K | $0 | 10x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 323.24 | −0.130% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 324.32 | +0.204% | $52K | $703K | 20x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 324.56 | +0.278% | $71.5M | $154.9M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 324.10 | +0.136% | $27.1M | $131.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 323.90 | +0.074% | $15.5M | $51.1M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 324.01 | +0.108% | $17.7M | $32.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 324.21 | +0.170% | $36.6M | $56.6M | 50x | as long as short |
| Polymarket Perps TAO-USDlong | +0.0100% | 1h | 323.66 | long leg | $89K | $1.1M | 5x | |
| SunX TAO-USDT | +0.0100% | 4h | 323.20 | −0.142% | $2K | $1.9M | 20x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
SunX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TAO-USDT | +0.0100% | 4h | 323.83 | +0.053% | $117K | $552K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 323.15 | −0.158% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 323.95 | +0.090% | $663 | $1.2M | 5x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 323.45 | −0.065% | $178K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0158% | 4h | 324.39 | +0.226% | $106.1M | $156.6M | 300x | as long as short |
| Binance TAOUSDT | +0.0158% | 4h | 324.31 | +0.201% | $94.9M | $519.4M | 75x | as long as short |
| BingX TAO-USDT | +0.0162% | 4h | 324.26 | +0.185% | — | $38.9M | — | as long as short |
| edgeX TAOUSDC | +0.0164% | 4h | 321.70 | −0.607% | $42K | $322K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0222% | 8h | 324.21 | +0.170% | $15K | $876 | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0244% | 4h | 323.39 | −0.083% | $55K | $272K | 10x | as long as short |
| Bullet TAO-USD | +0.0279% | 1h | 323.53 | −0.040% | $13K | $17K | 20x | as long as short |
| Extended TAO-USD | +0.0280% | 1h | 324.40 | +0.229% | $979K | $2.2M | 25x | as long as short |
| GRVT TAO_USDT_Perp | +0.0284% | 4h | 321.52 | −0.662% | $548K | $825K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0306% | 1h | 321.60 | −0.636% | $45K | $256K | 50x | as long as short |
| Aster TAOUSDT | +0.0322% | 4h | 324.20 | +0.168% | $1.3M | $11.2M | 50x | as long as short |
| Pacifica TAO | +0.0349% | 1h | 324.28 | +0.192% | $377K | $439K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0369% / S −0.0109% | 1h | 323.08 | −0.180% | $383K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0398% | 1h | 323.73 | +0.021% | $762K | $2.0M | 10x | as long as short |
| BloFin TAO-USDT | +0.0399% | 4h | 323.57 | −0.028% | $4.8M | $11.0M | 100x | as long as short |
| Arcus TAO-USD | +0.0404% | 1h | 324.62 | +0.297% | $102K | $329K | 5x | as long as short |
| Variational Omni TAO | +0.0522% | 4h | 323.77 | +0.032% | $5.7M | $9.8M | — | as long as short |
| dYdX TAO-USD | +0.0564% | 1h | 324.07 | +0.128% | $273K | $232K | 5x | as long as short |
| Lighter TAO | +0.0568% | 1h | 324.25 | +0.181% | $1.6M | $6.8M | 5x | as long as short |
| Phoenix TAO | +0.0578% | 1h | 324.30 | +0.198% | $326K | $714K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0630% | 1h | 323.31 | −0.108% | $20K | $1.9M | 25x | as long as short |
| 01 Exchange TAOUSD | +0.0656% | 1h | 324.84 | +0.365% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.0693% | 1h | 324.42 | +0.235% | $97.9M | $109.8M | 5x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 323.36 | −0.092% | $372 | — | 20x | as long as short |
| Backpack TAO_USDC_PERPshort | +0.0709% | 1h | 323.77 | +0.034% | $321K | $1.0M | 10x | |
| Kraken Futures PF_TAOUSD | +0.0769% | 1h | 323.53 | −0.040% | $6.3M | $21.0M | 50x | as long as short |
| RISEx TAO/USDC | +0.0840% | 1h | 324.20 | +0.166% | $443K | $711K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 324.31 | +0.201% | $1.1M | $7.5M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.3512% | 1h | 322.62 | −0.321% | $23K | $2K | 12x | as long as short |
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
MEXC TAO_USDT
Binance TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Orderly PERP_TAO_USDC
Bullet TAO-USD
Extended TAO-USD
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Aster TAOUSDT
Pacifica TAO
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
BloFin TAO-USDT
Arcus TAO-USD
Variational Omni TAO
dYdX TAO-USD
Lighter TAO
Phoenix TAO
Deribit TAO_USDC-PERPETUAL
01 Exchange TAOUSD
Hyperliquid TAO
Reya TAORUSDPERP
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP