TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0003%/8h= −0.3% APRnext payment −$0.00 per $10,000 · paid last 24h −0.094%

Price spread now: Backpack against RISEx+0.060%7-day average +0.025% · 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−$22as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.401%−$40 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.060%, 7d avg +0.025%

Together, before fees−0.536%−$54 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.034% dearer against RISEx than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	315.98	0.0666	pay 0.0083% / 1h	49m 39s	$436K	$672K	5x
Short	Backpack TAO_USDC_PERP	316.17	0.0663	get 0.0083% / 1h	49m 39s	$297K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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

Position, each leg$Hold fordaysFee RISExbpFee BackpackbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$0.67
Price spread: +0.060% → +0.025%: $3.45
Slippage, 4 orders: −$9.58
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$22.8
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from RISEx: live order book, 62 min ago; Backpack: live order book, 2 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 RISEx live order book, 62 min ago	1.88 bp	4.9 bp −$5	23.4 bp −$234	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	1.74 bp	9.0 bp −$9	176.6 bp −$1,766	doesn't fit	doesn't fit

TAO on 43 exchanges

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	316.86	+0.278%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.98	0.000%	$50K	$632K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.00	+0.006%	$26.8M	$128.1M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.80	−0.057%	$15.7M	$47.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.89	−0.029%	$17.5M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	315.83	−0.048%	$35.8M	$56.0M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	317.25	+0.402%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.09	+0.035%	$81K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.86	−0.038%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.76	−0.070%	$112K	$563K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0104%	8h	315.83	−0.048%	$3K	$1.3M	5x	as long as short
Bybit TAOUSDT	+0.0118%	4h	316.13	+0.047%	$69.2M	$155.6M	50x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.15	+0.055%	$174K	$998	3x	as long as short
Binance TAOUSDT	+0.0138%	4h	316.04	+0.017%	$92.9M	$511.0M	75x	as long as short
MEXC TAO_USDT	+0.0138%	4h	316.00	+0.006%	$105.2M	$147.4M	300x	as long as short
edgeX TAOUSDC	+0.0141%	4h	316.70	+0.228%	$42K	$324K	10x	as long as short
BingX TAO-USDT	+0.0146%	4h	316.08	+0.031%	—	$38.0M	—	as long as short
Phemex TAOUSDT	+0.0168%	4h	316.16	+0.057%	$3.2M	$8.1M	50x	as long as short
Lighter TAO	+0.0192%	1h	316.07	+0.029%	$1.6M	$6.6M	5x	as long as short
Paradex TAO-USD-PERP	+0.0204%	8h	316.08	+0.032%	$14K	$876	10x	as long as short
Extended TAO-USD	+0.0216%	1h	315.95	−0.009%	$959K	$2.1M	25x	as long as short
Pacifica TAO	+0.0240%	1h	316.03	+0.015%	$374K	$456K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0255%	4h	316.04	+0.019%	$53K	$262K	10x	as long as short
Bullet TAO-USD	+0.0259%	1h	316.17	+0.060%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0262%	4h	317.12	+0.361%	$541K	$805K	10x	as long as short
Aster TAOUSDT	+0.0305%	4h	316.02	+0.013%	$1.2M	$11.2M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0360% / S −0.0107%	1h	316.55	+0.179%	$372K	—	100x	as long as short
BloFin TAO-USDT	+0.0381%	4h	316.79	+0.256%	$4.9M	$10.4M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0382%	1h	316.02	+0.012%	$15K	$1.9M	25x	as long as short
Nado TAO-PERP	+0.0383%	1h	316.35	+0.118%	$695K	$2.0M	10x	as long as short
Variational Omni TAO	+0.0444%	4h	316.43	+0.144%	$5.7M	$9.8M	—	as long as short
Hyperliquid TAO	+0.0469%	1h	316.16	+0.057%	$95.2M	$107.0M	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	316.38	+0.126%	$100K	$310K	5x	as long as short
dYdX TAO-USD	+0.0623%	1h	316.04	+0.019%	$266K	$230K	5x	as long as short
01 Exchange TAOUSD	+0.0624%	1h	316.09	+0.035%	$3K	$2K	5x	as long as short
Phoenix TAO	+0.0650%	1h	317.60	+0.512%	$319K	$710K	5x	as long as short
Backpack TAO_USDC_PERPshort	+0.0663%	1h	316.17	+0.060%	$297K	$1.1M	10x
RISEx TAO/USDClong	+0.0666%	1h	315.98	long leg	$436K	$672K	5x
Coinbase International TAO-PERP-INTX	+0.0688%	1h	316.32	+0.107%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	316.25	+0.087%	$364	—	20x	as long as short
Bulk TAO-USD	+0.0807%	1h	318.75	+0.876%	$169K	$0	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0932%	1h	316.10	+0.037%	$6.2M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	322.67	+2.117%	$23K	$2K	12x	as long as short