Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.007%

Price spread now: GMX against Gate+0.016%7-day average +0.024% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.016%, 7d avg +0.024%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.098%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	318.70	0.0100	pay 0.0050% / 4h	1h 37m	$14.2M	$51.7M	50x
Short	GMX TAO/USD [WBTC.b-USDC]	318.75	L +0.0120% / S +0.0157%	pay 0.0020% / 1h	37m 04s	$431K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$54.02
Price spread: +0.016% → +0.024%: −$0.81
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$81.83
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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 Gate live order book, 2 min ago	3.13 bp	14.7 bp −$15	38.4 bp −$384	54.8 bp −$5,476	91.3 bp −$45.6K
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2019%	1h	319.65	+0.298%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	318.75	+0.014%	$127K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.25	+0.172%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.31	+0.191%	$41K	$703K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.90	+0.063%	$26.5M	$129.1M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	318.70	long leg	$14.2M	$51.7M	50x
KuCoin TAOUSDTM	+0.0100%	4h	318.82	+0.038%	$17.8M	$32.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.53	−0.053%	$35.7M	$58.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.72	+0.320%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.16	+0.144%	$80K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	318.85	+0.047%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.70	0.000%	$118K	$589K	20x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	319.23	+0.166%	$724	$1.0M	5x	as long as short
Orderly PERP_TAO_USDC	+0.0119%	4h	319.03	+0.104%	$53K	$292K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0120% / S +0.0157%	1h	318.75	+0.016%	$431K	—	100x
Aevo TAO-PERP	+0.0120%	1h	319.09	+0.121%	$175K	$998	3x	as long as short
MEXC TAO_USDT	+0.0158%	4h	318.68	−0.006%	$104.7M	$149.8M	300x	as long as short
edgeX TAOUSDC	+0.0158%	4h	319.79	+0.343%	$42K	$317K	10x	as long as short
Binance TAOUSDT	+0.0161%	4h	318.91	+0.066%	$92.2M	$527.6M	75x	as long as short
Paradex TAO-USD-PERP	+0.0257%	8h	318.83	+0.041%	$14K	$1K	10x	as long as short
Phemex TAOUSDT	+0.0257%	4h	318.93	+0.072%	$3.2M	$8.1M	50x	as long as short
Aster TAOUSDT	+0.0314%	4h	318.99	+0.092%	$1.3M	$10.9M	50x	as long as short
Bybit TAOUSDT	+0.0362%	4h	318.86	+0.050%	$69.6M	$155.8M	50x	as long as short
BingX TAO-USDT	+0.0370%	4h	318.88	+0.056%	—	$34.5M	—	as long as short
Bullet TAO-USD	+0.0386%	1h	319.20	+0.157%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0401%	4h	319.27	+0.179%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0402%	4h	319.74	+0.327%	$544K	$940K	10x	as long as short
Extended TAO-USD	+0.0480%	1h	318.91	+0.067%	$912K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	318.94	+0.076%	$363K	$423K	10x	as long as short
Variational Omni TAO	+0.0535%	4h	319.70	+0.313%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	319.70	+0.314%	$318K	$709K	5x	as long as short
Hyperliquid TAO	+0.0627%	1h	318.94	+0.075%	$94.3M	$110.1M	5x	as long as short
01 Exchange TAOUSD	+0.0632%	1h	319.64	+0.295%	$3K	$4K	5x	as long as short
Nado TAO-PERP	+0.0635%	1h	319.14	+0.137%	$796K	$2.1M	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	319.98	+0.402%	$103K	$394K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0643%	1h	318.96	+0.082%	$11K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0670%	1h	318.93	+0.072%	$299K	$904K	10x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.34	+0.201%	$367	—	20x	as long as short
Lighter TAO	+0.0824%	1h	319.09	+0.123%	$1.5M	$6.7M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.89	+0.687%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	319.14	+0.137%	$458K	$664K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1157%	1h	319.03	+0.105%	$6.0M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	323.63	+1.547%	$24K	$2K	12x	as long as short