TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0166%/8h= −18.2% APRnext payment −$0.21 per $10,000 · paid last 24h −0.075%

Price spread now: dYdX against GMX−0.273%7-day average −0.030% · you buy dearer than you sell

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

Long on GMX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.194%−$19 on $10k

Price spread, last 3 days (all we have)+0.153%+$15 · spread now −0.273%, 7d avg −0.030%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and dYdX is 0.242% cheaper against GMX than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	317.96	L +0.0166% / S +0.0103%	pay 0.0021% / 1h	2m 36s	$433K	—	100x
Short	dYdX TAO-USD	317.09	0	get 0.0000% / 1h	2m 36s	$127K	$84K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against GMX. 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 GMXbpFee dYdXbpOrdersPrice spread, now −0.273%Rate

Funding earned: −$34.9
Price spread: −0.273% → −0.030%: −$24.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$81.13
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; dYdX: live order book, 1 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell dYdX live order book, 1 min ago	38.70 bp	43.7 bp −$44	58.9 bp −$589	210.2 bp −$21.0K	437.5 bp −$218.8K

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 42 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	−0.0185%	1h	315.28	−0.843%	$167K	$40K	10x	as long as short
dYdX TAO-USDshort	0.0000%	1h	317.09	−0.273%	$127K	$84K	5x
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.10	+0.044%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.88	+0.289%	$44K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	317.38	−0.182%	$91.5M	$466.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	317.60	−0.113%	$26.3M	$114.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	317.30	−0.208%	$13.0M	$51.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	317.49	−0.148%	$103.5M	$140.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	317.44	−0.164%	$18.0M	$30.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	317.50	−0.145%	$35.4M	$53.4M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	316.38	−0.498%	$36K	$300K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.90	+0.296%	$77K	$713K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.45	+0.154%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	317.96	0.000%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.34	+0.120%	$130K	$471K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	317.79	−0.053%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.66	+0.221%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0115%	8h	317.97	+0.003%	$676	$728K	5x	as long as short
ApeX Omni TAOUSDT	+0.0149%	1h	316.28	−0.528%	$47K	$253K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0166%	1h	318.11	+0.048%	$5.6M	$20.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0166% / S +0.0103%	1h	317.96	long leg	$433K	—	100x
GRVT TAO_USDT_Perp	+0.0192%	4h	316.84	−0.352%	$527K	$957K	10x	as long as short
Bullet TAO-USD	+0.0230%	1h	318.27	+0.098%	$12K	$18K	20x	as long as short
Pacifica TAO	+0.0285%	1h	317.51	−0.140%	$370K	$396K	10x	as long as short
Aster TAOUSDT	+0.0286%	4h	317.37	−0.186%	$1.2M	$9.3M	50x	as long as short
Arcus TAO-USD	+0.0337%	1h	318.09	+0.041%	$100K	$489K	5x	as long as short
Paradex TAO-USD-PERP	+0.0359%	8h	317.62	−0.107%	$14K	$1K	10x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	321.23	+1.028%	$23K	$2K	12x	as long as short
Nado TAO-PERP	+0.0521%	1h	318.73	+0.243%	$761K	$2.1M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0526%	1h	318.33	+0.115%	$14K	$1.6M	25x	as long as short
Phoenix TAO	+0.0588%	1h	317.40	−0.176%	$333K	$681K	5x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	319.20	+0.390%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	318.37	+0.129%	$366	—	20x	as long as short
Bybit TAOUSDT	+0.0724%	4h	317.74	−0.069%	$67.4M	$138.1M	50x	as long as short
BingX TAO-USDT	+0.0730%	4h	317.68	−0.088%	—	$30.9M	—	as long as short
Variational Omni TAO	+0.0857%	4h	316.54	−0.447%	$6.1M	$9.5M	—	as long as short
Extended TAO-USD	+0.0896%	1h	317.51	−0.142%	$905K	$2.3M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0926%	1h	317.84	−0.038%	$321K	$806K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.52	+0.491%	$1.5M	$6.5M	50x	as long as short
RISEx TAO/USDC	+0.1132%	1h	317.99	+0.008%	$450K	$626K	5x	as long as short
Hyperliquid TAO	+0.1345%	1h	317.72	−0.075%	$100.0M	$97.2M	5x	as long as short
Lighter TAO	+0.1376%	1h	317.86	−0.030%	$1.6M	$6.1M	5x	as long as short