Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.095%

Price spread now: MEXC against GMX+0.094%7-day average +0.007% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.353%−$35 on $10k

Price spread, last 3 days (all we have)−0.136%−$14 · spread now +0.094%, 7d avg +0.007%

Together, before fees−0.489%−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.087% dearer against GMX than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.007%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.0 days. At the pace of the last 3 days (−0.353% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	319.76	L +0.0174% / S +0.0089%	pay 0.0022% / 1h	36m 15s	$463K	—	100x
Short	MEXC TAO_USDT	320.06	0.0100	get 0.0050% / 4h	3h 36m	$107.6M	$133.9M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$15.45
Price spread: +0.094% → +0.007%: $8.74
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$18.71
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	1.42 bp	5.5 bp −$6	18.9 bp −$189	28.7 bp −$2,869	90.3 bp −$45.1K

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	−0.1322%	1h	319.84	+0.026%	$170K	$44K	10x	as long as short
Phemex TAOUSDT	−0.0658%	4h	319.31	−0.140%	$3.5M	$7.9M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	319.25	−0.159%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.70	−0.018%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.26	−0.156%	$43K	$586K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	319.75	−0.003%	$92.5M	$445.6M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.70	−0.018%	$26.2M	$108.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.70	−0.018%	$13.0M	$50.3M	50x	as long as short
MEXC TAO_USDTshort	+0.0100%	4h	320.06	+0.094%	$107.6M	$133.9M	300x
KuCoin TAOUSDTM	+0.0100%	4h	318.58	−0.368%	$18.2M	$29.1M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TAOUSDT	+0.0100%	4h	319.96	+0.063%	$35.7M	$50.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	318.20	−0.486%	$40K	$292K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	316.52	−1.012%	$524K	$960K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	319.83	+0.022%	$57K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.90	+0.044%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.06	+0.094%	$128K	$424K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	320.33	+0.178%	$176K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0122%	8h	319.34	−0.131%	$2K	$615K	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0174% / S +0.0089%	1h	319.76	long leg	$463K	—	100x
Bullet TAO-USD	+0.0174%	1h	320.09	+0.104%	$12K	$18K	20x	as long as short
Pacifica TAO	+0.0185%	1h	319.84	+0.026%	$379K	$374K	10x	as long as short
ApeX Omni TAOUSDT	+0.0192%	1h	318.59	−0.365%	$48K	$266K	50x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.88	+0.038%	$85K	$550K	5x	as long as short
Aster TAOUSDT	+0.0228%	4h	319.55	−0.065%	$1.1M	$8.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0238%	8h	319.71	−0.015%	$15K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0247%	1h	320.03	+0.083%	$18K	$1.6M	25x	as long as short
Polymarket Perps TAO-USD	+0.0310%	1h	319.65	−0.034%	$94K	$638K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.91	+0.047%	$4.5M	$10.9M	100x	as long as short
Bybit TAOUSDT	+0.0364%	4h	319.98	+0.069%	$65.7M	$132.5M	50x	as long as short
Variational Omni TAO	+0.0398%	4h	320.33	+0.177%	$5.6M	$8.7M	—	as long as short
BingX TAO-USDT	+0.0428%	4h	320.14	+0.119%	—	$30.5M	—	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	319.81	+0.016%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	317.50	−0.706%	$332K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	318.09	−0.522%	$23K	$665	12x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	319.75	−0.003%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.52	−0.074%	$367	—	20x	as long as short
Nado TAO-PERP	+0.0778%	1h	318.91	−0.265%	$891K	$2.0M	10x	as long as short
Backpack TAO_USDC_PERP	+0.0875%	1h	320.16	+0.126%	$324K	$819K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.95	+0.060%	$1.5M	$6.2M	50x	as long as short
Extended TAO-USD	+0.1120%	1h	320.13	+0.115%	$934K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.73	−0.008%	$425K	$600K	5x	as long as short
Lighter TAO	+0.1528%	1h	320.00	+0.077%	$1.7M	$6.0M	5x	as long as short
Hyperliquid TAO	+0.2427%	1h	320.19	+0.135%	$103.4M	$90.6M	5x	as long as short