Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h −0.060%

Price spread now: Paradex against GMX−0.118%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.118% cheaper against GMX than usual: you would sell low and buy high (spread −0.118% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 2.9 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	316.56	L +0.0105% / S +0.0138%	pay 0.0013% / 1h	20m 11s	$403K	—	100x
Short	Paradex TAO-USD-PERP	316.19	0.0242	get 0.0242% / 8h	20m 11s	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.118%Rate

Funding earned: $28.73
Price spread: −0.118% → 0.000%: −$11.81
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $0.92
Costs to cover: 0.160%
Break-even: 6.8 days

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	316.59	+0.008%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0066%	1h	315.36	−0.380%	$126K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.40	−0.052%	$45K	$714K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.90	+0.106%	$26.4M	$130.6M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.40	−0.052%	$14.6M	$51.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.62	+0.018%	$17.8M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.63	+0.021%	$35.6M	$57.9M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	316.06	−0.159%	$45K	$260K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.24	−0.102%	$88K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	316.19	−0.118%	$2K	$2.0M	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	315.77	−0.251%	$116K	$603K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0105% / S +0.0138%	1h	316.56	long leg	$403K	—	100x
Katana Perps TAO-USD	+0.0106%	8h	316.13	−0.137%	$830	$1.1M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	316.65	+0.027%	$174K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0163%	4h	316.72	+0.050%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0165%	4h	315.99	−0.183%	$42K	$319K	10x	as long as short
MEXC TAO_USDT	+0.0170%	4h	316.97	+0.129%	$102.9M	$152.3M	300x	as long as short
Binance TAOUSDT	+0.0171%	4h	316.97	+0.127%	$91.8M	$530.9M	75x	as long as short
Paradex TAO-USD-PERPshort	+0.0242%	8h	316.19	−0.118%	$14K	$1K	10x
BingX TAO-USDT	+0.0250%	4h	316.93	+0.116%	—	$37.3M	—	as long as short
Bybit TAOUSDT	+0.0254%	4h	317.03	+0.147%	$69.4M	$156.8M	50x	as long as short
Bullet TAO-USD	+0.0276%	1h	316.81	+0.078%	$12K	$17K	20x	as long as short
GRVT TAO_USDT_Perp	+0.0302%	4h	315.30	−0.398%	$536K	$921K	10x	as long as short
Pacifica TAO	+0.0313%	1h	315.72	−0.266%	$370K	$462K	10x	as long as short
Aster TAOUSDT	+0.0334%	4h	316.64	+0.024%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0360%	1h	316.75	+0.059%	$899K	$2.4M	25x	as long as short
BloFin TAO-USDT	+0.0411%	4h	315.72	−0.266%	$4.7M	$10.9M	100x	as long as short
Phemex TAOUSDT	+0.0442%	4h	316.66	+0.031%	$3.2M	$8.2M	50x	as long as short
Nado TAO-PERP	+0.0459%	1h	316.15	−0.130%	$780K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	316.63	+0.021%	$100K	$384K	5x	as long as short
Lighter TAO	+0.0544%	1h	317.00	+0.137%	$1.6M	$6.9M	5x	as long as short
Variational Omni TAO	+0.0557%	4h	315.52	−0.330%	$5.5M	$10.2M	—	as long as short
Phoenix TAO	+0.0629%	1h	316.40	−0.052%	$318K	$703K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0662%	1h	317.14	+0.182%	$296K	$905K	10x	as long as short
01 Exchange TAOUSD	+0.0672%	1h	316.78	+0.069%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	316.37	−0.061%	$364	—	20x	as long as short
Hyperliquid TAO	+0.0711%	1h	316.46	−0.033%	$93.4M	$110.4M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0729%	1h	316.85	+0.091%	$15K	$1.9M	25x	as long as short
RISEx TAO/USDC	+0.0831%	1h	316.36	−0.066%	$447K	$658K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0836%	1h	316.88	+0.101%	$5.9M	$21.7M	50x	as long as short
Bulk TAO-USD	+0.0951%	1h	316.68	+0.037%	$168K	$0	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	317.06	+0.157%	$1.4M	$7.0M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	318.80	+0.707%	$23K	$2K	12x	as long as short