TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0346%/8h= +37.9% APRnext payment +$0.43 per $10,000 · paid last 24h −0.018%

Price spread now: Phoenix against GMX−0.116%7-day average +0.140% · you buy dearer than you sell

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

Long on GMX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.123%−$12 on $10k

Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.116%, 7d avg +0.140%

Together, before fees−0.051%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.256% cheaper against GMX than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of +0.140%). If the spread goes back, that is −$26 on $10k: about 2.5 days of funding at the current rate (+$10 a day). Mind the row above: over the last 3 days funding on this pair cost −0.123%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	303.05	L +0.0174% / S +0.0069%	pay 0.0022% / 1h	32m 34s	$433K	—	100x
Short	Phoenix TAO	302.70	0.0521	get 0.0065% / 1h	32m 34s	$321K	$491K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.116%Rate

Funding earned: $72.73
Price spread: −0.116% → +0.140%: −$25.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $28.11
Costs to cover: 0.190%
Break-even: 4.3 days

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 50 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 Phoenix live order book, 50 min ago	3.24 bp	18.8 bp −$19	26.2 bp −$262	doesn't fit	doesn't fit

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	−0.0186%	1h	303.81	+0.250%	$162K	$54K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.47	+0.138%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.09	+0.011%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.45	+0.131%	$44K	$536K	20x	as long as short
Aster TAOUSDT	+0.0100%	4h	303.51	+0.150%	$1.1M	$7.7M	50x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.28	+0.076%	$84.8M	$413.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.36	+0.101%	$58.6M	$121.1M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.20	+0.049%	$24.4M	$95.1M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.65	+0.197%	$79K	$643K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.40	+0.115%	$12.1M	$48.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	303.70	+0.214%	$110.3M	$125.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	302.89	−0.054%	$18.5M	$27.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.23	+0.059%	$33.8M	$46.0M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.60	+0.181%	—	$30.3M	—	as long as short
Variational Omni TAO	+0.0100%	4h	303.56	+0.167%	$3.7M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	302.63	−0.138%	$39K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	302.58	−0.155%	$500K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	302.62	−0.143%	$45K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	303.46	+0.134%	$74K	$604K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	303.26	+0.068%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.25	+0.065%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.08	+0.009%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.24	+0.062%	$121K	$363K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.12	+0.022%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.59	+0.176%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0111%	8h	303.47	+0.138%	$3K	$494K	5x	as long as short
Paradex TAO-USD-PERP	+0.0154%	8h	303.63	+0.190%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.71	+0.218%	$358K	$371K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0174% / S +0.0069%	1h	303.05	long leg	$433K	—	100x
Deribit TAO_USDC-PERPETUAL	+0.0205%	1h	303.26	+0.070%	$21K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	302.95	−0.034%	$4.2M	$9.3M	100x	as long as short
Nado TAO-PERP	+0.0344%	1h	303.24	+0.061%	$818K	$1.9M	10x	as long as short
Lighter TAO	+0.0344%	1h	303.82	+0.255%	$1.6M	$5.3M	5x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.56	+0.167%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0435%	1h	303.26	+0.068%	$377K	$757K	10x	as long as short
Phoenix TAOshort	+0.0521%	1h	302.70	−0.116%	$321K	$491K	5x
Reya TAORUSDPERP	+0.0695%	1h	303.33	+0.092%	$349	—	20x	as long as short
Extended TAO-USD	+0.0824%	1h	303.53	+0.157%	$825K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	304.02	+0.319%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1042%	1h	303.17	+0.037%	$5.7M	$19.6M	50x	as long as short
Hyperliquid TAO	+0.1068%	1h	303.35	+0.098%	$92.1M	$80.4M	5x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.65	+0.199%	$411K	$545K	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.873%	$22K	$264	12x	as long as short