Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h +0.023%

Price spread now: GMX against HTX−0.038%7-day average +0.112% · you buy dearer than you sell

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.137%+$14 on $10k

Price spread, last 3 days (all we have)+0.279%+$28 · spread now −0.038%, 7d avg +0.112%

Together, before fees+0.416%+$42 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 GMX is 0.150% cheaper against HTX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.112%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.137%, 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	HTX TAO-USDT	305.72	0.0100	pay 0.0050% / 4h	2h 26m	$120K	$352K	20x
Short	GMX TAO/USD [WBTC.b-USDC]	305.60	L +0.0174% / S +0.0069%	pay 0.0009% / 1h	26m 04s	$436K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$35.55
Price spread: −0.038% → +0.112%: −$15
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$74.55
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 61 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 HTX live order book, 61 min ago	31.40 bp	168.7 bp −$169	doesn't fit	doesn't fit	doesn't fit
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
dYdX TAO-USD	0.0000%	1h	305.59	−0.043%	$128K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	305.60	−0.039%	$22K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	305.13	−0.193%	$42K	$526K	20x	as long as short
Pacifica TAO	+0.0100%	1h	305.58	−0.046%	$361K	$401K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	306.14	+0.136%	$85.5M	$403.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	306.56	+0.275%	$59.2M	$118.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	306.50	+0.255%	$25.2M	$92.9M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.69	−0.010%	$137K	$596K	5x	as long as short
Bulk TAO-USD	+0.0100%	1h	307.07	+0.442%	$201K	$57K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	306.30	+0.190%	$12.2M	$48.1M	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	306.47	+0.245%	$113.8M	$123.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	306.46	+0.242%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	306.28	+0.183%	$34.3M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	306.49	+0.252%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	307.53	+0.592%	$3.6M	$6.5M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	307.34	+0.529%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.77	+0.670%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	307.19	+0.481%	$46K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.63	−0.029%	$86K	$667K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	305.77	+0.016%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	305.81	+0.029%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	305.75	+0.010%	$1K	$1.8M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	305.72	long leg	$120K	$352K	20x
Phemex TAOUSDT	+0.0100%	4h	305.94	+0.072%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	305.77	+0.015%	$168K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	305.35	−0.121%	$873	$434K	5x	as long as short
Aster TAOUSDT	+0.0145%	4h	305.53	−0.061%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0162%	8h	305.66	−0.019%	$14K	$1K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0174%	1h	305.88	+0.051%	$15K	$1.3M	25x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0174% / S +0.0069%	1h	305.60	−0.038%	$436K	—	100x
Phoenix TAO	+0.0234%	1h	305.60	−0.039%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0307%	1h	305.26	−0.150%	$833K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	305.11	−0.200%	$4.3M	$9.4M	100x	as long as short
01 Exchange TAOUSD	+0.0512%	1h	305.41	−0.101%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	305.51	−0.068%	$351	—	20x	as long as short
Extended TAO-USD	+0.0696%	1h	305.88	+0.053%	$897K	$2.0M	25x	as long as short
Lighter TAO	+0.0912%	1h	306.58	+0.281%	$1.6M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	306.79	+0.350%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1029%	1h	306.29	+0.185%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	305.35	−0.121%	$408K	$535K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1171%	1h	306.68	+0.314%	$443K	$715K	10x	as long as short
Hyperliquid TAO	+0.1718%	1h	307.09	+0.448%	$93.8M	$76.2M	5x	as long as short
Injective TAO/USDC PERP	+0.4876%	1h	305.96	+0.079%	$22K	$171	12x	as long as short