Funding you earn now, next payment 23:00 UTC−0.1102%/8h= −120.6% APRnext payment −$1.38 per $10,000 · paid last 24h −0.124%
Price spread now: GMX against Kraken Futures−0.121%7-day average −0.057% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.086%−$9 on $10k
+Price spread, last 3 days (all we have)+0.154%+$15 · spread now −0.121%, 7d avg −0.057%
=Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and GMX is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.057%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.086% in total (about -10.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.38 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_TAOUSD | 305.95 | 0.1032 | pay 0.0129% / 1h | 14m 37s | $5.8M | $19.6M | 50x |
| Short | GMX TAO/USD [WBTC.b-USDC] | 305.58 | L +0.0174% / S +0.0069% | pay 0.0009% / 1h | 14m 37s | $436K | — | 100x |
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$231.34
- Price spread: −0.121% → −0.057%
- −$6.36
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$259.7
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 4 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 Kraken Futures live order book, 4 min ago | 4.91 bp | 14.3 bp −$14 | 26.0 bp −$260 | 94.6 bp −$9,456 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 305.64 | −0.103% | $20K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0014% | 1h | 305.66 | −0.097% | $125K | $85K | 5x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 305.70 | −0.083% | $45K | $539K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.73 | −0.072% | $85.5M | $414.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 305.86 | −0.030% | $59.3M | $121.3M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 305.80 | −0.050% | $24.6M | $95.5M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 305.88 | −0.024% | $79K | $643K | 5x | as long as short |
| Bulk TAO-USD | +0.0100% | 1h | 302.77 | −1.040% | $162K | $54K | 10x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 305.60 | −0.115% | $12.2M | $49.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 305.85 | −0.034% | $113.7M | $125.8M | 300x | as long as short |
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
Popdex TAOUSDT
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Bulk TAO-USD
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 305.79 | −0.053% | $18.2M | $27.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 305.61 | −0.112% | $34.1M | $45.8M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 305.70 | −0.083% | — | $30.3M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 305.77 | −0.061% | $3.7M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.94 | −0.005% | $40K | $280K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.70 | −0.082% | $505K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.91 | −0.014% | $46K | $269K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 305.82 | −0.044% | $75K | $556K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 305.84 | −0.037% | $11K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 305.72 | −0.076% | $59K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 305.73 | −0.073% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 305.93 | −0.008% | $122K | $368K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 305.86 | −0.030% | $3.3M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.88 | −0.022% | $168K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 305.69 | −0.086% | $625 | $506K | 5x | as long as short |
| Aster TAOUSDT | +0.0119% | 4h | 305.70 | −0.084% | $1.1M | $7.7M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0154% | 8h | 305.58 | −0.121% | $14K | $1K | 10x | as long as short |
| Pacifica TAO | +0.0164% | 1h | 305.80 | −0.050% | $361K | $370K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC]short | L +0.0174% / S +0.0069% | 1h | 305.58 | −0.121% | $436K | — | 100x | |
| Deribit TAO_USDC-PERPETUAL | +0.0275% | 1h | 305.79 | −0.053% | $19K | $1.4M | 25x | as long as short |
| Nado TAO-PERP | +0.0325% | 1h | 305.66 | −0.095% | $825K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.68 | −0.089% | $4.2M | $9.5M | 100x | as long as short |
| Lighter TAO | +0.0352% | 1h | 306.00 | +0.016% | $1.6M | $5.4M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0408% | 1h | 305.74 | −0.070% | $3K | $4K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0451% | 1h | 306.15 | +0.064% | $294K | $800K | 10x | as long as short |
| Phoenix TAO | +0.0521% | 1h | 306.20 | +0.081% | $320K | $491K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 305.72 | −0.078% | $352 | — | 20x | as long as short |
| Extended TAO-USD | +0.0736% | 1h | 305.57 | −0.124% | $834K | $2.0M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1008% | 1h | 306.04 | +0.028% | $1.5M | $5.5M | 50x | as long as short |
| Kraken Futures PF_TAOUSDlong | +0.1032% | 1h | 305.95 | long leg | $5.8M | $19.6M | 50x | |
| Hyperliquid TAO | +0.1086% | 1h | 306.22 | +0.087% | $93.2M | $80.7M | 5x | as long as short |
| RISEx TAO/USDC | +0.1155% | 1h | 305.80 | −0.049% | $416K | $544K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.1621% | 1h | 308.73 | +0.908% | $22K | $264 | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Pacifica TAO
Deribit TAO_USDC-PERPETUAL
Nado TAO-PERP
BloFin TAO-USDT
Lighter TAO
01 Exchange TAOUSD
Backpack TAO_USDC_PERP
Phoenix TAO
Reya TAORUSDPERP
Extended TAO-USD
Coinbase International TAO-PERP-INTX
Hyperliquid TAO
RISEx TAO/USDC
Injective TAO/USDC PERP