Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h +0.013%

Price spread now: GMX against KuCoin+0.163%7-day average −0.016% · you sell dearer than you buy

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.111%+$11 on $10k

Price spread, last 3 days (all we have)−0.132%−$13 · spread now +0.163%, 7d avg −0.016%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.178% dearer against KuCoin than usual: you sell high and buy low (spread +0.163% now, against its 7-day average of −0.016%): +$18 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.9 days. Mind the row above: over the last 3 days funding on this pair paid +0.111%, 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	KuCoin TAOUSDTM	318.38	0.0100	pay 0.0050% / 4h	1h 56m	$18.0M	$30.6M	75x
Short	GMX TAO/USD [WBTC.b-USDC]	318.90	L +0.0165% / S +0.0104%	pay 0.0013% / 1h	56m 06s	$433K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now +0.163%Rate

Funding earned: −$42.79
Price spread: +0.163% → −0.016%: $17.83
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$48.96
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	2.37 bp	24.9 bp −$25	40.0 bp −$400	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 42 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	−0.0185%	1h	315.28	−0.974%	$167K	$40K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	317.35	−0.324%	$127K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.63	+0.078%	$10K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.55	+0.053%	$45K	$645K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.36	−0.006%	$92.0M	$467.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.30	−0.025%	$26.4M	$115.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.00	−0.119%	$13.0M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	318.33	−0.016%	$104.6M	$137.4M	300x	as long as short
KuCoin TAOUSDTMlong	+0.0100%	4h	318.38	long leg	$18.0M	$30.6M	75x
Bitget TAOUSDT	+0.0100%	4h	317.88	−0.157%	$35.5M	$53.4M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.02	−0.428%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.69	+0.097%	$76K	$722K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	318.92	+0.170%	$58K	$282K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.34	−0.013%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.68	+0.094%	$131K	$474K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	318.21	−0.053%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	318.92	+0.170%	$175K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0114%	8h	318.19	−0.060%	$2K	$730K	5x	as long as short
ApeX Omni TAOUSDT	+0.0148%	1h	316.61	−0.556%	$47K	$252K	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0165% / S +0.0104%	1h	318.90	+0.163%	$433K	—	100x
GRVT TAO_USDT_Perp	+0.0192%	4h	317.15	−0.385%	$527K	$957K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0246%	1h	318.63	+0.077%	$5.6M	$20.5M	50x	as long as short
Aster TAOUSDT	+0.0265%	4h	318.44	+0.019%	$1.2M	$9.3M	50x	as long as short
Paradex TAO-USD-PERP	+0.0351%	8h	318.09	−0.091%	$14K	$1K	10x	as long as short
Bullet TAO-USD	+0.0381%	1h	319.04	+0.208%	$12K	$18K	20x	as long as short
Pacifica TAO	+0.0448%	1h	317.56	−0.257%	$375K	$393K	10x	as long as short
Arcus TAO-USD	+0.0509%	1h	318.52	+0.044%	$100K	$489K	5x	as long as short
Nado TAO-PERP	+0.0560%	1h	318.94	+0.177%	$763K	$2.1M	10x	as long as short
Phoenix TAO	+0.0588%	1h	316.10	−0.716%	$332K	$707K	5x	as long as short
BingX TAO-USDT	+0.0686%	4h	318.16	−0.069%	—	$30.3M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	318.93	+0.172%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0696%	1h	318.75	+0.116%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0729%	1h	318.91	+0.166%	$14K	$1.6M	25x	as long as short
Bybit TAOUSDT	+0.0743%	4h	318.42	+0.013%	$67.6M	$138.2M	50x	as long as short
Variational Omni TAO	+0.0865%	4h	319.02	+0.202%	$6.0M	$9.6M	—	as long as short
Backpack TAO_USDC_PERP	+0.0871%	1h	318.65	+0.085%	$322K	$802K	10x	as long as short
Extended TAO-USD	+0.0904%	1h	318.57	+0.061%	$900K	$2.3M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	319.28	+0.283%	$1.5M	$6.5M	50x	as long as short
Lighter TAO	+0.1104%	1h	318.72	+0.106%	$1.6M	$6.1M	5x	as long as short
RISEx TAO/USDC	+0.1159%	1h	318.32	−0.020%	$450K	$626K	5x	as long as short
Hyperliquid TAO	+0.1381%	1h	318.78	+0.126%	$100.7M	$98.0M	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	320.94	+0.804%	$23K	$2K	12x	as long as short