Funding you earn now, next payment 06:00 UTC−0.0958%/8h= −104.9% APRnext payment −$1.20 per $10,000 · paid last 24h −0.132%
Price spread now: GMX against Lighter−0.149%7-day average −0.088% · 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)−0.097%−$10 on $10k
+Price spread, last 4 days (all we have)+0.203%+$20 · spread now −0.149%, 7d avg −0.088%
=Together, before fees+0.106%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and GMX is 0.061% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.088%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.097% in total (about -10.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 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 | Lighter TAO | 319.41 | 0.0816 | pay 0.0102% / 1h | 13m 05s | $1.5M | $6.6M | 5x |
| Short | GMX TAO/USD [WBTC.b-USDC] | 318.93 | L +0.0127% / S +0.0142% | pay 0.0018% / 1h | 13m 05s | $427K | — | 100x |
Lighter TAO
GMX TAO/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Lighter. 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
- −$201.15
- Price spread: −0.149% → −0.088%
- −$6.09
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$219.24
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 5 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 Lighter live order book, 5 min ago | 3.49 bp | 8.3 bp −$8 | 25.4 bp −$254 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.0038% | 1h | 313.74 | −1.774% | $167K | $333 | 10x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 318.97 | −0.136% | $21K | — | 150x | as long as short |
| dYdX TAO-USD | +0.0033% | 1h | 318.94 | −0.145% | $127K | $85K | 5x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.60 | −0.253% | $26.7M | $125.4M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.80 | −0.190% | $14.2M | $51.6M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 319.08 | −0.102% | $17.6M | $31.5M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 318.54 | −0.271% | $35.9M | $57.4M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 318.35 | −0.332% | $42K | $317K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 319.22 | −0.059% | $91K | $920K | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.01 | −0.124% | $2K | $1.9M | 20x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
dYdX TAO-USD
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
Polymarket Perps TAO-USD
SunX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TAO-USDT | +0.0100% | 4h | 318.94 | −0.146% | $116K | $565K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 318.89 | −0.162% | $3.2M | $8.1M | 50x | as long as short |
| MEXC TAO_USDT | +0.0104% | 4h | 319.25 | −0.049% | $100.9M | $148.0M | 300x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.51 | +0.032% | $175K | $998 | 3x | as long as short |
| Binance TAOUSDT | +0.0104% | 4h | 318.88 | −0.165% | $91.5M | $513.1M | 75x | as long as short |
| Katana Perps TAO-USD | +0.0110% | 8h | 319.08 | −0.102% | $2K | $945K | 5x | as long as short |
| Orderly PERP_TAO_USDC | +0.0118% | 4h | 319.23 | −0.055% | $53K | $291K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC]short | L +0.0127% / S +0.0142% | 1h | 318.93 | −0.149% | $427K | — | 100x | |
| Popdex TAOUSDT | +0.0128% | 1h | 319.40 | −0.002% | $54K | $671K | 20x | as long as short |
| Pacifica TAO | +0.0233% | 1h | 319.34 | −0.022% | $364K | $420K | 10x | as long as short |
| Aster TAOUSDT | +0.0265% | 4h | 318.99 | −0.131% | $1.3M | $10.7M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0280% | 8h | 319.67 | +0.084% | $15K | $1K | 10x | as long as short |
| Nado TAO-PERP | +0.0282% | 1h | 319.46 | +0.016% | $803K | $2.2M | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0298% | 1h | 319.35 | −0.018% | $6.0M | $21.6M | 50x | as long as short |
| Bullet TAO-USD | +0.0325% | 1h | 319.38 | −0.008% | $12K | $17K | 20x | as long as short |
| BloFin TAO-USDT | +0.0344% | 4h | 319.43 | +0.007% | $3.7M | $11.0M | 100x | as long as short |
| Bybit TAOUSDT | +0.0384% | 4h | 318.91 | −0.156% | $69.8M | $153.7M | 50x | as long as short |
| BingX TAO-USDT | +0.0400% | 4h | 318.84 | −0.178% | — | $33.8M | — | as long as short |
| GRVT TAO_USDT_Perp | +0.0436% | 4h | 318.55 | −0.268% | $545K | $935K | 10x | as long as short |
| Variational Omni TAO | +0.0467% | 4h | 317.98 | −0.446% | $5.6M | $10.1M | — | as long as short |
| Arcus TAO-USD | +0.0483% | 1h | 319.72 | +0.098% | $103K | $345K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0500% | 1h | 319.26 | −0.045% | $15K | $1.8M | 25x | as long as short |
| ApeX Omni TAOUSDT | +0.0504% | 1h | 318.01 | −0.437% | $45K | $256K | 50x | as long as short |
| Extended TAO-USD | +0.0504% | 1h | 319.15 | −0.080% | $906K | $2.4M | 25x | as long as short |
| Phoenix TAO | +0.0513% | 1h | 318.90 | −0.159% | $317K | $713K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 319.20 | −0.063% | $367 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0800% | 1h | 319.73 | +0.101% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.0807% | 1h | 319.28 | −0.040% | $93.7M | $109.5M | 5x | as long as short |
| Lighter TAOlong | +0.0816% | 1h | 319.41 | long leg | $1.5M | $6.6M | 5x | |
| Backpack TAO_USDC_PERP | +0.0839% | 1h | 319.20 | −0.065% | $316K | $890K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0928% | 1h | 319.97 | +0.176% | $1.5M | $7.0M | 50x | as long as short |
| RISEx TAO/USDC | +0.0948% | 1h | 319.34 | −0.022% | $461K | $649K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.3711% | 1h | 322.94 | +1.106% | $23K | $2K | 12x | as long as short |
HTX TAO-USDT
Phemex TAOUSDT
MEXC TAO_USDT
Aevo TAO-PERP
Binance TAOUSDT
Katana Perps TAO-USD
Orderly PERP_TAO_USDC
Popdex TAOUSDT
Pacifica TAO
Aster TAOUSDT
Paradex TAO-USD-PERP
Nado TAO-PERP
Kraken Futures PF_TAOUSD
Bullet TAO-USD
BloFin TAO-USDT
Bybit TAOUSDT
BingX TAO-USDT
GRVT TAO_USDT_Perp
Variational Omni TAO
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
ApeX Omni TAOUSDT
Extended TAO-USD
Phoenix TAO
Reya TAORUSDPERP
01 Exchange TAOUSD
Hyperliquid TAO
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Injective TAO/USDC PERP