Funding you earn now, next payment 12:00 UTC−0.0371%/8h= −40.6% APRpaid last 24h −0.031%
Price spread now: GMX against Phemex+0.078%52s7-day average −0.028% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.078%+$8 on $10k
+Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.078%, 7d avg −0.028%
=The price spread pays, funding is against you. GMX is 0.106% dearer against Phemex than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of −0.028%): +$11 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 4 days funding on this pair paid +0.078%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.078% in total (about 7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TAOUSDT | 312.73 | 0.0485 | pay 0.0242% / 4h | 48m 16s | $3.1M | $8.3M | 50x |
| Short | GMX TAO/USD [WBTC.b-USDC] | 312.97 | L +0.0371% / S −0.0114% | get 0.0014% / 1h | 48m 16s | $377K | — | 100x |
Phemex TAOUSDT
GMX TAO/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Phemex. 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
- −$77.88
- Price spread: +0.078% → −0.028%
- $10.6
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$91.28
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: Phemex: 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 Phemex live order book, 4 min ago | 6.89 bp | 17.2 bp −$17 | 41.3 bp −$413 | 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 exchanges
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 −0.0003% | 1h | 313.00 | +0.085% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 313.27 | +0.173% | $54K | $632K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 313.40 | +0.214% | $26.7M | $125.6M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 312.90 | +0.054% | $16.1M | $46.5M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 313.28 | +0.176% | $17.2M | $31.0M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 313.20 | +0.150% | $35.4M | $54.3M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 313.14 | +0.131% | $68K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 313.27 | +0.173% | $2K | $1.7M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 312.59 | −0.045% | $114K | $550K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0102% | 8h | 313.08 | +0.112% | $1K | $1.3M | 5x | as long as short |
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USDShow all 43 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended TAO-USD | +0.0104% | 1h | 313.46 | +0.232% | $922K | $2.1M | 25x | as long as short |
| ApeX Omni TAOUSDT | +0.0105% | 1h | 312.02 | −0.227% | $44K | $254K | 50x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 314.33 | +0.512% | $173K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0166% | 4h | 313.16 | +0.137% | $111.6M | $147.1M | 300x | as long as short |
| Binance TAOUSDT | +0.0168% | 4h | 313.21 | +0.155% | $92.9M | $507.0M | 75x | as long as short |
| edgeX TAOUSDC | +0.0172% | 4h | 311.93 | −0.255% | $41K | $325K | 10x | as long as short |
| Pacifica TAO | +0.0223% | 1h | 313.76 | +0.329% | $381K | $455K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0272% | 4h | 312.02 | −0.226% | $531K | $786K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0280% | 4h | 313.46 | +0.233% | $52K | $262K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0298% | 8h | 313.76 | +0.331% | $14K | $769 | 10x | as long as short |
| Bullet TAO-USD | +0.0309% | 1h | 313.33 | +0.192% | $12K | $16K | 20x | as long as short |
| Lighter TAO | +0.0312% | 1h | 313.92 | +0.380% | $1.6M | $6.7M | 5x | as long as short |
| Aster TAOUSDT | +0.0353% | 4h | 313.24 | +0.164% | $1.2M | $11.5M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC]short | L +0.0371% / S −0.0114% | 1h | 312.97 | +0.078% | $377K | — | 100x | |
| BingX TAO-USDT | +0.0372% | 4h | 313.25 | +0.166% | — | $37.7M | — | as long as short |
| Bybit TAOUSDT | +0.0392% | 4h | 313.57 | +0.269% | $69.3M | $154.5M | 50x | as long as short |
| BloFin TAO-USDT | +0.0406% | 4h | 312.15 | −0.185% | $4.9M | $10.5M | 100x | as long as short |
| dYdX TAO-USD | +0.0461% | 1h | 313.18 | +0.144% | $264K | $230K | 5x | as long as short |
| Nado TAO-PERP | +0.0482% | 1h | 313.06 | +0.105% | $651K | $2.0M | 10x | as long as short |
| Phemex TAOUSDTlong | +0.0485% | 4h | 312.73 | long leg | $3.1M | $8.3M | 50x | |
| Hyperliquid TAO | +0.0554% | 1h | 313.19 | +0.147% | $93.6M | $105.4M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0568% | 1h | 313.49 | +0.244% | $23K | $1.9M | 25x | as long as short |
| Arcus TAO-USD | +0.0587% | 1h | 313.50 | +0.246% | $99K | $285K | 5x | as long as short |
| Variational Omni TAO | +0.0603% | 4h | 312.01 | −0.229% | $6.2M | $10.1M | — | as long as short |
| Phoenix TAO | +0.0636% | 1h | 312.80 | +0.022% | $314K | $701K | 5x | as long as short |
| RISEx TAO/USDC | +0.0694% | 1h | 313.15 | +0.136% | $436K | $664K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 313.02 | +0.093% | $360 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0728% | 1h | 313.68 | +0.304% | $1.1M | $7.4M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0784% | 1h | 313.61 | +0.281% | $3K | $2K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0862% | 1h | 313.48 | +0.241% | $6.2M | $19.6M | 50x | as long as short |
| Backpack TAO_USDC_PERP | +0.0883% | 1h | 312.80 | +0.022% | $297K | $1.1M | 10x | as long as short |
| Bulk TAO-USD | +0.1436% | 1h | 313.89 | +0.371% | $166K | $662 | 10x | as long as short |
| Injective TAO/USDC PERP | +0.4136% | 1h | 317.23 | +1.439% | $23K | $2K | 12x | as long as short |
Extended TAO-USD
ApeX Omni TAOUSDT
Aevo TAO-PERP
MEXC TAO_USDT
Binance TAOUSDT
edgeX TAOUSDC
Pacifica TAO
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
Paradex TAO-USD-PERP
Bullet TAO-USD
Lighter TAO
Aster TAOUSDT
BingX TAO-USDT
Bybit TAOUSDT
BloFin TAO-USDT
dYdX TAO-USD
Nado TAO-PERP
Hyperliquid TAO
Deribit TAO_USDC-PERPETUAL
Arcus TAO-USD
Variational Omni TAO
Phoenix TAO
RISEx TAO/USDC
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
01 Exchange TAOUSD
Kraken Futures PF_TAOUSD
Backpack TAO_USDC_PERP
Bulk TAO-USD
Injective TAO/USDC PERP