Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.010%

Price spread now: GMX against SunX−0.026%7-day average −0.010% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.352%+$35 · spread now −0.026%, 7d avg −0.010%

Together, before fees+0.442%+$44 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	319.53	0.0100	pay 0.0050% / 4h	3h 10m	$1K	$1.9M	20x
Short	GMX TAO/USD [WBTC.b-USDC]	319.45	L +0.0366% / S −0.0109%	get 0.0014% / 1h	10m 55s	$379K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $1.9
Price spread: −0.026% → −0.010%: −$1.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$19.7
Costs to cover: 0.200%
Break-even: 79.6 days

Slippage unknown: SunX: 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 SunX live order book, 5 min ago	500.09 bp	doesn't fit	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
Bulk TAO-USD	−0.0269%	1h	313.94	−1.749%	$167K	$0	10x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0003%	1h	319.46	−0.022%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.61	+0.025%	$49K	$699K	20x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.99	+0.144%	$70.0M	$153.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.80	+0.084%	$26.6M	$129.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.70	+0.053%	$15.2M	$50.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	319.82	+0.091%	$17.6M	$32.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.72	+0.059%	$36.0M	$56.7M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.40	−0.041%	$88K	$1.1M	5x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	319.53	long leg	$1K	$1.9M	20x

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TAO-USDT	+0.0100%	4h	319.13	−0.125%	$116K	$546K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.54	+0.003%	$3.2M	$8.2M	50x	as long as short
Katana Perps TAO-USD	+0.0119%	8h	319.47	−0.019%	$1K	$1.2M	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	319.93	+0.126%	$176K	$998	3x	as long as short
MEXC TAO_USDT	+0.0162%	4h	320.05	+0.163%	$112.7M	$154.6M	300x	as long as short
Binance TAOUSDT	+0.0163%	4h	319.99	+0.144%	$93.2M	$517.1M	75x	as long as short
edgeX TAOUSDC	+0.0165%	4h	318.91	−0.195%	$42K	$323K	10x	as long as short
BingX TAO-USDT	+0.0166%	4h	319.99	+0.144%	—	$38.8M	—	as long as short
Paradex TAO-USD-PERP	+0.0234%	8h	319.69	+0.050%	$15K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0242%	4h	319.74	+0.066%	$54K	$271K	10x	as long as short
Bullet TAO-USD	+0.0289%	1h	319.79	+0.081%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0292%	1h	319.06	−0.147%	$45K	$256K	50x	as long as short
Aster TAOUSDT	+0.0329%	4h	320.00	+0.146%	$1.3M	$11.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0332%	4h	319.18	−0.108%	$541K	$838K	10x	as long as short
Pacifica TAO	+0.0349%	1h	319.74	+0.067%	$363K	$437K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0366% / S −0.0109%	1h	319.45	−0.026%	$379K	—	100x
BloFin TAO-USDT	+0.0403%	4h	319.69	+0.050%	$4.8M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0404%	1h	319.87	+0.106%	$101K	$340K	5x	as long as short
Extended TAO-USD	+0.0408%	1h	319.78	+0.078%	$968K	$2.3M	25x	as long as short
dYdX TAO-USD	+0.0424%	1h	319.35	−0.058%	$129K	$87K	5x	as long as short
Nado TAO-PERP	+0.0442%	1h	319.73	+0.063%	$751K	$2.0M	10x	as long as short
Phoenix TAO	+0.0578%	1h	319.80	+0.084%	$322K	$714K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0595%	1h	319.74	+0.066%	$9K	$1.8M	25x	as long as short
Variational Omni TAO	+0.0612%	4h	318.74	−0.248%	$5.6M	$9.9M	—	as long as short
Lighter TAO	+0.0624%	1h	319.91	+0.118%	$1.6M	$6.8M	5x	as long as short
Hyperliquid TAO	+0.0638%	1h	320.00	+0.147%	$95.1M	$109.8M	5x	as long as short
01 Exchange TAOUSD	+0.0664%	1h	319.79	+0.081%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	319.67	+0.045%	$368	—	20x	as long as short
Backpack TAO_USDC_PERP	+0.0736%	1h	319.80	+0.084%	$317K	$1.0M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0778%	1h	319.75	+0.070%	$6.1M	$20.9M	50x	as long as short
RISEx TAO/USDC	+0.0840%	1h	319.50	−0.011%	$437K	$714K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	320.22	+0.216%	$1.1M	$7.4M	50x	as long as short
Injective TAO/USDC PERP	+0.3512%	1h	322.62	+0.967%	$23K	$2K	12x	as long as short