TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0367%/8h= −40.1% APRnext payment −$0.46 per $10,000 · paid last 24h −0.012%

Price spread now: GMX against Arcus−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

Long on Arcus Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.228%+$23 · spread now −0.149%, 7d avg −0.088%

Together, before fees+0.307%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and GMX is 0.061% cheaper against Arcus 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. Mind the row above: over the last 3 days funding on this pair paid +0.079%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.079% in total (about 8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.46 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	Arcus TAO-USD	312.50	0.0231	pay 0.0029% / 1h	18m 29s	$101K	$394K	5x
Short	GMX TAO/USD [WBTC.b-USDC]	312.03	L +0.0137% / S +0.0135%	pay 0.0017% / 1h	18m 29s	$414K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Arcus. 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 ArcusbpFee GMXbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$76.98
Price spread: −0.149% → −0.088%: −$6.09
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee GMX: 6 bp × 2 orders: −$12
Net: −$99.57
Costs to cover: 0.165%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 35 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 Arcus live order book, 35 min ago	5.09 bp	14.4 bp −$14	26.6 bp −$266	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
Kraken Futures PF_TAOUSD	−0.0347%	1h	312.56	+0.018%	$5.5M	$20.7M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.30	−0.064%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0012%	1h	312.14	−0.116%	$124K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	312.21	−0.093%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	311.95	−0.176%	$639	$842K	5x	as long as short
Pacifica TAO	+0.0100%	1h	312.39	−0.036%	$356K	$416K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.16	−0.109%	$89.4M	$501.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.30	−0.064%	$26.0M	$120.8M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.10	−0.128%	$13.3M	$50.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	312.31	−0.061%	$102.5M	$145.3M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	312.32	−0.058%	$17.8M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	312.03	−0.150%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.23	−0.086%	—	$33.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.63	−0.279%	$41K	$314K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.55	−0.305%	$529K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	311.69	−0.259%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	312.32	−0.058%	$79K	$901K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	312.59	+0.029%	$11K	$17K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.46	−0.013%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.74	−0.243%	$110K	$542K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.40	−0.032%	$3.1M	$8.0M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.45	−0.016%	$172K	$998	3x	as long as short
Aster TAOUSDT	+0.0107%	4h	312.34	−0.051%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0115%	4h	312.28	−0.070%	$52K	$290K	10x	as long as short
Bybit TAOUSDT	+0.0131%	4h	312.30	−0.064%	$67.3M	$150.5M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0137% / S +0.0135%	1h	312.03	−0.149%	$414K	—	100x
Paradex TAO-USD-PERP	+0.0153%	8h	312.21	−0.093%	$14K	$1K	10x	as long as short
Arcus TAO-USDlong	+0.0231%	1h	312.50	long leg	$101K	$394K	5x
Extended TAO-USD	+0.0304%	1h	312.14	−0.115%	$909K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0308%	4h	311.97	−0.169%	$5.5M	$10.1M	—	as long as short
Nado TAO-PERP	+0.0338%	1h	312.25	−0.081%	$788K	$2.2M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	312.69	+0.061%	$4.5M	$10.8M	100x	as long as short
Phoenix TAO	+0.0457%	1h	312.30	−0.064%	$311K	$711K	5x	as long as short
Hyperliquid TAO	+0.0465%	1h	312.49	−0.003%	$91.8M	$107.8M	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	312.48	−0.006%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0498%	1h	312.65	+0.048%	$311K	$885K	10x	as long as short
Lighter TAO	+0.0600%	1h	312.60	+0.032%	$1.5M	$6.5M	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0624%	1h	312.47	−0.009%	$14K	$1.8M	25x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	312.43	−0.024%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	312.26	−0.076%	$443K	$647K	5x	as long as short
Bulk TAO-USD	+0.0817%	1h	310.92	−0.505%	$165K	$333	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.08	−0.134%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+0.877%	$23K	$2K	12x	as long as short