Funding arb · Price arb /

TAO

all TAO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.052%

Price spread now: GMX against Aster−0.019%7-day average −0.056% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.019%, 7d avg −0.056%

Together, before fees+0.067%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.036% dearer against Aster than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.056%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 4 days (−0.059% in total) that is about 2.2 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.059% in total (about -6.0% 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	Aster TAOUSDT	314.58	0.0319	pay 0.0159% / 4h	1h 05m	$1.2M	$11.4M	50x
Short	GMX TAO/USD [WBTC.b-USDC]	314.52	L +0.0359% / S −0.0107%	get 0.0013% / 1h	5m 39s	$369K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$44.49
Price spread: −0.019% → −0.056%: $3.64
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$60.85
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 1 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 Aster live order book, 1 min ago	0.48 bp	6.6 bp −$7	14.4 bp −$144	163.0 bp −$16.3K	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	314.20	−0.121%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.75	+0.054%	$54K	$634K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	−0.025%	$26.8M	$126.7M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.20	−0.121%	$16.0M	$48.7M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.46	−0.038%	$17.4M	$31.2M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.32	−0.083%	$35.6M	$55.3M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.02	+0.140%	$45K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.60	+0.006%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.50	−0.025%	$2K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.99	−0.188%	$112K	$556K	20x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0102%	8h	314.48	−0.032%	$2K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	314.50	−0.026%	$947K	$2.1M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	314.85	+0.085%	$173K	$998	3x	as long as short
edgeX TAOUSDC	+0.0143%	4h	314.89	+0.098%	$42K	$324K	10x	as long as short
MEXC TAO_USDT	+0.0152%	4h	314.55	−0.010%	$110.6M	$150.7M	300x	as long as short
Binance TAOUSDT	+0.0155%	4h	314.47	−0.035%	$93.2M	$510.4M	75x	as long as short
Phemex TAOUSDT	+0.0226%	4h	314.44	−0.045%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0232%	1h	314.57	−0.004%	$1.5M	$6.8M	5x	as long as short
Pacifica TAO	+0.0240%	1h	314.50	−0.027%	$372K	$455K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0256%	4h	314.85	+0.086%	$535K	$786K	10x	as long as short
BingX TAO-USDT	+0.0264%	4h	314.55	−0.010%	—	$37.9M	—	as long as short
Paradex TAO-USD-PERP	+0.0267%	8h	314.40	−0.058%	$14K	$876	10x	as long as short
Orderly PERP_TAO_USDC	+0.0267%	4h	314.67	+0.029%	$53K	$262K	10x	as long as short
Bybit TAOUSDT	+0.0297%	4h	314.55	−0.010%	$69.2M	$155.4M	50x	as long as short
Bullet TAO-USD	+0.0306%	1h	314.98	+0.126%	$12K	$16K	20x	as long as short
Aster TAOUSDTlong	+0.0319%	4h	314.58	long leg	$1.2M	$11.4M	50x
Nado TAO-PERP	+0.0345%	1h	314.71	+0.042%	$669K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0359% / S −0.0107%	1h	314.52	−0.019%	$369K	—	100x
BloFin TAO-USDT	+0.0392%	4h	314.44	−0.045%	$4.8M	$10.5M	100x	as long as short
dYdX TAO-USD	+0.0403%	1h	314.17	−0.132%	$265K	$230K	5x	as long as short
Hyperliquid TAO	+0.0532%	1h	314.61	+0.010%	$94.4M	$104.9M	5x	as long as short
Variational Omni TAO	+0.0539%	4h	314.94	+0.115%	$5.8M	$9.9M	—	as long as short
01 Exchange TAOUSD	+0.0608%	1h	315.16	+0.184%	$3K	$2K	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	314.86	+0.089%	$99K	$312K	5x	as long as short
Phoenix TAO	+0.0650%	1h	315.00	+0.134%	$317K	$710K	5x	as long as short
RISEx TAO/USDC	+0.0666%	1h	314.52	−0.019%	$439K	$655K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	315.38	+0.254%	$1.1M	$7.6M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	314.71	+0.041%	$362	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0718%	1h	314.73	+0.049%	$30K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0758%	1h	314.70	+0.038%	$296K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.0916%	1h	314.85	+0.084%	$167K	$662	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0936%	1h	314.83	+0.081%	$6.3M	$19.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	319.29	+1.497%	$23K	$2K	12x	as long as short