TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0290%/8h= −31.8% APRnext payment −$0.36 per $10,000 · paid last 24h −0.099%

Price spread now: Arcus against GMX+0.435%7-day average +0.078% · you sell dearer than you buy

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

Long on GMX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.343%−$34 on $10k

Price spread, last 3 days (all we have)−0.491%−$49 · spread now +0.435%, 7d avg +0.078%

Together, before fees−0.834%−$83 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.358% dearer against GMX than usual: you sell high and buy low (spread +0.435% now, against its 7-day average of +0.078%): +$36 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	312.74	L +0.0476% / S −0.0175%	pay 0.0060% / 1h	42m 00s	$450K	—	100x
Short	Arcus TAO-USD	314.10	0.0186	get 0.0023% / 1h	42m 00s	$83K	$626K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against GMX. 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 GMXbpFee ArcusbpOrdersPrice spread, now +0.435%Rate

Funding earned: −$60.9
Price spread: +0.435% → +0.078%: $35.75
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$41.64
Costs to cover: 0.165%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Arcus: live order book, 37 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Arcus live order book, 37 min ago	3.43 bp	13.1 bp −$13	28.3 bp −$283	doesn't fit	doesn't fit

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	−0.4722%	1h	314.01	+0.407%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	313.81	+0.342%	$125K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	312.75	+0.002%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.39	+0.528%	$23K	$260	12x	as long as short
Popdex TAOUSDT	+0.0096%	1h	313.64	+0.288%	$41K	$551K	20x	as long as short
Pacifica TAO	+0.0100%	1h	313.93	+0.381%	$372K	$372K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	312.35	−0.124%	$88.3M	$424.9M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	312.42	−0.102%	$61.2M	$123.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	312.30	−0.140%	$25.0M	$100.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	311.90	−0.268%	$12.7M	$49.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	312.05	−0.220%	$119.9M	$127.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	312.24	−0.159%	$19.0M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	311.81	−0.297%	$34.8M	$46.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	312.32	−0.134%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.83	+0.031%	$40K	$281K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.31	+0.184%	$528K	$948K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	312.73	−0.003%	$60K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	312.61	−0.041%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.02	+0.410%	$128K	$395K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	312.63	−0.035%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	312.87	+0.040%	$172K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	313.47	+0.234%	$2K	$541K	5x	as long as short
Bullet TAO-USD	+0.0133%	1h	313.31	+0.183%	$11K	$17K	20x	as long as short
Polymarket Perps TAO-USD	+0.0152%	1h	313.77	+0.330%	$77K	$521K	5x	as long as short
Arcus TAO-USDshort	+0.0186%	1h	314.10	+0.435%	$83K	$626K	5x
Variational Omni TAO	+0.0188%	4h	313.49	+0.239%	$3.9M	$7.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0190%	8h	314.03	+0.412%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0210%	4h	312.32	−0.135%	$1.1M	$7.9M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0216%	1h	312.82	+0.026%	$19K	$1.4M	25x	as long as short
ApeX Omni TAOUSDT	+0.0226%	1h	312.79	+0.016%	$47K	$270K	50x	as long as short
BloFin TAO-USDT	+0.0351%	4h	312.54	−0.063%	$4.3M	$10.2M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0449%	1h	312.75	+0.004%	$5.8M	$19.9M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0476% / S −0.0175%	1h	312.74	long leg	$450K	—	100x
Nado TAO-PERP	+0.0513%	1h	313.62	+0.280%	$833K	$2.0M	10x	as long as short
Phoenix TAO	+0.0537%	1h	312.60	−0.044%	$327K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0570%	1h	312.50	−0.076%	$300K	$799K	10x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	313.37	+0.203%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0776%	1h	313.89	+0.368%	$3K	$4K	5x	as long as short
Extended TAO-USD	+0.0872%	1h	312.05	−0.220%	$863K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	314.64	+0.608%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	313.84	+0.352%	$432K	$536K	5x	as long as short
Lighter TAO	+0.1408%	1h	313.25	+0.163%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAO	+0.1981%	1h	312.80	+0.020%	$97.4M	$83.3M	5x	as long as short