TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0677%/8h= +74.1% APRnext payment +$0.85 per $10,000 · paid last 24h −0.029%

Price spread now: Backpack against GMX+0.166%7-day average +0.059% · you sell dearer than you buy

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.271%−$27 on $10k

Price spread, last 4 days (all we have)−0.497%−$50 · spread now +0.166%, 7d avg +0.059%

Together, before fees−0.768%−$77 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Backpack is 0.107% dearer against GMX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.059%. Mind the row above: over the last 3 days funding on this pair cost −0.271%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	315.72	L +0.0156% / S +0.0113%	pay 0.0020% / 1h	5m 54s	$428K	—	100x
Short	Backpack TAO_USDC_PERP	316.24	0.0833	get 0.0104% / 1h	5m 54s	$314K	$927K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.166%Rate

Funding earned: $142.14
Price spread: +0.166% → +0.059%: $10.74
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $130.88
Costs to cover: 0.220%
Break-even: 0.6 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 58 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 Backpack live order book, 58 min ago	2.19 bp	8.9 bp −$9	335.6 bp −$3,356	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	−0.1916%	1h	325.17	+2.995%	$172K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.01	+0.093%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	315.72	+0.001%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.25	+0.169%	$40K	$687K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.31	+0.187%	$91.9M	$490.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.20	+0.154%	$26.0M	$119.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.00	+0.090%	$13.0M	$50.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.11	+0.125%	$104.6M	$144.2M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	316.07	+0.112%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.06	+0.109%	$35.3M	$56.1M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TAOUSDC	+0.0100%	4h	317.23	+0.478%	$36K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.15	+0.138%	$88K	$797K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	315.61	−0.033%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	315.95	+0.074%	$109K	$529K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.95	+0.073%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	315.96	+0.078%	$673	$778K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0127%	4h	315.70	−0.005%	$57K	$275K	10x	as long as short
Bullet TAO-USD	+0.0143%	1h	316.03	+0.099%	$12K	$18K	20x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0156% / S +0.0113%	1h	315.72	long leg	$428K	—	100x
Phemex TAOUSDT	+0.0177%	4h	315.92	+0.065%	$3.2M	$8.1M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0178%	4h	317.27	+0.493%	$528K	$965K	10x	as long as short
Paradex TAO-USD-PERP	+0.0240%	8h	316.52	+0.254%	$14K	$1K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0248%	1h	315.87	+0.049%	$5.6M	$20.8M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0249%	1h	315.89	+0.055%	$15K	$1.7M	25x	as long as short
Aster TAOUSDT	+0.0270%	4h	316.03	+0.099%	$1.2M	$10.1M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.76	+0.014%	$4.5M	$10.9M	100x	as long as short
ApeX Omni TAOUSDT	+0.0349%	1h	316.96	+0.394%	$47K	$252K	50x	as long as short
Bybit TAOUSDT	+0.0382%	4h	316.44	+0.230%	$69.4M	$146.1M	50x	as long as short
BingX TAO-USDT	+0.0386%	4h	316.15	+0.138%	—	$30.4M	—	as long as short
Pacifica TAO	+0.0448%	1h	316.31	+0.188%	$372K	$413K	10x	as long as short
Phoenix TAO	+0.0504%	1h	317.70	+0.629%	$332K	$707K	5x	as long as short
Arcus TAO-USD	+0.0509%	1h	316.58	+0.274%	$100K	$488K	5x	as long as short
Nado TAO-PERP	+0.0577%	1h	316.39	+0.213%	$825K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0600%	1h	316.14	+0.135%	$927K	$2.4M	25x	as long as short
01 Exchange TAOUSD	+0.0656%	1h	316.19	+0.150%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.08	+0.116%	$363	—	20x	as long as short
Lighter TAO	+0.0712%	1h	316.21	+0.156%	$1.6M	$6.4M	5x	as long as short
Variational Omni TAO	+0.0758%	4h	315.94	+0.072%	$5.9M	$9.8M	—	as long as short
Backpack TAO_USDC_PERPshort	+0.0833%	1h	316.24	+0.166%	$314K	$927K	10x
Hyperliquid TAO	+0.0959%	1h	316.25	+0.168%	$95.5M	$104.2M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	317.08	+0.432%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.1159%	1h	316.26	+0.174%	$436K	$661K	5x	as long as short
Injective TAO/USDC PERP	+0.4172%	1h	321.62	+1.870%	$23K	$2K	12x	as long as short