TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0347%/8h= +38.0% APRnext payment +$0.43 per $10,000 · paid last 24h −0.021%

Price spread now: Deribit against GMX+0.093%186s7-day average +0.044% · you sell dearer than you buy

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.342%−$34 on $10k

Price spread, last 4 days (all we have)−0.155%−$16 · spread now +0.093%, 7d avg +0.044%

Together, before fees−0.498%−$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.048% dearer against GMX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.044%. Mind the row above: over the last 4 days funding on this pair cost −0.342%, so the current rate has only just turned in your favour. The two prices were read 186 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	314.52	L +0.0359% / S −0.0107%	pay 0.0045% / 1h	2m 56s	$369K	—	100x
Short	Deribit TAO_USDC-PERPETUAL	314.81	0.0706	get 0.0088% / 1h	2m 56s	$30K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.093%Rate

Funding earned: $72.97
Price spread: +0.093% → +0.044%: $4.84
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $58.81
Costs to cover: 0.190%
Break-even: 1.4 days

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 4 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 Deribit live order book, 4 min ago	6.20 bp	10.2 bp −$10	16.8 bp −$168	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 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	314.40	−0.039%	$19K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.91	+0.124%	$54K	$634K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.70	+0.058%	$26.9M	$126.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.50	−0.006%	$16.1M	$48.8M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.58	+0.019%	$17.4M	$31.1M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.47	−0.016%	$35.6M	$55.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.69	+0.054%	$45K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.81	+0.092%	$69K	$1.1M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.58	+0.019%	$1K	$1.7M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.29	−0.073%	$112K	$547K	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	314.93	+0.131%	$2K	$1.3M	5x	as long as short
Extended TAO-USD	+0.0104%	1h	314.67	+0.048%	$947K	$2.0M	25x	as long as short
Aevo TAO-PERP	+0.0120%	1h	314.96	+0.139%	$173K	$998	3x	as long as short
edgeX TAOUSDC	+0.0153%	4h	314.61	+0.029%	$42K	$325K	10x	as long as short
MEXC TAO_USDT	+0.0158%	4h	314.76	+0.077%	$110.9M	$150.8M	300x	as long as short
Binance TAOUSDT	+0.0158%	4h	314.80	+0.089%	$93.4M	$509.0M	75x	as long as short
Pacifica TAO	+0.0240%	1h	314.66	+0.045%	$372K	$455K	10x	as long as short
Phemex TAOUSDT	+0.0242%	4h	314.81	+0.092%	$3.2M	$8.2M	50x	as long as short
Lighter TAO	+0.0248%	1h	315.01	+0.156%	$1.5M	$6.8M	5x	as long as short
GRVT TAO_USDT_Perp	+0.0266%	4h	314.86	+0.109%	$535K	$786K	10x	as long as short
Orderly PERP_TAO_USDC	+0.0272%	4h	314.83	+0.099%	$53K	$262K	10x	as long as short
Paradex TAO-USD-PERP	+0.0278%	8h	314.60	+0.025%	$14K	$769	10x	as long as short
BingX TAO-USDT	+0.0282%	4h	314.75	+0.073%	—	$37.7M	—	as long as short
Bullet TAO-USD	+0.0315%	1h	314.93	+0.131%	$12K	$16K	20x	as long as short
Aster TAOUSDT	+0.0323%	4h	314.83	+0.099%	$1.2M	$11.3M	50x	as long as short
Bybit TAOUSDT	+0.0326%	4h	314.85	+0.105%	$69.3M	$155.0M	50x	as long as short
Nado TAO-PERP	+0.0350%	1h	314.89	+0.119%	$670K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0359% / S −0.0107%	1h	314.52	long leg	$369K	—	100x
BloFin TAO-USDT	+0.0398%	4h	314.93	+0.131%	$4.9M	$10.5M	100x	as long as short
dYdX TAO-USD	+0.0403%	1h	314.17	−0.113%	$265K	$230K	5x	as long as short
Variational Omni TAO	+0.0539%	4h	314.94	+0.134%	$5.8M	$9.9M	—	as long as short
Hyperliquid TAO	+0.0544%	1h	314.89	+0.118%	$94.4M	$104.9M	5x	as long as short
Arcus TAO-USD	+0.0610%	1h	314.92	+0.127%	$99K	$287K	5x	as long as short
01 Exchange TAOUSD	+0.0616%	1h	315.45	+0.296%	$3K	$2K	5x	as long as short
Phoenix TAO	+0.0650%	1h	315.20	+0.216%	$317K	$710K	5x	as long as short
RISEx TAO/USDC	+0.0666%	1h	314.75	+0.075%	$439K	$655K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0688%	1h	315.16	+0.204%	$1.1M	$7.5M	50x	as long as short
Reya TAORUSDPERP	+0.0699%	1h	314.86	+0.108%	$362	—	20x	as long as short
Deribit TAO_USDC-PERPETUALshort	+0.0706%	1h	314.81	+0.093%	$30K	$1.9M	25x
Backpack TAO_USDC_PERP	+0.0768%	1h	314.88	+0.115%	$296K	$1.1M	10x	as long as short
Bulk TAO-USD	+0.0916%	1h	314.85	+0.104%	$167K	$662	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0936%	1h	314.94	+0.133%	$6.3M	$19.5M	50x	as long as short
Injective TAO/USDC PERP	+0.4405%	1h	318.16	+1.158%	$23K	$2K	12x	as long as short