Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h −0.060%

Price spread now: Paradex against GMX+0.065%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.065% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	318.48	L +0.0109% / S +0.0158%	pay 0.0014% / 1h	47m 32s	$425K	—	100x
Short	Paradex TAO-USD-PERP	318.68	0.0250	get 0.0250% / 8h	47m 32s	$14K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.065%Rate

Funding earned: $29.63
Price spread: +0.065% → 0.000%: $6.49
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $20.12
Costs to cover: 0.160%
Break-even: 2.2 days

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0005%	1h	318.52	+0.014%	$22K	—	150x	as long as short
dYdX TAO-USD	+0.0075%	1h	318.25	−0.072%	$127K	$85K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.68	+0.063%	$44K	$707K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	318.50	+0.007%	$26.5M	$130.5M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.40	−0.025%	$14.5M	$51.0M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.56	+0.026%	$17.9M	$32.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.26	−0.069%	$35.8M	$57.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.19	+0.224%	$85K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.66	+0.057%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.36	−0.037%	$116K	$604K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps TAO-USD	+0.0107%	8h	318.63	+0.048%	$723	$1.1M	5x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0109% / S +0.0158%	1h	318.48	long leg	$425K	—	100x
Aevo TAO-PERP	+0.0128%	1h	319.06	+0.183%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0143%	4h	318.88	+0.126%	$53K	$293K	10x	as long as short
edgeX TAOUSDC	+0.0168%	4h	318.79	+0.098%	$42K	$319K	10x	as long as short
MEXC TAO_USDT	+0.0176%	4h	318.75	+0.085%	$100.1M	$151.0M	300x	as long as short
Binance TAOUSDT	+0.0181%	4h	318.68	+0.063%	$92.5M	$529.3M	75x	as long as short
Paradex TAO-USD-PERPshort	+0.0250%	8h	318.68	+0.065%	$14K	$1K	10x
BingX TAO-USDT	+0.0255%	4h	318.66	+0.057%	—	$37.0M	—	as long as short
Bybit TAOUSDT	+0.0280%	4h	318.69	+0.067%	$69.8M	$156.2M	50x	as long as short
Pacifica TAO	+0.0313%	1h	318.73	+0.079%	$362K	$429K	10x	as long as short
Bulk TAO-USD	+0.0314%	1h	317.73	−0.235%	$169K	$333	10x	as long as short
GRVT TAO_USDT_Perp	+0.0324%	4h	318.48	+0.001%	$543K	$926K	10x	as long as short
Aster TAOUSDT	+0.0339%	4h	318.72	+0.076%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0352%	1h	318.55	+0.023%	$908K	$2.4M	25x	as long as short
Bullet TAO-USD	+0.0360%	1h	318.95	+0.148%	$12K	$17K	20x	as long as short
ApeX Omni TAOUSDT	+0.0374%	1h	319.64	+0.365%	$46K	$260K	50x	as long as short
BloFin TAO-USDT	+0.0418%	4h	319.81	+0.418%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0439%	1h	318.95	+0.149%	$790K	$2.0M	10x	as long as short
Lighter TAO	+0.0472%	1h	318.81	+0.104%	$1.6M	$6.9M	5x	as long as short
Arcus TAO-USD	+0.0473%	1h	318.97	+0.154%	$103K	$389K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0502%	1h	318.87	+0.123%	$15K	$2.0M	25x	as long as short
Variational Omni TAO	+0.0505%	4h	318.69	+0.067%	$5.6M	$10.3M	—	as long as short
Phemex TAOUSDT	+0.0541%	4h	318.92	+0.139%	$3.2M	$8.2M	50x	as long as short
Phoenix TAO	+0.0629%	1h	318.20	−0.087%	$317K	$703K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.00	+0.164%	$367	—	20x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	319.10	+0.195%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0785%	1h	318.87	+0.123%	$297K	$905K	10x	as long as short
Hyperliquid TAO	+0.0788%	1h	318.85	+0.117%	$94.3M	$110.1M	5x	as long as short
Kraken Futures PF_TAOUSD	+0.0831%	1h	319.03	+0.172%	$6.0M	$21.6M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	318.61	+0.041%	$447K	$682K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.22	+0.233%	$1.5M	$6.9M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	320.67	+0.688%	$23K	$2K	12x	as long as short