Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h +0.018%

Price spread now: GMX against HTX−0.244%7-day average +0.099% · you buy dearer than you sell

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.136%+$14 on $10k

Price spread, last 3 days (all we have)+0.465%+$46 · spread now −0.244%, 7d avg +0.099%

Together, before fees+0.601%+$60 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and GMX is 0.344% cheaper against HTX than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.099%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.136%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TAO-USDT	320.77	0.0100	pay 0.0050% / 4h	3h 48m	$128K	$422K	20x
Short	GMX TAO/USD [WBTC.b-USDC]	319.99	L +0.0174% / S +0.0085%	pay 0.0011% / 1h	48m 54s	$462K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now −0.244%Rate

Funding earned: −$38.93
Price spread: −0.244% → +0.099%: −$34.39
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$97.32
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 24 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 HTX live order book, 24 min ago	18.94 bp	105.2 bp −$105	doesn't fit	doesn't fit	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 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	−0.1799%	1h	311.96	−2.747%	$167K	$44K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.99	−0.243%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	320.40	−0.114%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.58	−0.371%	$42K	$580K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	320.33	−0.139%	$92.1M	$441.1M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.10	−0.209%	$26.1M	$107.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	320.40	−0.115%	$13.0M	$49.7M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	320.56	−0.065%	$106.6M	$132.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.48	−0.090%	$19.0M	$28.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	320.42	−0.109%	$35.8M	$49.0M	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	318.79	−0.616%	$36K	$288K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	319.75	−0.318%	$48K	$269K	50x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	321.00	+0.072%	$58K	$316K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	320.98	+0.065%	$1K	$1.9M	20x	as long as short
HTX TAO-USDTlong	+0.0100%	4h	320.77	long leg	$128K	$422K	20x
Phemex TAOUSDT	+0.0100%	4h	320.40	−0.115%	$3.5M	$7.8M	50x	as long as short
Katana Perps TAO-USD	+0.0104%	8h	319.65	−0.349%	$657	$596K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	321.68	+0.282%	$177K	$998	3x	as long as short
GRVT TAO_USDT_Perp	+0.0168%	4h	320.12	−0.203%	$532K	$945K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0174% / S +0.0085%	1h	319.99	−0.244%	$462K	—	100x
Pacifica TAO	+0.0185%	1h	320.12	−0.203%	$379K	$373K	10x	as long as short
Arcus TAO-USD	+0.0201%	1h	319.94	−0.259%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0229%	4h	320.42	−0.109%	$1.1M	$8.1M	50x	as long as short
Paradex TAO-USD-PERP	+0.0231%	8h	319.97	−0.249%	$15K	$1K	10x	as long as short
Bullet TAO-USD	+0.0279%	1h	320.11	−0.206%	$12K	$17K	20x	as long as short
Variational Omni TAO	+0.0305%	4h	320.13	−0.201%	$5.5M	$8.6M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	321.60	+0.259%	$4.5M	$10.9M	100x	as long as short
Polymarket Perps TAO-USD	+0.0355%	1h	319.80	−0.302%	$100K	$634K	5x	as long as short
BingX TAO-USDT	+0.0378%	4h	320.35	−0.131%	—	$30.8M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0446%	1h	321.27	+0.157%	$21K	$1.5M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0477%	1h	321.18	+0.126%	$5.8M	$20.3M	50x	as long as short
Phoenix TAO	+0.0525%	1h	319.50	−0.396%	$334K	$624K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	319.58	−0.371%	$23K	$501	12x	as long as short
Bybit TAOUSDT	+0.0654%	4h	320.55	−0.069%	$66.1M	$130.5M	50x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	319.62	−0.358%	$368	—	20x	as long as short
Nado TAO-PERP	+0.0751%	1h	319.52	−0.388%	$890K	$2.0M	10x	as long as short
01 Exchange TAOUSD	+0.0824%	1h	320.03	−0.231%	$3K	$4K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	322.20	+0.446%	$1.5M	$6.1M	50x	as long as short
Backpack TAO_USDC_PERP	+0.1004%	1h	321.00	+0.072%	$322K	$820K	10x	as long as short
Extended TAO-USD	+0.1064%	1h	320.54	−0.071%	$934K	$2.2M	25x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.65	−0.349%	$423K	$590K	5x	as long as short
Lighter TAO	+0.1728%	1h	321.47	+0.217%	$1.7M	$5.9M	5x	as long as short
Hyperliquid TAO	+0.2905%	1h	321.64	+0.272%	$105.2M	$88.7M	5x	as long as short