TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1228%/8h= −134.5% APRnext payment −$1.54 per $10,000 · paid last 24h −0.095%

Price spread now: GMX against RISEx−0.250%7-day average −0.023% · you buy dearer than you sell

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

Long on RISEx Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.274%−$27 on $10k

Price spread, last 3 days (all we have)+0.286%+$29 · spread now −0.250%, 7d avg −0.023%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and GMX is 0.228% cheaper against RISEx than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.274% in total (about -31.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx TAO/USDC	308.89	0.1132	pay 0.0142% / 1h	56m 28s	$410K	$602K	5x
Short	GMX TAO/USD [WBTC.b-USDC]	308.11	L +0.0171% / S +0.0096%	pay 0.0012% / 1h	56m 28s	$419K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against RISEx. 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 RISExbpFee GMXbpOrdersPrice spread, now −0.250%Rate

Funding earned: −$257.91
Price spread: −0.250% → −0.023%: −$22.78
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$298.68
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 12 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 RISEx live order book, 12 min ago	1.26 bp	4.3 bp −$4	21.5 bp −$215	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
dYdX TAO-USD	0.0000%	1h	308.50	−0.125%	$123K	$89K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0002%	1h	308.15	−0.237%	$12K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0029%	1h	309.80	+0.296%	$16K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	308.39	−0.161%	$44K	$612K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	308.30	−0.191%	$88.6M	$456.3M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	308.50	−0.125%	$25.1M	$107.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	308.10	−0.255%	$12.5M	$49.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	308.50	−0.125%	$98.8M	$135.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	308.42	−0.151%	$18.0M	$30.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	308.36	−0.171%	$34.3M	$52.2M	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	312.75	+1.252%	$35K	$297K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	312.72	+1.241%	$521K	$962K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	313.12	+1.370%	$48K	$267K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	308.66	−0.073%	$91K	$672K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	309.80	+0.296%	$56K	$322K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	309.63	+0.241%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	309.62	+0.237%	$118K	$446K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	310.10	+0.392%	$170K	$998	3x	as long as short
Bullet TAO-USD	+0.0114%	1h	308.38	−0.164%	$11K	$17K	20x	as long as short
Katana Perps TAO-USD	+0.0117%	8h	308.75	−0.044%	$632	$662K	5x	as long as short
Aster TAOUSDT	+0.0151%	4h	308.37	−0.169%	$1.2M	$9.0M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0171%	1h	309.34	+0.148%	$5.5M	$20.3M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]short	L +0.0171% / S +0.0096%	1h	308.11	−0.250%	$419K	—	100x
Paradex TAO-USD-PERP	+0.0230%	8h	308.70	−0.060%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0285%	1h	308.45	−0.142%	$365K	$373K	10x	as long as short
Arcus TAO-USD	+0.0337%	1h	309.08	+0.063%	$82K	$550K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	309.68	+0.257%	$4.4M	$10.5M	100x	as long as short
Injective TAO/USDC PERP	+0.0470%	1h	316.84	+2.575%	$23K	$2K	12x	as long as short
Phoenix TAO	+0.0525%	1h	313.80	+1.591%	$328K	$620K	5x	as long as short
Bulk TAO-USD	+0.0529%	1h	316.43	+2.442%	$168K	$40K	10x	as long as short
01 Exchange TAOUSD	+0.0560%	1h	309.07	+0.059%	$3K	$4K	5x	as long as short
Variational Omni TAO	+0.0606%	4h	314.06	+1.675%	$5.4M	$8.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	308.54	−0.111%	$355	—	20x	as long as short
BingX TAO-USDT	+0.0704%	4h	308.53	−0.116%	—	$30.8M	—	as long as short
Backpack TAO_USDC_PERP	+0.0721%	1h	309.08	+0.063%	$312K	$818K	10x	as long as short
Bybit TAOUSDT	+0.0750%	4h	308.68	−0.067%	$62.9M	$135.1M	50x	as long as short
Nado TAO-PERP	+0.0895%	1h	308.54	−0.114%	$760K	$2.1M	10x	as long as short
Hyperliquid TAO	+0.1014%	1h	308.80	−0.028%	$98.2M	$92.5M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1024%	1h	312.74	+1.247%	$1.5M	$6.4M	50x	as long as short
Phemex TAOUSDT	+0.1034%	4h	309.42	+0.173%	$3.3M	$7.8M	50x	as long as short
Extended TAO-USD	+0.1048%	1h	308.44	−0.145%	$893K	$2.4M	25x	as long as short
RISEx TAO/USDClong	+0.1132%	1h	308.89	long leg	$410K	$602K	5x
Lighter TAO	+0.1432%	1h	309.43	+0.177%	$1.6M	$6.0M	5x	as long as short