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Funding arb · Price arb /

TAO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0267%/8h= +29.2% APRpaid last 24h −0.071%
Price spread now: Bybit against GMX−0.012%7-day average +0.046% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.358%−$36 on $10k
Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.012%, 7d avg +0.046%
Together, before fees−0.412%−$41 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.058% cheaper against GMX than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.046%). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 3 days funding on this pair cost −0.358%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX TAO/USD [WBTC.b-USDC]321.55L +0.0122% / S +0.0155%pay 0.0015% / 1h50m 11s$435K—100x
ShortBybit TAOUSDT321.510.0389get 0.0194% / 4h1h 50m$70.2M$155.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$55.97
Price spread: −0.012% → +0.046%
−$5.8
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$27.17
Costs to cover
0.230%
Break-even
3.6 days
Slippage unknown: GMX: no order-book sample; Bybit: 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
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample—————
Sell Bybit live order book, 4 min ago0.16 bp9.4 bp −$917.1 bp −$17134.2 bp −$3,416doesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.2101%1h320.87−0.211%$170K$33310xas long as short
dYdX TAO-USD0.0000%1h321.85+0.094%$128K$85K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h321.62+0.022%$21K—150xas long as short
Popdex TAOUSDT+0.0096%1h322.16+0.190%$40K$695K20xas long as short
OKX TAO-USDT-SWAP+0.0100%8h321.20−0.108%$26.7M$129.4M50xas long as short
Gate TAO_USDT+0.0100%4h321.70+0.047%$14.2M$51.3M50xas long as short
KuCoin TAOUSDTM+0.0100%4h321.84+0.091%$17.6M$31.9M75xas long as short
Bitget TAOUSDT+0.0100%4h321.70+0.047%$36.2M$58.0M50xas long as short
ApeX Omni TAOUSDT+0.0100%1h320.78−0.239%$45K$258K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h321.90+0.110%$77K$1.1M5xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SunX TAO-USDT+0.0100%4h321.99+0.138%$2K$2.0M20xas long as short
HTX TAO-USDT+0.0100%4h321.46−0.027%$118K$585K20xas long as short
Phemex TAOUSDT+0.0100%4h321.73+0.057%$3.3M$8.1M50xas long as short
Katana Perps TAO-USD+0.0109%8h321.99+0.138%$731$985K5xas long as short
Aevo TAO-PERP+0.0120%1h322.02+0.145%$177K$9983xas long as short
Orderly PERP_TAO_USDC+0.0121%4h322.07+0.162%$53K$293K10xas long as short
GMX TAO/USD [WBTC.b-USDC]longL +0.0122% / S +0.0155%1h321.55long leg$435K—100x
MEXC TAO_USDT+0.0146%4h322.07+0.162%$105.7M$149.3M300xas long as short
edgeX TAOUSDC+0.0148%4h320.94−0.189%$42K$316K10xas long as short
Binance TAOUSDT+0.0148%4h321.63+0.026%$93.2M$525.2M75xas long as short
Paradex TAO-USD-PERP+0.0267%8h322.02+0.148%$15K$1K10xas long as short
Aster TAOUSDT+0.0307%4h321.52−0.009%$1.3M$10.9M50xas long as short
BingX TAO-USDT+0.0366%4h321.97+0.131%—$34.3M—as long as short
Bullet TAO-USD+0.0377%1h322.06+0.159%$12K$17K20xas long as short
BloFin TAO-USDT+0.0388%4h321.61+0.019%$4.7M$11.1M100xas long as short
Bybit TAOUSDTshort+0.0389%4h321.51−0.012%$70.2M$155.6M50x
GRVT TAO_USDT_Perp+0.0420%4h320.79−0.235%$546K$948K10xas long as short
Extended TAO-USD+0.0488%1h321.86+0.098%$914K$2.4M25xas long as short
Pacifica TAO+0.0525%1h322.16+0.190%$367K$422K10xas long as short
Variational Omni TAO+0.0536%4h321.98+0.133%$5.6M$10.2M—as long as short
Phoenix TAO+0.0567%1h321.70+0.047%$320K$709K5xas long as short
Nado TAO-PERP+0.0617%1h321.21−0.104%$803K$2.2M10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0633%1h321.92+0.115%$14K$1.9M25xas long as short
Backpack TAO_USDC_PERP+0.0634%1h322.02+0.147%$320K$899K10xas long as short
Arcus TAO-USD+0.0641%1h322.22+0.209%$104K$394K5xas long as short
01 Exchange TAOUSD+0.0656%1h322.49+0.293%$3K$4K5xas long as short
Hyperliquid TAO+0.0671%1h322.15+0.187%$95.3M$109.9M5xas long as short
Reya TAORUSDPERP+0.0698%1h322.01+0.143%$370—20xas long as short
Lighter TAO+0.0880%1h322.27+0.225%$1.5M$6.6M5xas long as short
Coinbase International TAO-PERP-INTX+0.0944%1h322.95+0.436%$1.5M$6.9M50xas long as short
RISEx TAO/USDC+0.1077%1h322.09+0.169%$464K$665K5xas long as short
Kraken Futures PF_TAOUSD+0.1146%1h322.08+0.165%$6.1M$21.7M50xas long as short
Injective TAO/USDC PERP+0.4723%1h328.25+2.084%$24K$2K12xas long as short