Funding you earn now, next payment 03:00 UTC+0.0857%/8h= +93.8% APRnext payment +$1.07 per $10,000 · paid last 24h +0.159%
Price spread now: Coinbase International against GMX+0.359%7-day average +0.191% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.124%+$12 on $10k
+Price spread, last 4 days (all we have)−0.408%−$41 · spread now +0.359%, 7d avg +0.191%
=Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Coinbase International is 0.168% dearer against GMX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.191%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.124% in total (about 13.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.07 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 | GMX TAO/USD [WBTC.b-USDC] | 316.99 | L +0.0151% / S +0.0122% | pay 0.0019% / 1h | 39m 33s | $422K | — | 100x |
| Short | Coinbase International TAO-PERP-INTX | 318.13 | 0.1008 | get 0.0126% / 1h | 39m 33s | $1.5M | $6.7M | 50x |
GMX TAO/USD [WBTC.b-USDC]
Coinbase International TAO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $179.97
- Price spread: +0.359% → +0.191%
- $16.83
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $174.8
- Costs to cover
- 0.220%
- Break-even
- 0.2 days
Slippage unknown: GMX: no order-book sample; Coinbase International: 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 Coinbase International live order book, 4 min ago | 9.32 bp | 14.3 bp −$14 | 18.6 bp −$186 | 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 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 | −0.0482% | 1h | 315.13 | −0.587% | $167K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 315.72 | −0.401% | $126K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 316.86 | −0.042% | $21K | — | 150x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0056% | 1h | 316.76 | −0.072% | $5.6M | $20.6M | 50x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.97 | −0.322% | $42K | $686K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 315.88 | −0.350% | $91.0M | $490.7M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.60 | −0.439% | $26.0M | $119.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 315.80 | −0.376% | $12.9M | $49.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 315.99 | −0.316% | $106.1M | $142.7M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 315.87 | −0.354% | $17.5M | $31.6M | 75x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Kraken Futures PF_TAOUSD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTMShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget TAOUSDT | +0.0100% | 4h | 315.72 | −0.401% | $35.3M | $55.9M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.41 | −0.498% | $35K | $302K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 314.94 | −0.647% | $46K | $252K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 317.37 | +0.119% | $90K | $790K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 317.30 | +0.097% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 316.92 | −0.023% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 317.05 | +0.018% | $110K | $527K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 316.66 | −0.105% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0101% | 8h | 315.58 | −0.445% | $1K | $787K | 5x | as long as short |
| GRVT TAO_USDT_Perp | +0.0104% | 4h | 316.85 | −0.044% | $528K | $944K | 10x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 317.07 | +0.026% | $174K | $998 | 3x | as long as short |
| Bybit TAOUSDT | +0.0116% | 4h | 316.02 | −0.307% | $68.7M | $146.8M | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0126% | 4h | 316.96 | −0.010% | $57K | $275K | 10x | as long as short |
| BingX TAO-USDT | +0.0146% | 4h | 315.86 | −0.357% | — | $30.1M | — | as long as short |
| GMX TAO/USD [WBTC.b-USDC]long | L +0.0151% / S +0.0122% | 1h | 316.99 | long leg | $422K | — | 100x | |
| Nado TAO-PERP | +0.0162% | 1h | 317.42 | +0.136% | $809K | $2.2M | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0186% | 8h | 315.90 | −0.345% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0224% | 4h | 316.51 | −0.152% | $1.2M | $10.2M | 50x | as long as short |
| 01 Exchange TAOUSD | +0.0248% | 1h | 316.01 | −0.310% | $3K | $4K | 5x | as long as short |
| Hyperliquid TAO | +0.0279% | 1h | 316.47 | −0.165% | $93.9M | $105.5M | 5x | as long as short |
| Extended TAO-USD | +0.0296% | 1h | 315.82 | −0.371% | $927K | $2.4M | 25x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 316.00 | −0.313% | $4.5M | $10.9M | 100x | as long as short |
| Arcus TAO-USD | +0.0345% | 1h | 316.21 | −0.247% | $100K | $488K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0354% | 1h | 316.87 | −0.038% | $317K | $913K | 10x | as long as short |
| Pacifica TAO | +0.0365% | 1h | 316.12 | −0.274% | $361K | $411K | 10x | as long as short |
| Lighter TAO | +0.0400% | 1h | 316.38 | −0.192% | $1.5M | $6.5M | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0485% | 1h | 317.07 | +0.025% | $11K | $1.6M | 25x | as long as short |
| Phoenix TAO | +0.0581% | 1h | 316.10 | −0.281% | $315K | $697K | 5x | as long as short |
| Variational Omni TAO | +0.0615% | 4h | 315.95 | −0.330% | $5.8M | $9.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 317.32 | +0.104% | $365 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0991% | 1h | 315.96 | −0.326% | $438K | $659K | 5x | as long as short |
| Coinbase International TAO-PERP-INTXshort | +0.1008% | 1h | 318.13 | +0.359% | $1.5M | $6.7M | 50x | |
| Injective TAO/USDC PERP | +0.4222% | 1h | 319.61 | +0.826% | $23K | $2K | 12x | as long as short |
Bitget TAOUSDT
edgeX TAOUSDC
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
GRVT TAO_USDT_Perp
Aevo TAO-PERP
Bybit TAOUSDT
Orderly PERP_TAO_USDC
BingX TAO-USDT
Nado TAO-PERP
Paradex TAO-USD-PERP
Aster TAOUSDT
01 Exchange TAOUSD
Hyperliquid TAO
Extended TAO-USD
BloFin TAO-USDT
Arcus TAO-USD
Backpack TAO_USDC_PERP
Pacifica TAO
Lighter TAO
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
Variational Omni TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Injective TAO/USDC PERP