TAO

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.051%

7d average+0.024%if it closes, per $10,000$5funding while held, a day−$8.99

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	288.42	L +0.0468% / S −0.0189%	pay 0.0058% / 1h	42m 41s	$428K	—	100x
Short	Deribit TAO_USDC-PERPETUAL	288.27	0.0168	get 0.0021% / 1h	42m 41s	$34K	$898K	25x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee GMXbpFee DeribitbpOrdersClose when spread is

Spread captured: −$5.11
Funding while held: −$8.99
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.1
Spread needed to break even: 0.190%

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0300%
Per $10,000 a day: −$8.99
Average in range /8h: —

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 Deribit live order book, 3 min ago	11.67 bp	doesn't fit	doesn't fit	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 price on every exchange

against the cheapest. Click to use as the short leg.

Bulk287.27cheapest ApeX Omni287.45+0.063%Variational Omni287.54+0.093%edgeX287.58+0.109%Phoenix288.20+0.324%Kraken Futures288.24+0.336%Aster288.24+0.337%Phemex288.24+0.338%

Deribit288.27+0.348%

Extended288.32+0.364%Bitget288.32+0.366%HTX288.32+0.366%Orderly288.34+0.372%SunX288.37+0.383%Backpack288.39+0.390%gTrade (Gains Network)288.39+0.391%Gate288.40+0.393%BloFin288.41+0.397%

GMX288.42+0.400%

Aevo288.45+0.413%Bullet288.52+0.435%Nado288.52+0.436%Katana Perps288.53+0.439%dYdX288.60+0.463%Popdex288.60+0.463%Reya288.62+0.472%KuCoin288.64+0.477%BingX288.66+0.484%OKX288.70+0.498%Polymarket Perps288.71+0.501%MEXC288.72+0.505%RISEx288.76+0.519%Binance288.77+0.521%Pacifica288.82+0.540%01 Exchange288.86+0.554%Paradex288.94+0.581%Bybit289.01+0.606%Hyperliquid289.02+0.609%Lighter289.05+0.619%Coinbase International289.17+0.661%Arcus289.18+0.665%Injective291.94+1.626%

TAO on 42 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bulk TAO-USD	−0.398%	−0.1169%	1h	$150K	$0	10x	as long as short
ApeX Omni TAOUSDT	−0.336%	+0.0100%	1h	$43K	$266K	50x	as long as short
Variational Omni TAO	−0.305%	+0.0100%	4h	$3.4M	$4.6M	—	as long as short
edgeX TAOUSDC	−0.289%	+0.0100%	4h	$32K	$289K	10x	as long as short
Phoenix TAO	−0.075%	+0.0332%	1h	$306K	$157K	5x	as long as short
Kraken Futures PF_TAOUSD	−0.063%	+0.0047%	1h	$5.4M	$14.0M	50x	as long as short
Aster TAOUSDT	−0.063%	+0.0100%	4h	$1.6M	$5.0M	50x	as long as short
Phemex TAOUSDT	−0.062%	+0.0100%	4h	$3.0M	$7.4M	50x	as long as short
Deribit TAO_USDC-PERPETUALshort	−0.051%	+0.0168%	1h	$34K	$898K	25x
Extended TAO-USD	−0.035%	+0.0104%	1h	$775K	$1.3M	25x	as long as short

Show all 42 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget TAOUSDT	−0.034%	+0.0054%	4h	$32.7M	$36.5M	50x	as long as short
HTX TAO-USDT	−0.034%	+0.0100%	4h	$118K	$314K	20x	as long as short
Orderly PERP_TAO_USDC	−0.027%	+0.0100%	4h	$52K	$146K	10x	as long as short
SunX TAO-USDT	−0.017%	+0.0100%	4h	$1K	$1.6M	20x	as long as short
Backpack TAO_USDC_PERP	−0.010%	+0.0141%	1h	$273K	$409K	10x	as long as short
gTrade (Gains Network) TAO/USD	−0.008%	L +0.0004% / S −0.0008%	1h	$14K	—	150x	as long as short
Gate TAO_USDT	−0.006%	+0.0100%	4h	$11.4M	$43.5M	50x	as long as short
BloFin TAO-USDT	−0.003%	+0.0340%	4h	$4.1M	$7.0M	100x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	0.000%	L +0.0468% / S −0.0189%	1h	$428K	—	100x
Aevo TAO-PERP	+0.013%	+0.0104%	1h	$158K	$998	3x	as long as short
Bullet TAO-USD	+0.035%	+0.0100%	1h	$9K	$17K	20x	as long as short
Nado TAO-PERP	+0.036%	+0.0414%	1h	$1.1M	$1.1M	10x	as long as short
Katana Perps TAO-USD	+0.039%	+0.0100%	8h	$633	$303K	5x	as long as short
dYdX TAO-USD	+0.063%	0.0000%	1h	$73K	$41K	5x	as long as short
Popdex TAOUSDT	+0.063%	+0.0096%	1h	$50K	$458K	20x	as long as short
Reya TAORUSDPERP	+0.072%	+0.0692%	1h	$332	—	20x	as long as short
KuCoin TAOUSDTM	+0.077%	+0.0100%	4h	$18.4M	$19.7M	75x	as long as short
BingX TAO-USDT	+0.084%	+0.0100%	4h	—	$28.0M	—	as long as short
OKX TAO-USDT-SWAP	+0.098%	+0.0100%	8h	$23.2M	$67.9M	50x	as long as short
Polymarket Perps TAO-USD	+0.101%	+0.0100%	1h	$75K	$1.1M	5x	as long as short
MEXC TAO_USDT	+0.105%	+0.0100%	4h	$101.5M	$103.2M	300x	as long as short
RISEx TAO/USDC	+0.119%	+0.0553%	1h	$335K	$423K	5x	as long as short
Binance TAOUSDT	+0.121%	+0.0100%	4h	$80.9M	$324.4M	75x	as long as short
Pacifica TAO	+0.140%	+0.0100%	1h	$334K	$371K	10x	as long as short
01 Exchange TAOUSD	+0.153%	+0.0504%	1h	$3K	$6K	5x	as long as short
Paradex TAO-USD-PERP	+0.181%	+0.0116%	8h	$13K	$376	10x	as long as short
Bybit TAOUSDT	+0.205%	+0.0100%	4h	$53.6M	$84.4M	50x	as long as short
Hyperliquid TAO	+0.209%	+0.1043%	1h	$79.3M	$52.1M	5x	as long as short
Lighter TAO	+0.218%	+0.0792%	1h	$1.4M	$1.9M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.261%	+0.0920%	1h	$1.4M	$4.2M	50x	as long as short
Arcus TAO-USD	+0.264%	+0.0100%	1h	$123K	$568K	5x	as long as short
Injective TAO/USDC PERP	+1.221%	+0.3912%	1h	$21K	$87K	12x	as long as short