TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.099%

Price spread now: Polymarket Perps against GMX−0.022%54s7-day average −0.001% · you buy dearer than you sell

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

Long on GMX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.350%−$35 on $10k

Price spread, last 3 days (all we have)−0.113%−$11 · spread now −0.022%, 7d avg −0.001%

Together, before fees−0.463%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.021% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TAO/USD [WBTC.b-USDC]	303.71	L +0.0174% / S +0.0069%	pay 0.0022% / 1h	45m 31s	$434K	—	100x
Short	Polymarket Perps TAO-USD	303.64	0.0100	get 0.0013% / 1h	45m 31s	$77K	$607K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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

Position, each leg$Hold fordaysFee GMXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$15.62
Price spread: −0.022% → −0.001%: −$2.06
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$37.68
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Polymarket Perps: live order book, 37 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 Polymarket Perps live order book, 37 min ago	2.28 bp	6.9 bp −$7	11.3 bp −$113	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	−0.0466%	1h	307.38	+1.210%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	303.51	−0.066%	$124K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	303.52	−0.061%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	303.32	−0.127%	$43K	$535K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	303.32	−0.127%	$84.9M	$410.2M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	303.36	−0.114%	$58.8M	$120.6M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	303.50	−0.068%	$24.4M	$94.5M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	303.52	−0.061%	$79K	$642K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	303.30	−0.134%	$12.1M	$48.4M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	303.27	−0.144%	$120.5M	$124.1M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	303.42	−0.094%	$18.2M	$26.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	303.46	−0.081%	$33.9M	$45.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	303.30	−0.134%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.07	+0.449%	$3.6M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	303.67	−0.012%	$39K	$279K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	303.73	+0.009%	$502K	$967K	10x	as long as short
Polymarket Perps TAO-USDshort	+0.0100%	1h	303.64	−0.022%	$77K	$607K	5x
Bullet TAO-USD	+0.0100%	1h	304.05	+0.114%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	303.80	+0.031%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	303.94	+0.077%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	303.83	+0.041%	$120K	$356K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	303.84	+0.044%	$3.2M	$7.8M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	303.63	−0.026%	$167K	$998	3x	as long as short
Aster TAOUSDT	+0.0108%	4h	303.49	−0.070%	$1.1M	$7.7M	50x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	303.28	−0.140%	$621	$486K	5x	as long as short
Paradex TAO-USD-PERP	+0.0153%	8h	303.36	−0.114%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	303.66	−0.014%	$359K	$370K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]long	L +0.0174% / S +0.0069%	1h	303.71	long leg	$434K	—	100x
ApeX Omni TAOUSDT	+0.0233%	1h	304.06	+0.117%	$46K	$269K	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	303.45	−0.084%	$4.3M	$9.3M	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0346%	1h	303.74	+0.012%	$20K	$1.4M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0381%	1h	303.78	+0.024%	$376K	$756K	10x	as long as short
01 Exchange TAOUSD	+0.0392%	1h	303.48	−0.074%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0408%	1h	304.20	+0.164%	$1.6M	$5.2M	5x	as long as short
Nado TAO-PERP	+0.0436%	1h	303.50	−0.067%	$826K	$1.9M	10x	as long as short
Phoenix TAO	+0.0521%	1h	303.90	+0.064%	$322K	$491K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	303.55	−0.053%	$349	—	20x	as long as short
Extended TAO-USD	+0.0832%	1h	303.21	−0.165%	$835K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.27	+0.515%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1040%	1h	303.74	+0.012%	$5.8M	$19.7M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	303.41	−0.097%	$409K	$545K	5x	as long as short
Hyperliquid TAO	+0.1288%	1h	304.23	+0.173%	$92.8M	$79.8M	5x	as long as short
Injective TAO/USDC PERP	+0.1621%	1h	308.73	+1.654%	$22K	$264	12x	as long as short