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Funding arb · Price arb /

TAO

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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0725%/8h= +79.4% APRpaid last 24h +0.225%
Price spread now: Hyperliquid against BingX+0.101%7-day average +0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs+$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$310.314% of the position
Long on BingXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.364%+$36 on $10k
Price spread, last 7 days−0.075%−$7 · spread now +0.101%, 7d avg +0.074%
Together, before fees+0.289%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Hyperliquid is 0.027% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.074%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.364% in total (about 19.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX TAO-USDT318.360.0684pay 0.0342% / 4h1h 44m—$30.3M—
ShortHyperliquid TAO318.680.1409get 0.0176% / 1h44m 02s$100.3M$98.6M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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
$152.3
Price spread: +0.101% → +0.074%
$2.7
Slippage, 4 orders
−$12.39
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$123.61
Costs to cover
0.314%
Break-even
1.3 days
Slippage from BingX: live order book, 10 min ago; Hyperliquid: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 10 min ago1.41 bp7.4 bp −$714.3 bp −$14322.6 bp −$2,26258.7 bp −$29.4K
Sell Hyperliquid live order book, 10 min ago1.10 bp7.5 bp −$8doesn't fitdoesn't fitdoesn't fit

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−0.3652%1h316.49−0.587%$168K$1K10xas long as short
dYdX TAO-USD0.0000%1h317.54−0.257%$127K$84K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h318.06−0.094%$21K—150xas long as short
Popdex TAOUSDT+0.0096%1h317.97−0.123%$44K$653K20xas long as short
Binance TAOUSDT+0.0100%4h318.33−0.009%$92.0M$470.3M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h318.30−0.019%$26.3M$116.2M50xas long as short
Gate TAO_USDT+0.0100%4h318.10−0.082%$13.0M$49.3M50xas long as short
MEXC TAO_USDT+0.0100%4h318.38+0.006%$105.4M$138.8M300xas long as short
KuCoin TAOUSDTM+0.0100%4h318.28−0.025%$18.2M$30.7M75xas long as short
Bitget TAOUSDT+0.0100%4h318.11−0.079%$35.5M$53.8M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h316.40−0.615%$36K$302K10xas long as short
Polymarket Perps TAO-USD+0.0100%1h318.01−0.110%$76K$759K5xas long as short
Orderly PERP_TAO_USDC+0.0100%4h318.29−0.022%$58K$282K10xas long as short
SunX TAO-USDT+0.0100%4h317.98−0.119%$2K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h317.95−0.129%$130K$477K20xas long as short
Phemex TAOUSDT+0.0100%4h318.16−0.063%$3.4M$7.8M50xas long as short
Aevo TAO-PERP+0.0104%1h318.32−0.013%$175K$9983xas long as short
Katana Perps TAO-USD+0.0113%8h317.91−0.141%$676$750K5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0164% / S +0.0105%1h318.00−0.114%$431K—100xas long as short
GRVT TAO_USDT_Perp+0.0206%4h316.82−0.483%$523K$955K10xas long as short
Kraken Futures PF_TAOUSD+0.0247%1h318.10−0.081%$5.6M$20.5M50xas long as short
Bullet TAO-USD+0.0278%1h318.30−0.019%$12K$18K20xas long as short
Aster TAOUSDT+0.0296%4h318.27−0.028%$1.2M$9.3M50xas long as short
Paradex TAO-USD-PERP+0.0334%8h318.13−0.072%$14K$1K10xas long as short
BloFin TAO-USDT+0.0340%4h318.09−0.085%$4.5M$10.4M100xas long as short
Pacifica TAO+0.0448%1h317.87−0.154%$375K$396K10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0481%1h318.18−0.058%$17K$1.6M25xas long as short
Phoenix TAO+0.0504%1h318.30−0.019%$334K$707K5xas long as short
Arcus TAO-USD+0.0509%1h318.16−0.063%$100K$489K5xas long as short
Nado TAO-PERP+0.0542%1h318.10−0.081%$767K$2.1M10xas long as short
Bybit TAOUSDT+0.0676%4h318.45+0.028%$67.8M$139.6M50xas long as short
BingX TAO-USDTlong+0.0684%4h318.36long leg—$30.3M—
Reya TAORUSDPERP+0.0696%1h318.25−0.035%$366—20xas long as short
01 Exchange TAOUSD+0.0736%1h318.28−0.025%$3K$4K5xas long as short
Variational Omni TAO+0.0885%4h316.62−0.547%$5.9M$9.7M—as long as short
Extended TAO-USD+0.0912%1h318.11−0.079%$900K$2.3M25xas long as short
ApeX Omni TAOUSDT+0.0923%1h316.03−0.732%$46K$253K50xas long as short
Backpack TAO_USDC_PERP+0.0928%1h318.60+0.075%$438K$861K10xas long as short
Lighter TAO+0.0984%1h318.59+0.073%$1.6M$6.3M5xas long as short
Coinbase International TAO-PERP-INTX+0.1024%1h318.48+0.038%$1.5M$6.5M50xas long as short
RISEx TAO/USDC+0.1159%1h317.93−0.137%$450K$626K5xas long as short
Hyperliquid TAOshort+0.1409%1h318.68+0.101%$100.3M$98.6M5x
Injective TAO/USDC PERP+0.4172%1h319.69+0.418%$23K$2K12xas long as short