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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 02:00 UTC+0.1285%/8h= +140.7% APRpaid last 24h +0.217%
Price spread now: Hyperliquid against Bitget+0.602%7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs+$9as in the Price arb table
costs, in and out, $10k−$430.433% of the position
Long on BitgetShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.360%+$36 on $10k
Price spread, last 7 days−0.630%−$63 · spread now +0.602%, 7d avg +0.075%
Together, before fees−0.270%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and Hyperliquid is 0.526% dearer against Bitget than usual: you sell high and buy low: +$53 more if the spread goes back to its 7-day average of +0.075%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.360% in total (about 18.8% 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
LongBitget TAOUSDT317.400.0100pay 0.0050% / 4h2h 10m$35.4M$54.1M50x
ShortHyperliquid TAO319.310.1385get 0.0173% / 1h10m 48s$101.6M$95.5M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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
$269.83
Price spread: +0.602% → +0.075%
$52.64
Slippage, 4 orders
−$22.35
Fee Bitget: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$279.12
Costs to cover
0.433%
Break-even
from the start
Slippage from Bitget: live order book, 3 min ago; Hyperliquid: live order book, 13 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 Bitget live order book, 3 min ago2.53 bp13.5 bp −$1319.9 bp −$199doesn't fitdoesn't fit
Sell Hyperliquid live order book, 13 min ago0.16 bp6.8 bp −$7doesn't fitdoesn't fitdoesn't fit

TAO on 42 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
dYdX TAO-USD0.0000%1h319.09+0.533%$128K$84K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h318.98+0.497%$10K—150xas long as short
Popdex TAOUSDT+0.0096%1h318.81+0.444%$43K$644K20xas long as short
Binance TAOUSDT+0.0100%4h317.91+0.161%$91.8M$470.5M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h317.60+0.063%$26.3M$114.7M50xas long as short
Bulk TAO-USD+0.0100%1h315.28−0.668%$167K$40K10xas long as short
Gate TAO_USDT+0.0100%4h317.90+0.158%$13.0M$50.7M50xas long as short
MEXC TAO_USDT+0.0100%4h317.94+0.170%$113.6M$140.1M300xas long as short
KuCoin TAOUSDTM+0.0100%4h318.00+0.189%$18.1M$30.4M75xas long as short
Bitget TAOUSDTlong+0.0100%4h317.40long leg$35.4M$54.1M50x
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX TAOUSDC+0.0100%4h318.06+0.209%$35K$301K10xas long as short
Orderly PERP_TAO_USDC+0.0100%4h319.45+0.646%$58K$282K10xas long as short
SunX TAO-USDT+0.0100%4h319.32+0.605%$1K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h318.96+0.491%$130K$474K20xas long as short
Phemex TAOUSDT+0.0100%4h319.06+0.523%$3.4M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h319.77+0.748%$176K$9983xas long as short
Polymarket Perps TAO-USD+0.0112%1h318.93+0.482%$79K$683K5xas long as short
Katana Perps TAO-USD+0.0120%8h319.04+0.517%$1K$722K5xas long as short
Kraken Futures PF_TAOUSD+0.0165%1h319.34+0.611%$5.7M$20.6M50xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0167% / S +0.0102%1h319.02+0.512%$433K—100xas long as short
GRVT TAO_USDT_Perp+0.0208%4h318.20+0.251%$528K$949K10xas long as short
ApeX Omni TAOUSDT+0.0221%1h316.90−0.158%$47K$252K50xas long as short
Bullet TAO-USD+0.0261%1h319.41+0.632%$12K$17K20xas long as short
Pacifica TAO+0.0285%1h319.34+0.612%$375K$384K10xas long as short
Aster TAOUSDT+0.0299%4h318.78+0.434%$1.2M$9.3M50xas long as short
Arcus TAO-USD+0.0337%1h319.28+0.592%$100K$529K5xas long as short
Paradex TAO-USD-PERP+0.0383%8h318.97+0.494%$14K$1K10xas long as short
Injective TAO/USDC PERP+0.0470%1h321.23+1.207%$23K$2K12xas long as short
Deribit TAO_USDC-PERPETUAL+0.0492%1h319.54+0.673%$21K$1.5M25xas long as short
Nado TAO-PERP+0.0509%1h319.14+0.549%$795K$2.1M10xas long as short
Phoenix TAO+0.0588%1h317.20−0.063%$332K$681K5xas long as short
01 Exchange TAOUSD+0.0688%1h319.42+0.636%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0696%1h319.04+0.516%$367—20xas long as short
BingX TAO-USDT+0.0810%4h317.79+0.123%—$30.9M—as long as short
Bybit TAOUSDT+0.0827%4h317.99+0.186%$67.5M$139.0M50xas long as short
Variational Omni TAO+0.0861%4h319.57+0.685%$6.1M$9.4M—as long as short
Extended TAO-USD+0.0952%1h318.01+0.192%$910K$2.3M25xas long as short
Backpack TAO_USDC_PERP+0.0956%1h318.91+0.476%$322K$809K10xas long as short
Coinbase International TAO-PERP-INTX+0.1024%1h320.28+0.907%$1.5M$6.7M50xas long as short
RISEx TAO/USDC+0.1132%1h318.88+0.466%$454K$631K5xas long as short
Hyperliquid TAOshort+0.1385%1h319.31+0.602%$101.6M$95.5M5x
Lighter TAO+0.1424%1h319.82+0.764%$1.7M$6.1M5xas long as short