Funding you earn now, next payment 02:00 UTC+0.0967%/8h= +105.9% APRnext payment +$1.21 per $10,000 · paid last 24h +0.219%
Price spread now: Hyperliquid against Deribit−0.011%7-day average +0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs+$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$340.336% of the position
Funding, last 7 days+0.563%+$56 on $10k
+Price spread, last 3 days (all we have)−0.056%−$6 · spread now −0.011%, 7d avg +0.059%
=Together, before fees+0.507%+ Points / potential airdropHyperliquid: Season 2 · farm board+$51 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.070% cheaper against Deribit than usual: you would sell low and buy high (spread −0.011% now, against its 7-day average of +0.059%). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$29 a day). At the pace of the last 7 days (+0.563% in total) that is about 21 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.563% in total (about 29.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.21 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 | Deribit TAO_USDC-PERPETUAL | 311.14 | 0.0242 | pay 0.0030% / 1h | 53m 17s | $15K | $1.5M | 25x |
| Short | Hyperliquid TAO | 311.10 | 0.1209 | get 0.0151% / 1h | 53m 17s | $98.7M | $92.3M | 5x |
Deribit TAO_USDC-PERPETUAL
Hyperliquid TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- $203.06
- Price spread: −0.011% → +0.059%
- −$7
- Slippage, 4 orders
- −$17.63
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $162.42
- Costs to cover
- 0.336%
- Break-even
- 1.4 days
Slippage from Deribit: live order book, 1 min ago; Hyperliquid: live order book, 11 min ago.
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 Deribit live order book, 1 min ago | 4.03 bp | 7.5 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.16 bp | 7.0 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 310.71 | −0.137% | $124K | $87K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0002% | 1h | 310.92 | −0.069% | $12K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 310.84 | −0.095% | $45K | $614K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 311.65 | +0.164% | $89.4M | $458.7M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 311.40 | +0.085% | $25.3M | $109.0M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 311.10 | −0.011% | $12.6M | $49.2M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 311.60 | +0.149% | $99.6M | $135.9M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 311.49 | +0.114% | $18.2M | $30.1M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 311.07 | −0.021% | $34.6M | $52.4M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 310.77 | −0.119% | $34K | $298K | 10x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDCShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 309.46 | −0.539% | $516K | $962K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 311.07 | −0.021% | $48K | $267K | 50x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 311.21 | +0.024% | $56K | $324K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 311.14 | +0.001% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 311.16 | +0.008% | $118K | $448K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 311.28 | +0.045% | $171K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 310.79 | −0.111% | $1K | $668K | 5x | as long as short |
| Aster TAOUSDT | +0.0155% | 4h | 311.19 | +0.017% | $1.2M | $9.1M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0170% | 1h | 311.33 | +0.062% | $5.6M | $20.4M | 50x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0171% / S +0.0091% | 1h | 310.88 | −0.081% | $429K | — | 100x | as long as short |
| Bullet TAO-USD | +0.0217% | 1h | 311.35 | +0.069% | $12K | $17K | 20x | as long as short |
| Paradex TAO-USD-PERP | +0.0240% | 8h | 310.93 | −0.066% | $14K | $1K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUALlong | +0.0242% | 1h | 311.14 | long leg | $15K | $1.5M | 25x | |
| Pacifica TAO | +0.0285% | 1h | 310.92 | −0.069% | $368K | $373K | 10x | as long as short |
| Arcus TAO-USD | +0.0337% | 1h | 311.15 | +0.005% | $82K | $551K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 311.57 | +0.140% | $4.5M | $10.7M | 100x | as long as short |
| Polymarket Perps TAO-USD | +0.0353% | 1h | 311.39 | +0.082% | $91K | $670K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0470% | 1h | 312.79 | +0.532% | $23K | $2K | 12x | as long as short |
| Bulk TAO-USD | +0.0529% | 1h | 316.43 | +1.702% | $168K | $40K | 10x | as long as short |
| Nado TAO-PERP | +0.0546% | 1h | 311.43 | +0.094% | $765K | $2.1M | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0584% | 1h | 311.39 | +0.082% | $3K | $4K | 5x | as long as short |
| Phoenix TAO | +0.0588% | 1h | 310.60 | −0.172% | $325K | $681K | 5x | as long as short |
| Variational Omni TAO | +0.0654% | 4h | 308.57 | −0.825% | $5.3M | $8.8M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 311.43 | +0.094% | $358 | — | 20x | as long as short |
| BingX TAO-USDT | +0.0704% | 4h | 311.35 | +0.069% | — | $30.9M | — | as long as short |
| Backpack TAO_USDC_PERP | +0.0738% | 1h | 310.54 | −0.191% | $314K | $815K | 10x | as long as short |
| Bybit TAOUSDT | +0.0758% | 4h | 311.84 | +0.226% | $63.5M | $135.6M | 50x | as long as short |
| Phemex TAOUSDT | +0.0840% | 4h | 311.46 | +0.104% | $3.3M | $7.9M | 50x | as long as short |
| Extended TAO-USD | +0.1016% | 1h | 311.28 | +0.047% | $897K | $2.4M | 25x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 311.13 | −0.002% | $1.5M | $6.4M | 50x | as long as short |
| RISEx TAO/USDC | +0.1132% | 1h | 310.92 | −0.070% | $412K | $603K | 5x | as long as short |
| Hyperliquid TAOshort | +0.1209% | 1h | 311.10 | −0.011% | $98.7M | $92.3M | 5x | |
| Lighter TAO | +0.1504% | 1h | 311.94 | +0.257% | $1.6M | $6.0M | 5x | as long as short |
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
Katana Perps TAO-USD
Aster TAOUSDT
Kraken Futures PF_TAOUSD
GMX TAO/USD [WBTC.b-USDC]
Bullet TAO-USD
Paradex TAO-USD-PERP
Pacifica TAO
Arcus TAO-USD
BloFin TAO-USDT
Polymarket Perps TAO-USD
Injective TAO/USDC PERP
Bulk TAO-USD
Nado TAO-PERP
01 Exchange TAOUSD
Phoenix TAO
Variational Omni TAO
Reya TAORUSDPERP
BingX TAO-USDT
Backpack TAO_USDC_PERP
Bybit TAOUSDT
Phemex TAOUSDT
Extended TAO-USD
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Lighter TAO