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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 22:00 UTC+0.1486%/8h= +162.8% APRpaid last 24h +0.150%
Price spread now: Hyperliquid against HTX+0.319%7-day average +0.200% · you sell dearer than you buy
Net, funding: paid 7d − costs−$240as in the Funding arb table
Net, price: spread back to 7d avg − costs−$263as in the Price arb table
costs, in and out, $10k−$2752.745% of the position
Long on HTXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.349%+$35 on $10k
Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.319%, 7d avg +0.200%
Together, before fees+0.179%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Hyperliquid is 0.119% dearer against HTX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.200%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.349% in total (about 18.2% 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
LongHTX TAO-USDT305.720.0100pay 0.0050% / 4h2h 39m$120K$352K20x
ShortHyperliquid TAO306.690.1586get 0.0198% / 1h39m 55s$93.1M$75.4M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. 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
$312.16
Price spread: +0.319% → +0.200%
$11.88
Slippage, 4 orders
−$253.52
Fee HTX: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$49.52
Costs to cover
2.745%
Break-even
5.9 days
Slippage from HTX: live order book, 48 min ago; Hyperliquid: live order book, 4 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 HTX live order book, 48 min ago31.40 bp168.7 bp −$169doesn't fitdoesn't fitdoesn't fit
Sell Hyperliquid live order book, 4 min ago0.98 bp5.5 bp −$55.5 bp −$55doesn'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
dYdX TAO-USD0.0000%1h305.70−0.008%$128K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h305.91+0.063%$19K—150xas long as short
Popdex TAOUSDT+0.0096%1h305.97+0.082%$40K$524K20xas long as short
Pacifica TAO+0.0100%1h306.15+0.141%$362K$401K10xas long as short
Binance TAOUSDT+0.0100%4h306.10+0.126%$85.8M$401.4M75xas long as short
Bybit TAOUSDT+0.0100%4h306.31+0.193%$58.9M$117.5M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h306.30+0.190%$25.0M$92.3M50xas long as short
Arcus TAO-USD+0.0100%1h306.47+0.245%$137K$593K5xas long as short
Gate TAO_USDT+0.0100%4h305.80+0.026%$12.1M$47.6M50xas long as short
MEXC TAO_USDT+0.0100%4h306.03+0.101%$112.5M$122.0M300xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin TAOUSDTM+0.0100%4h306.08+0.118%$18.4M$26.4M75xas long as short
Bitget TAOUSDT+0.0100%4h305.720.000%$34.3M$44.4M50xas long as short
BingX TAO-USDT+0.0100%4h306.01+0.095%—$30.4M—as long as short
Variational Omni TAO+0.0100%4h306.23+0.167%$3.6M$6.7M—as long as short
edgeX TAOUSDC+0.0100%4h305.46−0.084%$40K$277K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h304.62−0.361%$544K$957K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h305.59−0.043%$46K$267K50xas long as short
Bullet TAO-USD+0.0100%1h306.11+0.128%$12K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h306.06+0.111%$59K$276K10xas long as short
SunX TAO-USDT+0.0100%4h305.92+0.065%$1K$1.8M20xas long as short
HTX TAO-USDTlong+0.0100%4h305.72long leg$120K$352K20x
Phemex TAOUSDT+0.0100%4h306.04+0.105%$3.2M$8.0M50xas long as short
Aevo TAO-PERP+0.0104%1h306.11+0.127%$168K$9983xas long as short
Katana Perps TAO-USD+0.0113%8h306.08+0.118%$2K$424K5xas long as short
Polymarket Perps TAO-USD+0.0113%1h306.18+0.150%$85K$669K5xas long as short
Aster TAOUSDT+0.0117%4h306.20+0.156%$1.1M$7.5M50xas long as short
Paradex TAO-USD-PERP+0.0165%8h306.05+0.107%$14K$99210xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h305.89+0.056%$437K—100xas long as short
Nado TAO-PERP+0.0194%1h306.05+0.109%$846K$1.9M10xas long as short
Phoenix TAO+0.0234%1h305.80+0.026%$324K$462K5xas long as short
Deribit TAO_USDC-PERPETUAL+0.0239%1h306.18+0.149%$13K$1.3M25xas long as short
BloFin TAO-USDT+0.0340%4h306.16+0.144%$4.3M$9.4M100xas long as short
01 Exchange TAOUSD+0.0480%1h306.34+0.203%$3K$4K5xas long as short
Extended TAO-USD+0.0648%1h305.99+0.089%$873K$1.9M25xas long as short
Bulk TAO-USD+0.0668%1h304.81−0.298%$200K$57K10xas long as short
Reya TAORUSDPERP+0.0694%1h306.06+0.110%$352—20xas long as short
Lighter TAO+0.0808%1h306.57+0.279%$1.6M$4.8M5xas long as short
Coinbase International TAO-PERP-INTX+0.0960%1h306.88+0.379%$1.5M$5.3M50xas long as short
Kraken Futures PF_TAOUSD+0.1029%1h306.41+0.227%$6.3M$19.5M50xas long as short
RISEx TAO/USDC+0.1053%1h306.20+0.157%$407K$532K5xas long as short
Backpack TAO_USDC_PERP+0.1221%1h306.50+0.255%$469K$683K10xas long as short
Hyperliquid TAOshort+0.1586%1h306.69+0.319%$93.1M$75.4M5x
Injective TAO/USDC PERP+0.4876%1h307.78+0.674%$22K$13612xas long as short