TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.227%

Price spread now: ApeX Omni against Hyperliquid−0.095%85s7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.396% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 4 days (all we have)+0.628%+$63 · spread now −0.095%, 7d avg −0.052%

Together, before fees+0.247%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and ApeX Omni is 0.043% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.052%). Swap the legs. The two prices were read 85 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	Hyperliquid TAO	314.74	0.0246	pay 0.0031% / 1h	28m 07s	$92.6M	$106.4M	5x
Short	ApeX Omni TAOUSDT	314.44	0.0100	get 0.0013% / 1h	28m 07s	$46K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.095%Rate

Funding earned: −$30.66
Price spread: −0.095% → −0.052%: −$4.34
Slippage, 4 orders: −$20.63
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$74.62
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; ApeX Omni: live order book, 28 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 Hyperliquid live order book, 6 min ago	1.11 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 28 min ago	5.36 bp	13.0 bp −$13	133.3 bp −$1,333	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	315.44	+0.224%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.62	−0.037%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	314.47	−0.087%	$5.5M	$20.7M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0084%	1h	314.50	−0.077%	$12K	$1.7M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.20	+0.146%	$43K	$683K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.11	+0.118%	$999	$794K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.51	−0.074%	$90.8M	$493.5M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.52	−0.070%	$68.5M	$147.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	−0.076%	$25.9M	$119.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.30	−0.139%	$12.9M	$49.9M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	314.42	−0.101%	$110.2M	$143.9M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.56	−0.057%	$17.6M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.36	−0.120%	$35.1M	$56.3M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.61	−0.041%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.75	+0.004%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.89	+0.049%	$521K	$955K	10x	as long as short
ApeX Omni TAOUSDTshort	+0.0100%	1h	314.44	−0.095%	$46K	$252K	50x
Polymarket Perps TAO-USD	+0.0100%	1h	314.99	+0.080%	$76K	$857K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.90	+0.052%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.43	−0.098%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.99	+0.080%	$110K	$534K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.40	−0.108%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.63	−0.036%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0130%	4h	314.59	−0.047%	$57K	$275K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0148% / S +0.0124%	1h	314.57	−0.054%	$420K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0172%	8h	315.53	+0.251%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0182%	1h	315.29	+0.174%	$802K	$2.2M	10x	as long as short
Aster TAOUSDT	+0.0213%	4h	314.96	+0.072%	$1.2M	$10.3M	50x	as long as short
Extended TAO-USD	+0.0232%	1h	314.41	−0.103%	$922K	$2.4M	25x	as long as short
Hyperliquid TAOlong	+0.0246%	1h	314.74	long leg	$92.6M	$106.4M	5x
Bulk TAO-USD	+0.0285%	1h	315.07	+0.105%	$167K	$2K	10x	as long as short
01 Exchange TAOUSD	+0.0288%	1h	315.23	+0.156%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0296%	1h	314.77	+0.010%	$1.5M	$6.5M	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.40	+0.528%	$4.5M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.48	+0.235%	$99K	$488K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0349%	1h	314.62	−0.038%	$315K	$913K	10x	as long as short
Pacifica TAO	+0.0365%	1h	315.54	+0.255%	$360K	$412K	10x	as long as short
Variational Omni TAO	+0.0541%	4h	314.92	+0.057%	$5.7M	$10.0M	—	as long as short
Phoenix TAO	+0.0581%	1h	314.90	+0.051%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.03	+0.091%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.25	+0.162%	$436K	$654K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	315.91	+0.372%	$1.5M	$6.6M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.92	+1.646%	$23K	$2K	12x	as long as short