TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1626%/8h= −178.1% APRnext payment −$2.03 per $10,000 · paid last 24h −0.180%

Price spread now: Arcus against Hyperliquid−0.035%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Hyperliquid Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.297%−$30 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.035%, 7d avg −0.008%

Together, before fees−0.233%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$49 a day on $10k at the current rate, and Arcus is 0.027% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.297% in total (about -31.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.03 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	Hyperliquid TAO	314.70	0.1812	pay 0.0227% / 1h	32m 16s	$98.2M	$83.6M	5x
Short	Arcus TAO-USD	314.59	0.0186	get 0.0023% / 1h	32m 16s	$83K	$606K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$341.51
Price spread: −0.035% → −0.008%: −$2.67
Slippage, 4 orders: −$26.7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$384.38
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Arcus: live order book, 46 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, 12 min ago	0.32 bp	6.7 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 46 min ago	3.43 bp	13.1 bp −$13	28.3 bp −$283	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
Bulk TAO-USD	−0.4478%	1h	313.97	−0.232%	$168K	$48K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	314.86	+0.051%	$126K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.96	−0.236%	$21K	—	150x	as long as short
Injective TAO/USDC PERP	+0.0033%	1h	314.95	+0.079%	$23K	$361	12x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0075%	1h	314.16	−0.171%	$25K	$1.5M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.07	−0.200%	$34K	$563K	20x	as long as short
Pacifica TAO	+0.0100%	1h	315.06	+0.114%	$373K	$369K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.16	−0.171%	$89.2M	$425.8M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.54	−0.051%	$61.8M	$124.7M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.30	−0.127%	$25.3M	$101.7M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	313.90	−0.254%	$12.8M	$49.5M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.23	−0.149%	$110.5M	$129.4M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.31	−0.124%	$18.9M	$27.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.05	−0.207%	$35.0M	$46.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.37	−0.105%	—	$30.2M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.20	−0.157%	$41K	$280K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.97	−0.233%	$521K	$956K	10x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.21	−0.156%	$11K	$17K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	314.20	−0.159%	$60K	$275K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.10	−0.191%	$2K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.87	+0.054%	$127K	$400K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	314.19	−0.162%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.30	−0.126%	$173K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0110%	8h	314.22	−0.153%	$1K	$546K	5x	as long as short
Polymarket Perps TAO-USD	+0.0133%	1h	314.26	−0.140%	$77K	$489K	5x	as long as short
Arcus TAO-USDshort	+0.0186%	1h	314.59	−0.035%	$83K	$606K	5x
Variational Omni TAO	+0.0194%	4h	314.76	+0.019%	$4.0M	$7.0M	—	as long as short
Paradex TAO-USD-PERP	+0.0197%	8h	315.18	+0.154%	$14K	$1K	10x	as long as short
ApeX Omni TAOUSDT	+0.0205%	1h	315.19	+0.156%	$47K	$267K	50x	as long as short
Aster TAOUSDT	+0.0215%	4h	314.19	−0.162%	$1.1M	$7.8M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.81	+0.353%	$4.4M	$10.4M	100x	as long as short
Kraken Futures PF_TAOUSD	+0.0448%	1h	313.93	−0.245%	$5.7M	$19.9M	50x	as long as short
Nado TAO-PERP	+0.0454%	1h	314.15	−0.176%	$831K	$2.0M	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0477% / S −0.0175%	1h	313.81	−0.282%	$450K	—	100x	as long as short
Phoenix TAO	+0.0537%	1h	315.20	+0.159%	$330K	$521K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0551%	1h	314.37	−0.105%	$298K	$801K	10x	as long as short
01 Exchange TAOUSD	+0.0680%	1h	314.37	−0.105%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0695%	1h	314.06	−0.204%	$361	—	20x	as long as short
Extended TAO-USD	+0.0880%	1h	314.10	−0.190%	$864K	$2.1M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	315.70	+0.318%	$1.5M	$5.8M	50x	as long as short
RISEx TAO/USDC	+0.1238%	1h	314.19	−0.160%	$453K	$559K	5x	as long as short
Lighter TAO	+0.1328%	1h	314.68	−0.006%	$1.6M	$5.8M	5x	as long as short
Hyperliquid TAOlong	+0.1812%	1h	314.70	long leg	$98.2M	$83.6M	5x