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Funding arb · Price arb /

TAO

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Alert: spread
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Funding you earn now, next payment 23:00 UTC−0.1480%/8h= −162.1% APRpaid last 24h −0.168%
Price spread now: Binance against Hyperliquid−0.078%7-day average −0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$290.295% of the position
Long on HyperliquidShort on Binance
What this pair did over the last
the charts below follow
Funding, last 7 days−0.383%−$38 on $10k
Price spread, last 7 days+0.060%+$6 · spread now −0.078%, 7d avg −0.061%
Together, before fees−0.323%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: −$44 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.383% in total (about -20.0% 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
LongHyperliquid TAO305.220.1580pay 0.0198% / 1h51m 36s$94.5M$78.1M5x
ShortBinance TAOUSDT304.980.0100get 0.0050% / 4h1h 51m$85.6M$408.8M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance 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

Funding earned
−$310.86
Price spread: −0.078% → −0.061%
−$1.67
Slippage, 4 orders
−$10.47
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Binance: 5 bp × 2 orders
−$10
Net
−$342
Costs to cover
0.295%
Break-even
never at this rate
Slippage from Hyperliquid: live order book, 12 min ago; Binance: live order book, 7 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 Hyperliquid live order book, 12 min ago1.45 bp10.5 bp −$10doesn't fitdoesn't fitdoesn't fit
Sell Binance live order book, 7 min ago0.16 bp5.5 bp −$613.5 bp −$13539.2 bp −$3,923doesn'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
Bulk TAO-USD−0.0466%1h307.38+0.708%$202K$17K10xas long as short
dYdX TAO-USD0.0000%1h304.71−0.166%$125K$87K5xas long as short
Deribit TAO_USDC-PERPETUAL0.0000%1h304.87−0.116%$17K$1.4M25xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0007%1h304.78−0.143%$26K—150xas long as short
Popdex TAOUSDT+0.0096%1h304.89−0.108%$42K$532K20xas long as short
Binance TAOUSDTshort+0.0100%4h304.98−0.078%$85.6M$408.8M75x
Bybit TAOUSDT+0.0100%4h304.91−0.102%$59.3M$120.3M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h304.80−0.138%$24.6M$94.4M50xas long as short
Arcus TAO-USD+0.0100%1h305.19−0.010%$136K$584K5xas long as short
Gate TAO_USDT+0.0100%4h304.80−0.138%$12.2M$48.1M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC TAO_USDT+0.0100%4h304.75−0.154%$119.9M$123.5M300xas long as short
KuCoin TAOUSDTM+0.0100%4h304.84−0.125%$18.3M$26.8M75xas long as short
Bitget TAOUSDT+0.0100%4h304.79−0.141%$34.2M$45.7M50xas long as short
BingX TAO-USDT+0.0100%4h304.92−0.098%—$30.4M—as long as short
Variational Omni TAO+0.0100%4h308.27+0.999%$3.7M$6.6M—as long as short
edgeX TAOUSDC+0.0100%4h306.44+0.398%$40K$278K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h306.54+0.434%$545K$937K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h306.96+0.570%$46K$269K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h305.72+0.164%$78K$613K5xas long as short
Bullet TAO-USD+0.0100%1h305.11−0.036%$11K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h304.86−0.118%$58K$276K10xas long as short
SunX TAO-USDT+0.0100%4h304.85−0.121%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h305.36+0.046%$120K$354K20xas long as short
Phemex TAOUSDT+0.0100%4h305.03−0.062%$3.2M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h304.99−0.075%$167K$9983xas long as short
Katana Perps TAO-USD+0.0112%8h304.95−0.088%$2K$485K5xas long as short
Aster TAOUSDT+0.0137%4h304.86−0.118%$1.1M$7.6M50xas long as short
Paradex TAO-USD-PERP+0.0158%8h304.87−0.116%$14K$1K10xas long as short
Pacifica TAO+0.0164%1h305.07−0.049%$361K$369K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h304.78−0.145%$438K—100xas long as short
BloFin TAO-USDT+0.0340%4h306.16+0.308%$4.3M$9.4M100xas long as short
Backpack TAO_USDC_PERP+0.0404%1h304.94−0.092%$377K$756K10xas long as short
01 Exchange TAOUSD+0.0448%1h305.01−0.069%$3K$4K5xas long as short
Nado TAO-PERP+0.0511%1h305.74+0.170%$840K$1.9M10xas long as short
Phoenix TAO+0.0521%1h307.40+0.714%$326K$491K5xas long as short
Lighter TAO+0.0656%1h305.28+0.019%$1.7M$5.0M5xas long as short
Reya TAORUSDPERP+0.0694%1h305.43+0.067%$351—20xas long as short
Extended TAO-USD+0.0848%1h304.99−0.075%$889K$2.0M25xas long as short
Coinbase International TAO-PERP-INTX+0.1008%1h305.85+0.206%$1.5M$5.6M50xas long as short
Kraken Futures PF_TAOUSD+0.1037%1h304.59−0.208%$6.0M$19.5M50xas long as short
RISEx TAO/USDC+0.1155%1h305.14−0.025%$411K$545K5xas long as short
Hyperliquid TAOlong+0.1580%1h305.22long leg$94.5M$78.1M5x
Injective TAO/USDC PERP+0.1621%1h308.73+1.150%$22K$26412xas long as short