Funding you earn now, next payment 22:00 UTC−0.1445%/8h= −158.3% APRnext payment −$1.81 per $10,000 · paid last 24h −0.127%
Price spread now: GMX against Hyperliquid−0.230%7-day average −0.087% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.145%−$14 on $10k
+Price spread, last 3 days (all we have)+0.323%+$32 · spread now −0.230%, 7d avg −0.087%
=Together, before fees+0.178%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and GMX is 0.143% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.087%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.145% in total (about -17.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.81 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 | 304.99 | 0.1376 | pay 0.0172% / 1h | 47m 00s | $91.4M | $74.4M | 5x |
| Short | GMX TAO/USD [WBTC.b-USDC] | 304.29 | L +0.0174% / S +0.0069% | pay 0.0009% / 1h | 47m 00s | $434K | — | 100x |
Hyperliquid TAO
GMX TAO/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Hyperliquid. 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
- −$303.53
- Price spread: −0.230% → −0.087%
- −$14.31
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$338.84
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 7 min ago; GMX: no order-book sample. Net counts fees only.
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, 7 min ago | 0.66 bp | 6.7 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0973% | 1h | 304.87 | −0.039% | $200K | $57K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 304.48 | −0.167% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.42 | −0.186% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.92 | −0.023% | $39K | $520K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.87 | −0.040% | $361K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 304.67 | −0.106% | $85.3M | $400.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 304.67 | −0.105% | $58.4M | $117.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 304.70 | −0.095% | $24.8M | $91.2M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 305.27 | +0.092% | $135K | $591K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 304.30 | −0.226% | $12.0M | $47.4M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USD
Gate TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 304.67 | −0.105% | $111.6M | $121.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 304.61 | −0.125% | $18.2M | $26.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 304.50 | −0.161% | $34.1M | $44.2M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 304.75 | −0.079% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 303.48 | −0.496% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 304.89 | −0.034% | $39K | $277K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.08 | +0.030% | $545K | $977K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 303.27 | −0.564% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.45 | −0.177% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.62 | −0.121% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 304.59 | −0.131% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.23 | −0.249% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.64 | −0.115% | $3.2M | $8.0M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0104% | 1h | 304.99 | 0.000% | $83K | $665K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 304.80 | −0.061% | $167K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0109% | 4h | 304.54 | −0.148% | $1.1M | $7.4M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0114% | 8h | 305.27 | +0.092% | $872 | $416K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0142% | 1h | 304.71 | −0.091% | $16K | $1.3M | 25x | as long as short |
| Paradex TAO-USD-PERP | +0.0165% | 8h | 304.90 | −0.029% | $14K | $992 | 10x | as long as short |
| Nado TAO-PERP | +0.0174% | 1h | 304.71 | −0.090% | $744K | $1.8M | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC]short | L +0.0174% / S +0.0069% | 1h | 304.29 | −0.230% | $434K | — | 100x | |
| Phoenix TAO | +0.0234% | 1h | 305.20 | +0.069% | $323K | $462K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 304.62 | −0.121% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0424% | 1h | 305.49 | +0.164% | $3K | $4K | 5x | as long as short |
| Lighter TAO | +0.0616% | 1h | 304.84 | −0.049% | $1.6M | $4.8M | 5x | as long as short |
| Extended TAO-USD | +0.0616% | 1h | 304.66 | −0.109% | $872K | $1.9M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 304.47 | −0.171% | $350 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 305.23 | +0.079% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1034% | 1h | 304.86 | −0.042% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.39 | +0.131% | $404K | $532K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1073% | 1h | 304.79 | −0.066% | $466K | $683K | 10x | as long as short |
| Hyperliquid TAOlong | +0.1376% | 1h | 304.99 | long leg | $91.4M | $74.4M | 5x | |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.915% | $22K | $136 | 12x | as long as short |
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Bullet TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Polymarket Perps TAO-USD
Aevo TAO-PERP
Aster TAOUSDT
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Paradex TAO-USD-PERP
Nado TAO-PERP
Phoenix TAO
BloFin TAO-USDT
01 Exchange TAOUSD
Lighter TAO
Extended TAO-USD
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Injective TAO/USDC PERP