Funding you earn now, next payment 22:00 UTC−0.0801%/8h= −87.7% APRnext payment −$1.00 per $10,000 · paid last 24h −0.093%
Price spread now: Lighter against Hyperliquid−0.025%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$290.289% of the position
Funding, last 7 days−0.168%−$17 on $10k
+Price spread, last 7 days+0.100%+$10 · spread now −0.025%, 7d avg −0.013%
=Together, before fees−0.068%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$24 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 -0.168% in total (about -8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.00 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 | 305.26 | 0.1417 | pay 0.0177% / 1h | 45m 57s | $91.7M | $74.6M | 5x |
| Short | Lighter TAO | 305.19 | 0.0616 | get 0.0077% / 1h | 45m 57s | $1.6M | $4.8M | 5x |
Hyperliquid TAO
Lighter TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$168.24
- Price spread: −0.025% → −0.013%
- −$1.13
- Slippage, 4 orders
- −$19.89
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$198.27
- Costs to cover
- 0.289%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Lighter: live order book, 7 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, 8 min ago | 0.66 bp | 6.7 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 2.76 bp | 5.0 bp −$5 | 19.9 bp −$199 | 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 | −0.0973% | 1h | 304.87 | −0.128% | $200K | $57K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 304.46 | −0.262% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.68 | −0.190% | $19K | — | 150x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0087% | 1h | 304.90 | −0.118% | $16K | $1.3M | 25x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.94 | −0.105% | $39K | $521K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.66 | −0.195% | $361K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 304.93 | −0.108% | $85.4M | $400.2M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 304.99 | −0.088% | $58.5M | $117.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 304.90 | −0.118% | $24.8M | $91.3M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 304.98 | −0.092% | $135K | $591K | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Deribit TAO_USDC-PERPETUAL
Popdex TAOUSDT
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAP
Arcus TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TAO_USDT | +0.0100% | 4h | 304.80 | −0.151% | $12.0M | $47.5M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 305.05 | −0.069% | $111.8M | $121.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 305.02 | −0.079% | $18.2M | $26.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 304.75 | −0.167% | $34.1M | $44.2M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 304.95 | −0.102% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 303.48 | −0.584% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 304.89 | −0.122% | $39K | $277K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.08 | −0.058% | $545K | $977K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 303.27 | −0.652% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.80 | −0.151% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.87 | −0.128% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 304.74 | −0.170% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.81 | −0.147% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.77 | −0.161% | $3.2M | $8.0M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0101% | 1h | 305.14 | −0.039% | $83K | $665K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 304.95 | −0.102% | $167K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0106% | 4h | 304.90 | −0.119% | $1.1M | $7.4M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 304.96 | −0.098% | $1K | $416K | 5x | as long as short |
| Paradex TAO-USD-PERP | +0.0164% | 8h | 304.58 | −0.222% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.63 | −0.207% | $435K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0185% | 1h | 304.99 | −0.088% | $745K | $1.8M | 10x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.20 | −0.020% | $323K | $462K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 304.62 | −0.210% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0432% | 1h | 305.17 | −0.029% | $3K | $4K | 5x | as long as short |
| Lighter TAOshort | +0.0616% | 1h | 305.19 | −0.025% | $1.6M | $4.8M | 5x | |
| Extended TAO-USD | +0.0624% | 1h | 304.88 | −0.126% | $872K | $1.9M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 304.97 | −0.096% | $351 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 305.68 | +0.138% | $1.5M | $5.4M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1033% | 1h | 305.09 | −0.055% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.03 | −0.074% | $404K | $532K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1102% | 1h | 305.30 | +0.013% | $467K | $683K | 10x | as long as short |
| Hyperliquid TAOlong | +0.1417% | 1h | 305.26 | long leg | $91.7M | $74.6M | 5x | |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.826% | $22K | $136 | 12x | as long as short |
Gate TAO_USDT
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
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Phoenix TAO
BloFin TAO-USDT
01 Exchange TAOUSD
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