Funding you earn now, next payment 22:00 UTC−0.1509%/8h= −165.2% APRpaid last 24h −0.150%
Price spread now: Orderly against Hyperliquid−0.167%7-day average −0.077% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.420%−$42 on $10k
+Price spread, last 3 days (all we have)+0.118%+$12 · spread now −0.167%, 7d avg −0.077%
=Together, before fees−0.303%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Orderly is 0.090% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.077%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.420% in total (about -21.9% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TAO | 306.23 | 0.1609 | pay 0.0201% / 1h | 38m 16s | $92.9M | $75.3M | 5x |
| Short | Orderly PERP_TAO_USDC | 305.72 | 0.0100 | get 0.0050% / 4h | 2h 38m | $59K | $276K | 10x |
Hyperliquid TAO
Orderly PERP_TAO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$316.83
- Price spread: −0.167% → −0.077%
- −$8.98
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$340.81
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 6 min ago; Orderly: 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, 6 min ago | 0.98 bp | 7.7 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 305.37 | −0.281% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 305.57 | −0.217% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 305.65 | −0.189% | $41K | $526K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 305.76 | −0.152% | $361K | $400K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.75 | −0.157% | $85.7M | $401.5M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 305.82 | −0.134% | $58.9M | $117.6M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 305.70 | −0.173% | $25.0M | $92.2M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 306.06 | −0.056% | $137K | $593K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 305.50 | −0.238% | $12.1M | $47.7M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 305.69 | −0.176% | $112.5M | $122.4M | 300x | as long as short |
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_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 305.56 | −0.219% | $18.4M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 305.52 | −0.232% | $34.3M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 305.75 | −0.157% | — | $30.4M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 306.23 | +0.001% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.88 | −0.113% | $40K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.96 | −0.089% | $536K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.81 | −0.137% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 305.72 | −0.168% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDCshort | +0.0100% | 4h | 305.72 | −0.167% | $59K | $276K | 10x | |
| SunX TAO-USDT | +0.0100% | 4h | 305.41 | −0.268% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 305.74 | −0.160% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 305.60 | −0.206% | $3.2M | $7.9M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.66 | −0.186% | $168K | $998 | 3x | as long as short |
| Polymarket Perps TAO-USD | +0.0111% | 1h | 305.72 | −0.167% | $85K | $669K | 5x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 305.69 | −0.176% | $2K | $426K | 5x | as long as short |
| Aster TAOUSDT | +0.0117% | 4h | 305.67 | −0.184% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0166% | 8h | 305.74 | −0.160% | $14K | $992 | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0171% | 1h | 305.80 | −0.140% | $13K | $1.3M | 25x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 305.54 | −0.224% | $436K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.80 | −0.140% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0236% | 1h | 305.77 | −0.149% | $845K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.23 | −0.327% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 306.09 | −0.046% | $3K | $4K | 5x | as long as short |
| Extended TAO-USD | +0.0656% | 1h | 305.80 | −0.142% | $873K | $1.9M | 25x | as long as short |
| Bulk TAO-USD | +0.0668% | 1h | 304.81 | −0.464% | $200K | $57K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.62 | −0.198% | $351 | — | 20x | as long as short |
| Lighter TAO | +0.0824% | 1h | 306.08 | −0.050% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 306.48 | +0.082% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1031% | 1h | 305.86 | −0.120% | $6.3M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.97 | −0.086% | $408K | $534K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1231% | 1h | 305.58 | −0.212% | $467K | $683K | 10x | as long as short |
| Hyperliquid TAOlong | +0.1609% | 1h | 306.23 | long leg | $92.9M | $75.3M | 5x | |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.506% | $22K | $136 | 12x | as long as short |
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
Variational Omni TAO
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Polymarket Perps TAO-USD
Katana Perps TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Deribit TAO_USDC-PERPETUAL
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Extended TAO-USD
Bulk TAO-USD
Reya TAORUSDPERP
Lighter TAO
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Injective TAO/USDC PERP