Funding you earn now, next payment 22:00 UTC−0.1482%/8h= −162.3% APRnext payment −$1.85 per $10,000 · paid last 24h −0.150%
Price spread now: Polymarket Perps against Hyperliquid−0.170%7-day average −0.073% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$280.282% of the position
Funding, last 7 days−0.409%−$41 on $10k
+Price spread, last 3 days (all we have)+0.518%+$52 · spread now −0.170%, 7d avg −0.073%
=Together, before fees+0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Polymarket Perps is 0.097% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.073%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.409% in total (about -21.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.85 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 | 305.52 | 0.1587 | pay 0.0198% / 1h | 39m 14s | $92.7M | $75.3M | 5x |
| Short | Polymarket Perps TAO-USD | 305.00 | 0.0105 | get 0.0013% / 1h | 39m 14s | $85K | $669K | 5x |
Hyperliquid TAO
Polymarket Perps TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$311.25
- Price spread: −0.170% → −0.073%
- −$9.7
- Slippage, 4 orders
- −$11.2
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$349.14
- Costs to cover
- 0.282%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; Polymarket Perps: live order book, 48 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, 5 min ago | 0.98 bp | 7.7 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 48 min ago | 3.04 bp | 8.0 bp −$8 | 8.2 bp −$82 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX TAO-USD | 0.0000% | 1h | 304.74 | −0.255% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.77 | −0.246% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.45 | −0.350% | $41K | $525K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.92 | −0.196% | $360K | $400K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.00 | −0.170% | $85.5M | $401.5M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 305.12 | −0.131% | $58.8M | $117.7M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 305.10 | −0.137% | $24.9M | $92.0M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 304.91 | −0.200% | $136K | $593K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 304.70 | −0.268% | $12.0M | $47.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 304.80 | −0.236% | $111.9M | $122.2M | 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 | 304.39 | −0.370% | $18.3M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 304.83 | −0.226% | $34.2M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 304.91 | −0.200% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 306.23 | +0.233% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.88 | +0.119% | $40K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.96 | +0.143% | $536K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.81 | +0.095% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.99 | −0.172% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.99 | −0.173% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 305.02 | −0.164% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.96 | −0.183% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.99 | −0.173% | $3.2M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.06 | −0.151% | $168K | $998 | 3x | as long as short |
| Polymarket Perps TAO-USDshort | +0.0105% | 1h | 305.00 | −0.170% | $85K | $669K | 5x | |
| Katana Perps TAO-USD | +0.0113% | 8h | 304.55 | −0.317% | $2K | $424K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0124% | 1h | 305.16 | −0.119% | $13K | $1.3M | 25x | as long as short |
| Aster TAOUSDT | +0.0124% | 4h | 305.04 | −0.156% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0165% | 8h | 304.52 | −0.326% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.77 | −0.246% | $435K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.80 | +0.092% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0237% | 1h | 304.84 | −0.223% | $843K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.23 | −0.095% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 304.83 | −0.226% | $3K | $4K | 5x | as long as short |
| Extended TAO-USD | +0.0656% | 1h | 305.16 | −0.117% | $873K | $1.9M | 25x | as long as short |
| Bulk TAO-USD | +0.0668% | 1h | 304.81 | −0.232% | $200K | $57K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.02 | −0.163% | $351 | — | 20x | as long as short |
| Lighter TAO | +0.0808% | 1h | 305.52 | −0.001% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 306.88 | +0.445% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1033% | 1h | 305.24 | −0.093% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 304.66 | −0.282% | $406K | $533K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1221% | 1h | 306.50 | +0.321% | $469K | $683K | 10x | as long as short |
| Hyperliquid TAOlong | +0.1587% | 1h | 305.52 | long leg | $92.7M | $75.3M | 5x | |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.740% | $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
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Aster TAOUSDT
Paradex TAO-USD-PERP
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