Funding you earn now, next payment 03:00 UTC−0.1290%/8h= −141.2% APRnext payment −$1.61 per $10,000 · paid last 24h −0.226%
Price spread now: Popdex against Hyperliquid+0.066%7-day average −0.088% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$350.350% of the position
Funding, last 4 days (all we have)−0.364%−$36 on $10k
+Price spread, last 4 days (all we have)+0.222%+$22 · spread now +0.066%, 7d avg −0.088%
=Together, before fees−0.142%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Popdex is 0.154% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of −0.088%): +$15 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 4 days (−0.364% in total) that is about 36 hours.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.364% in total (about -37.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.61 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 | 319.19 | 0.1386 | pay 0.0173% / 1h | 41m 35s | $100.2M | $98.8M | 5x |
| Short | Popdex TAOUSDT | 319.40 | 0.0096 | get 0.0012% / 1h | 41m 35s | $44K | $654K | 20x |
Hyperliquid TAO
Popdex TAOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex 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
- −$270.89
- Price spread: +0.066% → −0.088%
- $15.39
- Slippage, 4 orders
- −$19.56
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$290.46
- Costs to cover
- 0.350%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 12 min ago; Popdex: live order book, 22 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, 12 min ago | 1.10 bp | 8.0 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Popdex live order book, 22 min ago | 2.04 bp | 10.2 bp −$10 | 81.2 bp −$812 | 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 | −0.3652% | 1h | 316.49 | −0.846% | $168K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 318.47 | −0.226% | $127K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.02 | −0.053% | $21K | — | 150x | as long as short |
| Popdex TAOUSDTshort | +0.0096% | 1h | 319.40 | +0.066% | $44K | $654K | 20x | |
| Binance TAOUSDT | +0.0100% | 4h | 319.46 | +0.083% | $92.6M | $471.0M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 320.20 | +0.316% | $26.3M | $116.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.90 | −0.091% | $13.0M | $49.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.25 | +0.019% | $106.3M | $139.0M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.75 | −0.138% | $18.0M | $30.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.01 | −0.056% | $35.6M | $53.8M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 318.60 | −0.186% | $36K | $300K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 319.23 | +0.013% | $76K | $759K | 5x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.35 | +0.050% | $58K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.07 | −0.038% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.59 | +0.125% | $130K | $478K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 318.97 | −0.069% | $3.4M | $7.8M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.47 | +0.087% | $175K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 319.23 | +0.013% | $1K | $753K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0163% / S +0.0106% | 1h | 318.95 | −0.075% | $434K | — | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0224% | 4h | 318.95 | −0.075% | $526K | $955K | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0246% | 1h | 319.37 | +0.055% | $5.6M | $20.5M | 50x | as long as short |
| Bullet TAO-USD | +0.0286% | 1h | 319.37 | +0.056% | $12K | $18K | 20x | as long as short |
| Aster TAOUSDT | +0.0322% | 4h | 319.20 | +0.002% | $1.2M | $9.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0329% | 8h | 319.17 | −0.006% | $14K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 318.53 | −0.207% | $4.5M | $10.4M | 100x | as long as short |
| Pacifica TAO | +0.0448% | 1h | 318.99 | −0.064% | $376K | $396K | 10x | as long as short |
| Phoenix TAO | +0.0504% | 1h | 318.30 | −0.279% | $333K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 319.69 | +0.157% | $101K | $489K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0535% | 1h | 319.27 | +0.026% | $18K | $1.6M | 25x | as long as short |
| Nado TAO-PERP | +0.0536% | 1h | 320.35 | +0.363% | $773K | $2.1M | 10x | as long as short |
| BingX TAO-USDT | +0.0642% | 4h | 319.36 | +0.053% | — | $30.3M | — | as long as short |
| Bybit TAOUSDT | +0.0658% | 4h | 320.15 | +0.301% | $68.2M | $139.9M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 319.26 | +0.021% | $367 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0768% | 1h | 319.93 | +0.232% | $3K | $4K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0883% | 1h | 318.78 | −0.128% | $47K | $253K | 50x | as long as short |
| Variational Omni TAO | +0.0885% | 4h | 316.62 | −0.805% | $5.9M | $9.7M | — | as long as short |
| Extended TAO-USD | +0.0920% | 1h | 319.36 | +0.052% | $927K | $2.3M | 25x | as long as short |
| Lighter TAO | +0.0960% | 1h | 319.19 | −0.001% | $1.6M | $6.3M | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0960% | 1h | 319.59 | +0.125% | $439K | $860K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 320.00 | +0.254% | $1.5M | $6.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 319.44 | +0.078% | $453K | $627K | 5x | as long as short |
| Hyperliquid TAOlong | +0.1386% | 1h | 319.19 | long leg | $100.2M | $98.8M | 5x | |
| Injective TAO/USDC PERP | +0.4172% | 1h | 319.69 | +0.157% | $23K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
GRVT TAO_USDT_Perp
Kraken Futures PF_TAOUSD
Bullet TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
BloFin TAO-USDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
Nado TAO-PERP
BingX TAO-USDT
Bybit TAOUSDT
Reya TAORUSDPERP
01 Exchange TAOUSD
ApeX Omni TAOUSDT
Variational Omni TAO
Extended TAO-USD
Lighter TAO
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Injective TAO/USDC PERP