TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0989%/8h= −108.2% APRnext payment −$1.24 per $10,000 · paid last 24h +0.027%

Price spread now: Reya against Hyperliquid−0.216%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Reya is 0.216% cheaper against Hyperliquid than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TAO	308.43	0.1683	pay 0.0210% / 1h	32m 16s	$94.1M	$75.7M	5x
Short	Reya TAORUSDPERP	307.76	0.0694	get 0.0087% / 1h	32m 16s	$354	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee ReyabpOrdersPrice spread, now −0.216%Rate

Funding earned: −$207.6
Price spread: −0.216% → 0.000%: −$21.59
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$244.19
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 12 min ago; Reya: 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, 12 min ago	0.98 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	308.02	−0.133%	$129K	$84K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	307.67	−0.248%	$20K	—	150x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0022%	1h	307.81	−0.200%	$14K	$1.3M	25x	as long as short
Popdex TAOUSDT	+0.0096%	1h	307.80	−0.204%	$42K	$523K	20x	as long as short
Pacifica TAO	+0.0100%	1h	308.28	−0.049%	$364K	$400K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	307.56	−0.281%	$86.3M	$401.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	307.58	−0.276%	$59.2M	$117.4M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	307.50	−0.302%	$25.1M	$92.7M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	308.16	−0.088%	$137K	$594K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	307.70	−0.237%	$12.1M	$47.8M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	307.48	−0.308%	$113.5M	$122.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	307.42	−0.327%	$18.5M	$26.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	307.67	−0.246%	$34.5M	$44.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	307.78	−0.211%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	305.77	−0.863%	$3.6M	$6.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.39	−0.662%	$40K	$277K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	307.30	−0.366%	$539K	$967K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	305.64	−0.905%	$46K	$268K	50x	as long as short
Bullet TAO-USD	+0.0100%	1h	307.84	−0.191%	$12K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	307.70	−0.237%	$59K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	307.62	−0.263%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	307.48	−0.308%	$121K	$351K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	307.41	−0.331%	$3.3M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	307.92	−0.165%	$169K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0113%	8h	307.74	−0.224%	$2K	$428K	5x	as long as short
Polymarket Perps TAO-USD	+0.0123%	1h	307.97	−0.149%	$86K	$669K	5x	as long as short
Aster TAOUSDT	+0.0157%	4h	307.78	−0.211%	$1.1M	$7.5M	50x	as long as short
Paradex TAO-USD-PERP	+0.0166%	8h	308.24	−0.061%	$14K	$1K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	307.66	−0.248%	$439K	—	100x	as long as short
Phoenix TAO	+0.0234%	1h	306.20	−0.723%	$324K	$462K	5x	as long as short
Nado TAO-PERP	+0.0264%	1h	307.84	−0.190%	$854K	$1.9M	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	307.18	−0.405%	$4.3M	$9.5M	100x	as long as short
01 Exchange TAOUSD	+0.0528%	1h	308.13	−0.097%	$3K	$4K	5x	as long as short
Bulk TAO-USD	+0.0668%	1h	304.81	−1.174%	$200K	$57K	10x	as long as short
Reya TAORUSDPERPshort	+0.0694%	1h	307.76	−0.216%	$354	—	20x
Extended TAO-USD	+0.0696%	1h	307.73	−0.227%	$881K	$1.9M	25x	as long as short
Lighter TAO	+0.0896%	1h	308.21	−0.072%	$1.7M	$4.8M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0960%	1h	308.45	+0.006%	$1.5M	$5.4M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1024%	1h	307.97	−0.150%	$6.3M	$19.5M	50x	as long as short
RISEx TAO/USDC	+0.1053%	1h	307.99	−0.144%	$412K	$534K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1300%	1h	308.10	−0.107%	$471K	$683K	10x	as long as short
Hyperliquid TAOlong	+0.1683%	1h	308.43	long leg	$94.1M	$75.7M	5x
Injective TAO/USDC PERP	+0.4876%	1h	308.62	+0.062%	$22K	$138	12x	as long as short