TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0077%/8h= −8.5% APRnext payment −$0.10 per $10,000 · paid last 24h −0.491%

Price spread now: Hyperliquid against Injective−1.166%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−3.075%−$307 on $10k

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

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hyperliquid is 1.166% cheaper against Injective than usual: you would sell low and buy high (−$117 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	Injective TAO/USDC PERP	308.73	0.1621	pay 0.0203% / 1h	50m 59s	$22K	$264	12x
Short	Hyperliquid TAO	305.13	0.1544	get 0.0193% / 1h	50m 59s	$94.3M	$78.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. 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 InjectivebpFee HyperliquidbpOrdersPrice spread, now −1.166%Rate

Funding earned: −$16.22
Price spread: −1.166% → 0.000%: −$116.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$141.85
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 13 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 13 min ago	1.45 bp	6.3 bp −$6	6.3 bp −$63	doesn't fit	doesn't fit

Injective: 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
Bulk TAO-USD	−0.0466%	1h	307.38	−0.437%	$202K	$17K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	304.71	−1.301%	$125K	$87K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0007%	1h	304.65	−1.323%	$26K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	304.89	−1.244%	$42K	$532K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	304.80	−1.273%	$85.6M	$409.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	304.75	−1.289%	$59.2M	$120.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	304.70	−1.305%	$24.6M	$94.4M	50x	as long as short
Arcus TAO-USD	+0.0100%	1h	305.19	−1.147%	$136K	$584K	5x	as long as short
Gate TAO_USDT	+0.0100%	4h	304.60	−1.338%	$12.1M	$48.1M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	304.80	−1.273%	$119.9M	$123.5M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	304.65	−1.322%	$18.3M	$26.8M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	304.61	−1.334%	$34.1M	$45.7M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	304.80	−1.273%	—	$30.4M	—	as long as short
Variational Omni TAO	+0.0100%	4h	308.27	−0.149%	$3.7M	$6.6M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	306.44	−0.743%	$40K	$278K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	306.54	−0.708%	$545K	$937K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	306.50	−0.722%	$46K	$269K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	305.02	−1.202%	$78K	$608K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	304.75	−1.290%	$11K	$18K	20x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	304.61	−1.334%	$58K	$276K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	304.66	−1.318%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	304.72	−1.299%	$120K	$354K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	304.68	−1.312%	$3.2M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	304.74	−1.292%	$167K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0112%	8h	304.95	−1.224%	$2K	$485K	5x	as long as short
Aster TAOUSDT	+0.0137%	4h	304.78	−1.281%	$1.1M	$7.6M	50x	as long as short
Paradex TAO-USD-PERP	+0.0158%	8h	304.87	−1.251%	$14K	$1K	10x	as long as short
Pacifica TAO	+0.0164%	1h	305.07	−1.186%	$361K	$369K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0069%	1h	304.60	−1.339%	$435K	—	100x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0301%	1h	304.71	−1.301%	$24K	$1.4M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	304.89	−1.244%	$4.3M	$9.4M	100x	as long as short
Backpack TAO_USDC_PERP	+0.0380%	1h	304.91	−1.237%	$377K	$756K	10x	as long as short
01 Exchange TAOUSD	+0.0448%	1h	305.01	−1.205%	$3K	$4K	5x	as long as short
Phoenix TAO	+0.0521%	1h	307.40	−0.431%	$326K	$491K	5x	as long as short
Nado TAO-PERP	+0.0544%	1h	304.80	−1.274%	$836K	$1.9M	10x	as long as short
Lighter TAO	+0.0656%	1h	305.06	−1.188%	$1.7M	$5.1M	5x	as long as short
Reya TAORUSDPERP	+0.0694%	1h	304.86	−1.255%	$351	—	20x	as long as short
Extended TAO-USD	+0.0848%	1h	304.62	−1.333%	$889K	$2.0M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	305.39	−1.082%	$1.5M	$5.6M	50x	as long as short
Kraken Futures PF_TAOUSD	+0.1037%	1h	304.70	−1.306%	$5.9M	$19.7M	50x	as long as short
RISEx TAO/USDC	+0.1155%	1h	305.14	−1.161%	$411K	$545K	5x	as long as short
Hyperliquid TAOshort	+0.1544%	1h	305.13	−1.166%	$94.3M	$78.2M	5x
Injective TAO/USDC PERPlong	+0.1621%	1h	308.73	long leg	$22K	$264	12x