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Funding arb · Price arb /

TAO

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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.1489%/8h= +163.1% APRpaid last 24h +0.180%
Price spread now: Hyperliquid against KuCoin+0.070%7-day average +0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$530.533% of the position
Long on KuCoinShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.363%+$36 on $10k
Price spread, last 7 days−0.063%−$6 · spread now +0.070%, 7d avg +0.054%
Together, before fees+0.300%+ Points / potential airdropHyperliquid: Season 2 · farm board+$30 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.054%, so right now this pair is about funding alone: +$45 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.363% in total (about 18.9% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin TAOUSDTM316.070.0100pay 0.0050% / 4h2m 02s$18.8M$28.0M75x
ShortHyperliquid TAO316.290.1589get 0.0199% / 1h2m 02s$99.1M$84.8M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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

Funding earned
$312.75
Price spread: +0.070% → +0.054%
$1.56
Slippage, 4 orders
−$32.29
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$261.01
Costs to cover
0.533%
Break-even
1.2 days
Slippage from KuCoin: live order book, 7 min ago; Hyperliquid: live order book, 12 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 7 min ago2.40 bp14.9 bp −$1529.5 bp −$29591.1 bp −$9,114doesn't fit
Sell Hyperliquid live order book, 12 min ago0.16 bp7.4 bp −$7doesn't fitdoesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.2086%1h311.96−1.300%$167K$47K10xas long as short
dYdX TAO-USD0.0000%1h314.75−0.418%$126K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h315.55−0.164%$21K—150xas long as short
Injective TAO/USDC PERP+0.0033%1h315.12−0.301%$23K$37412xas long as short
Popdex TAOUSDT+0.0096%1h315.77−0.095%$39K$568K20xas long as short
Pacifica TAO+0.0100%1h315.35−0.227%$373K$363K10xas long as short
Binance TAOUSDT+0.0100%4h315.70−0.117%$89.6M$431.5M75xas long as short
Bybit TAOUSDT+0.0100%4h316.05−0.006%$65.0M$128.1M50xas long as short
OKX TAO-USDT-SWAP+0.0100%8h315.80−0.085%$25.4M$103.6M50xas long as short
Gate TAO_USDT+0.0100%4h315.60−0.149%$12.6M$50.6M50xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC TAO_USDT+0.0100%4h315.97−0.032%$111.7M$132.8M300xas long as short
KuCoin TAOUSDTMlong+0.0100%4h316.07long leg$18.8M$28.0M75x
Bitget TAOUSDT+0.0100%4h315.58−0.155%$35.3M$47.6M50xas long as short
BingX TAO-USDT+0.0100%4h315.79−0.089%—$30.5M—as long as short
edgeX TAOUSDC+0.0100%4h313.07−0.950%$41K$281K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h312.90−1.004%$524K$952K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h312.33−1.183%$47K$268K50xas long as short
Bullet TAO-USD+0.0100%1h315.85−0.070%$12K$17K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h315.72−0.111%$61K$276K10xas long as short
SunX TAO-USDT+0.0100%4h315.61−0.146%$1K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h315.47−0.190%$129K$422K20xas long as short
Phemex TAOUSDT+0.0100%4h315.87−0.063%$3.4M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h316.23+0.052%$174K$9983xas long as short
Polymarket Perps TAO-USD+0.0111%1h315.94−0.041%$77K$450K5xas long as short
Katana Perps TAO-USD+0.0112%8h315.77−0.095%$1K$577K5xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0071%1h315.57−0.159%$450K—100xas long as short
Arcus TAO-USD+0.0186%1h315.76−0.098%$83K$545K5xas long as short
Aster TAOUSDT+0.0187%4h315.80−0.087%$1.1M$7.9M50xas long as short
Paradex TAO-USD-PERP+0.0198%8h315.39−0.215%$14K$1K10xas long as short
Variational Omni TAO+0.0220%4h312.31−1.189%$3.9M$7.1M—as long as short
BloFin TAO-USDT+0.0340%4h315.59−0.152%$4.4M$10.6M100xas long as short
Nado TAO-PERP+0.0431%1h315.72−0.110%$857K$2.0M10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0443%1h315.89−0.056%$25K$1.5M25xas long as short
Kraken Futures PF_TAOUSD+0.0444%1h316.13+0.020%$5.8M$19.9M50xas long as short
Phoenix TAO+0.0537%1h315.70−0.117%$330K$521K5xas long as short
Backpack TAO_USDC_PERP+0.0546%1h315.95−0.038%$314K$813K10xas long as short
01 Exchange TAOUSD+0.0592%1h316.01−0.019%$3K$4K5xas long as short
Reya TAORUSDPERP+0.0695%1h315.77−0.094%$363—20xas long as short
Extended TAO-USD+0.0888%1h315.94−0.040%$926K$2.2M25xas long as short
Coinbase International TAO-PERP-INTX+0.0960%1h317.76+0.535%$1.5M$5.9M50xas long as short
Lighter TAO+0.1192%1h316.45+0.121%$1.7M$5.8M5xas long as short
RISEx TAO/USDC+0.1238%1h315.82−0.080%$418K$585K5xas long as short
Hyperliquid TAOshort+0.1589%1h316.29+0.070%$99.1M$84.8M5x