Funding you earn now, next payment 22:00 UTC+0.0794%/8h= +86.9% APRnext payment +$0.99 per $10,000 · paid last 24h +0.093%
Price spread now: Hyperliquid against Lighter+0.223%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$290.289% of the position
Funding, last 7 days+0.168%+$17 on $10k
+Price spread, last 7 days−0.298%−$30 · spread now +0.223%, 7d avg +0.013%
=Together, before fees−0.130%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Hyperliquid is 0.209% dearer against Lighter than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.013%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.168% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.99 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 | Lighter TAO | 304.91 | 0.0616 | pay 0.0077% / 1h | 46m 24s | $1.6M | $4.8M | 5x |
| Short | Hyperliquid TAO | 305.59 | 0.1410 | get 0.0176% / 1h | 46m 24s | $91.7M | $74.5M | 5x |
Lighter TAO
Hyperliquid TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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
- $166.72
- Price spread: +0.223% → +0.013%
- $20.94
- Slippage, 4 orders
- −$19.89
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $158.78
- Costs to cover
- 0.289%
- Break-even
- 0.3 days
Slippage from Lighter: live order book, 6 min ago; Hyperliquid: live order book, 7 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 Lighter live order book, 6 min ago | 2.76 bp | 10.0 bp −$10 | 30.0 bp −$300 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 0.66 bp | 7.2 bp −$7 | doesn't fit | 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 | −0.0973% | 1h | 304.87 | −0.013% | $200K | $57K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 304.46 | −0.148% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.68 | −0.075% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.94 | +0.010% | $39K | $521K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.66 | −0.081% | $361K | $401K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 304.85 | −0.020% | $85.4M | $400.0M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 304.91 | 0.000% | $58.5M | $116.9M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 304.80 | −0.036% | $24.8M | $91.2M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 304.98 | +0.023% | $135K | $591K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 304.70 | −0.069% | $12.0M | $47.4M | 50x | as long as short |
Bulk TAO-USD
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_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TAO_USDT | +0.0100% | 4h | 304.91 | 0.000% | $111.8M | $121.5M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 304.81 | −0.033% | $18.2M | $26.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 304.83 | −0.027% | $34.1M | $44.2M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 304.84 | −0.023% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 303.48 | −0.470% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 304.89 | −0.008% | $39K | $277K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.08 | +0.056% | $545K | $977K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 303.27 | −0.538% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.80 | −0.036% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.87 | −0.013% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 304.59 | −0.105% | $2K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.23 | −0.223% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.64 | −0.089% | $3.2M | $8.0M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0101% | 1h | 305.14 | +0.075% | $83K | $665K | 5x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 304.80 | −0.036% | $167K | $998 | 3x | as long as short |
| Aster TAOUSDT | +0.0106% | 4h | 304.74 | −0.056% | $1.1M | $7.4M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0113% | 8h | 304.96 | +0.016% | $1K | $416K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0142% | 1h | 304.71 | −0.065% | $16K | $1.3M | 25x | as long as short |
| Paradex TAO-USD-PERP | +0.0164% | 8h | 304.58 | −0.108% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.63 | −0.092% | $435K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0185% | 1h | 304.99 | +0.027% | $745K | $1.8M | 10x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.20 | +0.095% | $323K | $462K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 304.62 | −0.095% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0432% | 1h | 305.17 | +0.085% | $3K | $4K | 5x | as long as short |
| Lighter TAOlong | +0.0616% | 1h | 304.91 | long leg | $1.6M | $4.8M | 5x | |
| Extended TAO-USD | +0.0616% | 1h | 304.57 | −0.110% | $872K | $1.9M | 25x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 304.97 | +0.019% | $351 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 305.23 | +0.105% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1034% | 1h | 304.86 | −0.016% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 305.03 | +0.040% | $404K | $532K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1073% | 1h | 304.79 | −0.040% | $466K | $683K | 10x | as long as short |
| Hyperliquid TAOshort | +0.1410% | 1h | 305.59 | +0.223% | $91.7M | $74.5M | 5x | |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.941% | $22K | $136 | 12x | as long as short |
MEXC TAO_USDT
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
Polymarket Perps TAO-USD
Aevo TAO-PERP
Aster TAOUSDT
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
Phoenix TAO
BloFin TAO-USDT
01 Exchange TAOUSD
Extended TAO-USD
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Injective TAO/USDC PERP