Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.231%

Price spread now: Hyperliquid against MEXC+0.054%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs+$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.460%+$46 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.054%, 7d avg +0.070%

Together, before fees+0.426%+ Points / potential airdropHyperliquid: Season 2 · farm board+$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC TAO_USDT	315.07	0.0100	pay 0.0050% / 4h	2m 17s	$100.9M	$144.5M	300x
Short	Hyperliquid TAO	315.24	0.0288	get 0.0036% / 1h	2m 17s	$92.7M	$106.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.054%Rate

Funding earned: $39.49
Price spread: +0.054% → +0.070%: −$1.65
Slippage, 4 orders: −$7.04
Fee MEXC: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $21.8
Costs to cover: 0.160%
Break-even: 3.1 days

Slippage from MEXC: live order book, 2 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy MEXC live order book, 2 min ago	0.16 bp	2.2 bp −$2	8.4 bp −$84	27.4 bp −$2,736	79.9 bp −$39.9K
Sell Hyperliquid live order book, 12 min ago	0.63 bp	6.6 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
dYdX TAO-USD	0.0000%	1h	314.94	−0.041%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.92	−0.048%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.19	+0.040%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.01	−0.019%	$43K	$669K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.77	−0.095%	$2K	$800K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.05	−0.007%	$91.0M	$495.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.29	+0.070%	$68.0M	$148.9M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	315.20	+0.041%	$26.0M	$120.7M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	−0.086%	$167K	$2K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	314.80	−0.086%	$12.9M	$50.2M	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_USDTlong	+0.0100%	4h	315.07	long leg	$100.9M	$144.5M	300x
KuCoin TAOUSDTM	+0.0100%	4h	314.86	−0.067%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.98	−0.029%	$35.2M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	315.04	−0.010%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.70	−0.119%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.68	−0.123%	$533K	$969K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.73	−0.108%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.88	−0.060%	$77K	$862K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.16	+0.030%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.73	−0.108%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.90	−0.054%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.18	+0.035%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.26	+0.059%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0128%	4h	315.16	+0.029%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.91	−0.052%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0150%	8h	315.01	−0.020%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0159%	4h	315.06	−0.003%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0208%	1h	315.12	+0.016%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0213%	1h	314.97	−0.031%	$800K	$2.2M	10x	as long as short
Hyperliquid TAOshort	+0.0288%	1h	315.24	+0.054%	$92.7M	$106.6M	5x
BloFin TAO-USDT	+0.0340%	4h	315.15	+0.025%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.25	+0.057%	$99K	$438K	5x	as long as short
01 Exchange TAOUSD	+0.0352%	1h	315.06	−0.003%	$3K	$4K	5x	as long as short
Pacifica TAO	+0.0365%	1h	315.00	−0.021%	$359K	$412K	10x	as long as short
Backpack TAO_USDC_PERP	+0.0365%	1h	315.30	+0.073%	$313K	$913K	10x	as long as short
Lighter TAO	+0.0384%	1h	315.24	+0.054%	$1.5M	$6.5M	5x	as long as short
Variational Omni TAO	+0.0413%	4h	314.58	−0.154%	$5.7M	$9.9M	—	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0527%	1h	315.29	+0.069%	$22K	$1.7M	25x	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.181%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.05	−0.006%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	314.99	−0.026%	$438K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.16	+0.346%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	317.67	+0.825%	$23K	$2K	12x	as long as short