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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 23:00 UTC+0.0997%/8h= +109.2% APRpaid last 24h +0.168%
Price spread now: Hyperliquid against OKX+0.105%7-day average +0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs+$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$340.339% of the position
Long on OKXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.361%+$36 on $10k
Price spread, last 7 days−0.060%−$6 · spread now +0.105%, 7d avg +0.097%
Together, before fees+0.301%+ 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 +0.097%, so right now this pair is about funding alone: +$30 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 0.361% in total (about 18.8% 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
LongOKX TAO-USDT-SWAP306.200.0100pay 0.0100% / 8h1h 12m$24.6M$95.6M50x
ShortHyperliquid TAO306.520.1097get 0.0137% / 1h12m 52s$93.4M$80.7M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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
$209.36
Price spread: +0.105% → +0.097%
$0.77
Slippage, 4 orders
−$14.94
Fee OKX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$176.19
Costs to cover
0.339%
Break-even
1.1 days
Slippage from OKX: live order book, 1 min ago; Hyperliquid: live order book, 11 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 OKX live order book, 1 min ago1.64 bp9.8 bp −$1015.6 bp −$15652.9 bp −$5,293doesn't fit
Sell Hyperliquid live order book, 11 min ago1.47 bp8.5 bp −$8doesn'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
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h305.61−0.192%$20K—150xas long as short
dYdX TAO-USD+0.0014%1h305.66−0.177%$125K$85K5xas long as short
Popdex TAOUSDT+0.0096%1h305.64−0.183%$45K$539K20xas long as short
Binance TAOUSDT+0.0100%4h306.21+0.004%$85.6M$414.0M75xas long as short
Bybit TAOUSDT+0.0100%4h306.36+0.052%$59.3M$121.4M50xas long as short
OKX TAO-USDT-SWAPlong+0.0100%8h306.20long leg$24.6M$95.6M50x
Arcus TAO-USD+0.0100%1h305.85−0.114%$79K$643K5xas long as short
Bulk TAO-USD+0.0100%1h302.77−1.120%$162K$54K10xas long as short
Gate TAO_USDT+0.0100%4h305.80−0.131%$12.2M$49.1M50xas long as short
MEXC TAO_USDT+0.0100%4h306.13−0.023%$113.8M$125.8M300xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin TAOUSDTM+0.0100%4h306.07−0.042%$18.2M$27.2M75xas long as short
Bitget TAOUSDT+0.0100%4h305.97−0.075%$34.1M$45.6M50xas long as short
BingX TAO-USDT+0.0100%4h306.22+0.007%—$30.3M—as long as short
Variational Omni TAO+0.0100%4h305.77−0.141%$3.7M$6.7M—as long as short
edgeX TAOUSDC+0.0100%4h305.94−0.085%$40K$280K10xas long as short
GRVT TAO_USDT_Perp+0.0100%4h305.70−0.162%$505K$967K10xas long as short
ApeX Omni TAOUSDT+0.0100%1h305.91−0.095%$46K$269K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h305.70−0.163%$75K$555K5xas long as short
Bullet TAO-USD+0.0100%1h305.84−0.118%$11K$18K20xas long as short
Orderly PERP_TAO_USDC+0.0100%4h305.83−0.121%$59K$276K10xas long as short
SunX TAO-USDT+0.0100%4h305.51−0.225%$2K$1.8M20xas long as short
HTX TAO-USDT+0.0100%4h305.86−0.111%$122K$368K20xas long as short
Phemex TAOUSDT+0.0100%4h305.88−0.105%$3.3M$7.9M50xas long as short
Aevo TAO-PERP+0.0104%1h305.87−0.109%$168K$9983xas long as short
Katana Perps TAO-USD+0.0110%8h305.69−0.167%$625$505K5xas long as short
Aster TAOUSDT+0.0117%4h306.10−0.031%$1.1M$7.7M50xas long as short
Paradex TAO-USD-PERP+0.0153%8h305.56−0.209%$14K$1K10xas long as short
Pacifica TAO+0.0164%1h305.74−0.150%$361K$370K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0069%1h305.60−0.198%$436K—100xas long as short
Deribit TAO_USDC-PERPETUAL+0.0321%1h305.91−0.094%$19K$1.4M25xas long as short
Nado TAO-PERP+0.0326%1h305.60−0.197%$825K$1.9M10xas long as short
BloFin TAO-USDT+0.0340%4h305.71−0.160%$4.2M$9.5M100xas long as short
Lighter TAO+0.0360%1h306.15−0.015%$1.6M$5.4M5xas long as short
01 Exchange TAOUSD+0.0408%1h305.79−0.134%$3K$4K5xas long as short
Backpack TAO_USDC_PERP+0.0450%1h306.07−0.042%$294K$800K10xas long as short
Phoenix TAO+0.0521%1h306.30+0.033%$320K$491K5xas long as short
Reya TAORUSDPERP+0.0695%1h305.84−0.117%$352—20xas long as short
Extended TAO-USD+0.0720%1h306.13−0.022%$834K$2.0M25xas long as short
Coinbase International TAO-PERP-INTX+0.1008%1h306.14−0.020%$1.5M$5.5M50xas long as short
Kraken Futures PF_TAOUSD+0.1032%1h305.97−0.074%$5.8M$19.6M50xas long as short
Hyperliquid TAOshort+0.1097%1h306.52+0.105%$93.4M$80.7M5x
RISEx TAO/USDC+0.1155%1h305.80−0.132%$416K$544K5xas long as short
Injective TAO/USDC PERP+0.1621%1h308.73+0.826%$22K$26412xas long as short