Funding you earn now, next payment 22:00 UTC+0.1482%/8h= +162.3% APRnext payment +$1.85 per $10,000 · paid last 24h +0.150%
Price spread now: Hyperliquid against Polymarket Perps+0.170%7-day average +0.073% · you sell dearer than you buy
Net, funding: paid 7d − costs+$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$280.282% of the position
Funding, last 7 days+0.409%+$41 on $10k
+Price spread, last 3 days (all we have)−0.518%−$52 · spread now +0.170%, 7d avg +0.073%
=Together, before fees−0.110%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Hyperliquid is 0.097% dearer against Polymarket Perps than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.073%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.409% in total (about 21.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.85 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 | Polymarket Perps TAO-USD | 305.00 | 0.0105 | pay 0.0013% / 1h | 39m 18s | $85K | $669K | 5x |
| Short | Hyperliquid TAO | 305.52 | 0.1587 | get 0.0198% / 1h | 39m 18s | $92.7M | $75.3M | 5x |
Polymarket Perps TAO-USD
Hyperliquid TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Polymarket Perps. 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
- $311.25
- Price spread: +0.170% → +0.073%
- $9.72
- Slippage, 4 orders
- −$11.2
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $292.78
- Costs to cover
- 0.282%
- Break-even
- 0.4 days
Slippage from Polymarket Perps: live order book, 48 min ago; Hyperliquid: live order book, 5 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 Polymarket Perps live order book, 48 min ago | 3.04 bp | 7.0 bp −$7 | 8.7 bp −$87 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.98 bp | 5.5 bp −$5 | 5.5 bp −$55 | 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 | 304.74 | −0.085% | $128K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 304.77 | −0.076% | $19K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 304.45 | −0.180% | $41K | $525K | 20x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 304.92 | −0.025% | $360K | $400K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 305.00 | +0.001% | $85.5M | $401.5M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 305.12 | +0.039% | $58.8M | $117.7M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 305.10 | +0.033% | $24.9M | $92.0M | 50x | as long as short |
| Arcus TAO-USD | +0.0100% | 1h | 304.91 | −0.030% | $136K | $593K | 5x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 304.70 | −0.098% | $12.0M | $47.6M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 304.80 | −0.066% | $111.9M | $122.2M | 300x | as long as short |
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_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 304.39 | −0.200% | $18.3M | $26.4M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 304.83 | −0.056% | $34.2M | $44.4M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 304.91 | −0.030% | — | $30.5M | — | as long as short |
| Variational Omni TAO | +0.0100% | 4h | 306.23 | +0.404% | $3.6M | $6.7M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 305.88 | +0.290% | $40K | $276K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 305.96 | +0.314% | $536K | $967K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 305.81 | +0.266% | $46K | $267K | 50x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 304.99 | −0.002% | $12K | $18K | 20x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 304.99 | −0.003% | $58K | $276K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 305.02 | +0.007% | $1K | $1.8M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 304.96 | −0.013% | $120K | $352K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 304.99 | −0.003% | $3.2M | $8.0M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 305.06 | +0.019% | $168K | $998 | 3x | as long as short |
| Polymarket Perps TAO-USDlong | +0.0105% | 1h | 305.00 | long leg | $85K | $669K | 5x | |
| Katana Perps TAO-USD | +0.0113% | 8h | 304.55 | −0.148% | $2K | $424K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0124% | 1h | 305.16 | +0.052% | $13K | $1.3M | 25x | as long as short |
| Aster TAOUSDT | +0.0124% | 4h | 305.04 | +0.014% | $1.1M | $7.5M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0165% | 8h | 304.52 | −0.156% | $14K | $992 | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0069% | 1h | 304.77 | −0.075% | $435K | — | 100x | as long as short |
| Phoenix TAO | +0.0234% | 1h | 305.80 | +0.262% | $324K | $462K | 5x | as long as short |
| Nado TAO-PERP | +0.0237% | 1h | 304.84 | −0.053% | $843K | $1.9M | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 305.23 | +0.075% | $4.2M | $9.4M | 100x | as long as short |
| 01 Exchange TAOUSD | +0.0488% | 1h | 304.83 | −0.056% | $3K | $4K | 5x | as long as short |
| Extended TAO-USD | +0.0656% | 1h | 305.16 | +0.053% | $873K | $1.9M | 25x | as long as short |
| Bulk TAO-USD | +0.0668% | 1h | 304.81 | −0.062% | $200K | $57K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0694% | 1h | 305.02 | +0.007% | $351 | — | 20x | as long as short |
| Lighter TAO | +0.0808% | 1h | 305.52 | +0.170% | $1.6M | $4.8M | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0960% | 1h | 306.88 | +0.616% | $1.5M | $5.3M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1033% | 1h | 305.24 | +0.077% | $6.2M | $19.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1053% | 1h | 304.66 | −0.112% | $406K | $533K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.1221% | 1h | 306.50 | +0.492% | $469K | $683K | 10x | as long as short |
| Hyperliquid TAOshort | +0.1587% | 1h | 305.52 | +0.170% | $92.7M | $75.3M | 5x | |
| Injective TAO/USDC PERP | +0.4876% | 1h | 307.78 | +0.911% | $22K | $136 | 12x | as long as short |
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
Aevo TAO-PERP
Katana Perps TAO-USD
Deribit TAO_USDC-PERPETUAL
Aster TAOUSDT
Paradex TAO-USD-PERP
GMX TAO/USD [WBTC.b-USDC]
Phoenix TAO
Nado TAO-PERP
BloFin TAO-USDT
01 Exchange TAOUSD
Extended TAO-USD
Bulk TAO-USD
Reya TAORUSDPERP
Lighter TAO
Coinbase International TAO-PERP-INTX
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Backpack TAO_USDC_PERP
Injective TAO/USDC PERP