Funding you earn now, next payment 03:00 UTC+0.1290%/8h= +141.2% APRnext payment +$1.61 per $10,000 · paid last 24h +0.226%
Price spread now: Hyperliquid against Popdex−0.066%7-day average +0.088% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$350.350% of the position
Funding, last 4 days (all we have)+0.364%+$36 on $10k
+Price spread, last 4 days (all we have)−0.222%−$22 · spread now −0.066%, 7d avg +0.088%
=Together, before fees+0.142%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.154% cheaper against Popdex than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of +0.088%). If the spread goes back, that is −$15 on $10k: about 10 hours of funding at the current rate (+$39 a day). At the pace of the last 4 days (+0.364% in total) that is about 36 hours.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.364% in total (about 37.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.61 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 | Popdex TAOUSDT | 319.40 | 0.0096 | pay 0.0012% / 1h | 41m 31s | $44K | $654K | 20x |
| Short | Hyperliquid TAO | 319.19 | 0.1386 | get 0.0173% / 1h | 41m 31s | $100.2M | $98.8M | 5x |
Popdex TAOUSDT
Hyperliquid TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Popdex. 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
- $270.89
- Price spread: −0.066% → +0.088%
- −$15.39
- Slippage, 4 orders
- −$19.56
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $220.54
- Costs to cover
- 0.350%
- Break-even
- 1.3 days
Slippage from Popdex: live order book, 23 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 Popdex live order book, 23 min ago | 2.04 bp | 9.1 bp −$9 | 77.1 bp −$771 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 12 min ago | 1.10 bp | 7.5 bp −$8 | 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 | −0.3652% | 1h | 316.49 | −0.911% | $168K | $1K | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 318.47 | −0.291% | $127K | $84K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 319.02 | −0.119% | $21K | — | 150x | as long as short |
| Popdex TAOUSDTlong | +0.0096% | 1h | 319.40 | long leg | $44K | $654K | 20x | |
| Binance TAOUSDT | +0.0100% | 4h | 319.46 | +0.018% | $92.6M | $471.0M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 320.20 | +0.250% | $26.3M | $116.9M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.90 | −0.157% | $13.0M | $49.3M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 319.25 | −0.047% | $106.3M | $139.0M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.75 | −0.204% | $18.0M | $30.8M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 319.01 | −0.122% | $35.6M | $53.8M | 50x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 318.60 | −0.252% | $36K | $300K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 319.23 | −0.053% | $76K | $759K | 5x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 319.35 | −0.016% | $58K | $282K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 319.07 | −0.103% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.59 | +0.059% | $130K | $478K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 318.97 | −0.135% | $3.4M | $7.8M | 50x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 319.47 | +0.021% | $175K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0115% | 8h | 319.23 | −0.053% | $1K | $753K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0163% / S +0.0106% | 1h | 318.95 | −0.141% | $434K | — | 100x | as long as short |
| GRVT TAO_USDT_Perp | +0.0224% | 4h | 318.95 | −0.140% | $526K | $955K | 10x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0246% | 1h | 319.37 | −0.011% | $5.6M | $20.5M | 50x | as long as short |
| Bullet TAO-USD | +0.0286% | 1h | 319.37 | −0.009% | $12K | $18K | 20x | as long as short |
| Aster TAOUSDT | +0.0322% | 4h | 319.20 | −0.064% | $1.2M | $9.3M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0329% | 8h | 319.17 | −0.071% | $14K | $1K | 10x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 318.53 | −0.272% | $4.5M | $10.4M | 100x | as long as short |
| Pacifica TAO | +0.0448% | 1h | 318.99 | −0.130% | $376K | $396K | 10x | as long as short |
| Phoenix TAO | +0.0504% | 1h | 318.30 | −0.344% | $333K | $707K | 5x | as long as short |
| Arcus TAO-USD | +0.0509% | 1h | 319.69 | +0.091% | $101K | $489K | 5x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0535% | 1h | 319.27 | −0.040% | $18K | $1.6M | 25x | as long as short |
| Nado TAO-PERP | +0.0536% | 1h | 320.35 | +0.297% | $773K | $2.1M | 10x | as long as short |
| BingX TAO-USDT | +0.0642% | 4h | 319.36 | −0.013% | — | $30.3M | — | as long as short |
| Bybit TAOUSDT | +0.0658% | 4h | 320.15 | +0.235% | $68.2M | $139.9M | 50x | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 319.26 | −0.044% | $367 | — | 20x | as long as short |
| 01 Exchange TAOUSD | +0.0768% | 1h | 319.93 | +0.166% | $3K | $4K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0883% | 1h | 318.78 | −0.194% | $47K | $253K | 50x | as long as short |
| Variational Omni TAO | +0.0885% | 4h | 316.62 | −0.871% | $5.9M | $9.7M | — | as long as short |
| Extended TAO-USD | +0.0920% | 1h | 319.36 | −0.013% | $927K | $2.3M | 25x | as long as short |
| Lighter TAO | +0.0960% | 1h | 319.19 | −0.067% | $1.6M | $6.3M | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0960% | 1h | 319.59 | +0.059% | $439K | $860K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.1024% | 1h | 320.00 | +0.188% | $1.5M | $6.5M | 50x | as long as short |
| RISEx TAO/USDC | +0.1159% | 1h | 319.44 | +0.013% | $453K | $627K | 5x | as long as short |
| Hyperliquid TAOshort | +0.1386% | 1h | 319.19 | −0.066% | $100.2M | $98.8M | 5x | |
| Injective TAO/USDC PERP | +0.4172% | 1h | 319.69 | +0.091% | $23K | $2K | 12x | as long as short |
edgeX TAOUSDC
Polymarket Perps TAO-USD
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
GRVT TAO_USDT_Perp
Kraken Futures PF_TAOUSD
Bullet TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
BloFin TAO-USDT
Pacifica TAO
Phoenix TAO
Arcus TAO-USD
Deribit TAO_USDC-PERPETUAL
Nado TAO-PERP
BingX TAO-USDT
Bybit TAOUSDT
Reya TAORUSDPERP
01 Exchange TAOUSD
ApeX Omni TAOUSDT
Variational Omni TAO
Extended TAO-USD
Lighter TAO
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Injective TAO/USDC PERP