Funding you earn now, next payment 09:00 UTC+0.0599%/8h= +65.6% APRpaid last 24h +0.223%
Price spread now: Hyperliquid against Bybit+0.175%7-day average +0.054% · 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−$27as in the Price arb table
costs, in and out, $10k−$400.395% of the position
Funding, last 7 days+0.413%+$41 on $10k
+Price spread, last 7 days−0.152%−$15 · spread now +0.175%, 7d avg +0.054%
=Together, before fees+0.261%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Hyperliquid is 0.120% dearer against Bybit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.054%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.413% in total (about 21.5% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TAOUSDT | 323.95 | 0.0100 | pay 0.0050% / 4h | 2h 59m | $71.3M | $154.9M | 50x |
| Short | Hyperliquid TAO | 324.52 | 0.0699 | get 0.0087% / 1h | 59m 57s | $98.0M | $109.9M | 5x |
Bybit TAOUSDT
Hyperliquid TAOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Bybit. 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
- $125.74
- Price spread: +0.175% → +0.054%
- $12.03
- Slippage, 4 orders
- −$19.5
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $98.26
- Costs to cover
- 0.395%
- Break-even
- 1.5 days
Slippage from Bybit: live order book, 4 min ago; Hyperliquid: live order book, 4 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 Bybit live order book, 4 min ago | 0.16 bp | 11.4 bp −$11 | 22.7 bp −$227 | 53.0 bp −$5,297 | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 1.24 bp | 8.0 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 | −0.0241% | 1h | 318.85 | −1.576% | $169K | $0 | 10x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0003% | 1h | 324.21 | +0.080% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 324.32 | +0.114% | $52K | $703K | 20x | as long as short |
| Bybit TAOUSDTlong | +0.0100% | 4h | 323.95 | long leg | $71.3M | $154.9M | 50x | |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 323.80 | −0.046% | $27.1M | $131.8M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 323.80 | −0.046% | $15.5M | $51.2M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 323.93 | −0.006% | $17.7M | $32.2M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 323.78 | −0.052% | $36.5M | $56.6M | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 324.28 | +0.102% | $89K | $1.1M | 5x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 324.04 | +0.028% | $2K | $1.9M | 20x | as long as short |
Bulk TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
Polymarket Perps TAO-USD
SunX TAO-USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TAO-USDT | +0.0100% | 4h | 324.34 | +0.120% | $117K | $552K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 324.09 | +0.043% | $3.2M | $8.1M | 50x | as long as short |
| Katana Perps TAO-USD | +0.0117% | 8h | 323.95 | 0.000% | $663 | $1.2M | 5x | as long as short |
| Aevo TAO-PERP | +0.0120% | 1h | 324.43 | +0.150% | $178K | $998 | 3x | as long as short |
| MEXC TAO_USDT | +0.0158% | 4h | 324.02 | +0.022% | $106.2M | $156.7M | 300x | as long as short |
| Binance TAOUSDT | +0.0158% | 4h | 323.99 | +0.012% | $94.8M | $519.6M | 75x | as long as short |
| BingX TAO-USDT | +0.0159% | 4h | 323.99 | +0.012% | — | $39.0M | — | as long as short |
| edgeX TAOUSDC | +0.0164% | 4h | 321.70 | −0.696% | $42K | $322K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0222% | 8h | 324.21 | +0.081% | $15K | $876 | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0245% | 4h | 324.46 | +0.157% | $55K | $272K | 10x | as long as short |
| Extended TAO-USD | +0.0280% | 1h | 323.96 | +0.002% | $979K | $2.2M | 25x | as long as short |
| Bullet TAO-USD | +0.0284% | 1h | 324.64 | +0.212% | $13K | $17K | 20x | as long as short |
| GRVT TAO_USDT_Perp | +0.0284% | 4h | 321.52 | −0.751% | $548K | $825K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0306% | 1h | 321.60 | −0.725% | $45K | $256K | 50x | as long as short |
| Aster TAOUSDT | +0.0322% | 4h | 323.96 | +0.003% | $1.3M | $11.2M | 50x | as long as short |
| Pacifica TAO | +0.0349% | 1h | 324.28 | +0.103% | $377K | $439K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0369% / S −0.0109% | 1h | 323.08 | −0.269% | $383K | — | 100x | as long as short |
| Nado TAO-PERP | +0.0394% | 1h | 324.16 | +0.064% | $737K | $2.0M | 10x | as long as short |
| BloFin TAO-USDT | +0.0399% | 4h | 323.57 | −0.117% | $4.8M | $11.0M | 100x | as long as short |
| Arcus TAO-USD | +0.0404% | 1h | 324.62 | +0.207% | $102K | $329K | 5x | as long as short |
| Variational Omni TAO | +0.0522% | 4h | 323.77 | −0.057% | $5.7M | $9.8M | — | as long as short |
| dYdX TAO-USD | +0.0564% | 1h | 324.07 | +0.038% | $273K | $232K | 5x | as long as short |
| Lighter TAO | +0.0568% | 1h | 324.40 | +0.140% | $1.6M | $6.8M | 5x | as long as short |
| Phoenix TAO | +0.0578% | 1h | 324.30 | +0.108% | $326K | $714K | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0656% | 1h | 324.84 | +0.275% | $3K | $4K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0699% | 1h | 323.36 | −0.182% | $372 | — | 20x | as long as short |
| Hyperliquid TAOshort | +0.0699% | 1h | 324.52 | +0.175% | $98.0M | $109.9M | 5x | |
| Backpack TAO_USDC_PERP | +0.0713% | 1h | 324.35 | +0.123% | $302K | $1.1M | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0737% | 1h | 324.40 | +0.138% | $20K | $1.9M | 25x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0767% | 1h | 324.32 | +0.114% | $6.3M | $21.0M | 50x | as long as short |
| RISEx TAO/USDC | +0.0840% | 1h | 324.20 | +0.076% | $443K | $711K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 324.68 | +0.225% | $1.1M | $7.5M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.3512% | 1h | 322.62 | −0.411% | $23K | $2K | 12x | as long as short |
HTX TAO-USDT
Phemex TAOUSDT
Katana Perps TAO-USD
Aevo TAO-PERP
MEXC TAO_USDT
Binance TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Orderly PERP_TAO_USDC
Extended TAO-USD
Bullet TAO-USD
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Aster TAOUSDT
Pacifica TAO
GMX TAO/USD [WBTC.b-USDC]
Nado TAO-PERP
BloFin TAO-USDT
Arcus TAO-USD
Variational Omni TAO
dYdX TAO-USD
Lighter TAO
Phoenix TAO
01 Exchange TAOUSD
Reya TAORUSDPERP
Backpack TAO_USDC_PERP
Deribit TAO_USDC-PERPETUAL
Kraken Futures PF_TAOUSD
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP