TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0443%/8h= +48.6% APRnext payment +$0.55 per $10,000 · paid last 24h +0.220%

Price spread now: Hyperliquid against dYdX+0.088%7-day average +0.129% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on dYdX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.311%+$31 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.088%, 7d avg +0.129%

Together, before fees+0.361%+ Points / potential airdropHyperliquid: Season 2 · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.040% cheaper against dYdX than usual: you would sell low and buy high (spread +0.088% now, against its 7-day average of +0.129%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.311% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TAO-USD	310.67	0.0014	pay 0.0002% / 1h	25m 27s	$124K	$85K	5x
Short	Hyperliquid TAO	310.94	0.0458	get 0.0057% / 1h	25m 27s	$91.4M	$107.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against dYdX. 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 dYdXbpFee HyperliquidbpOrdersPrice spread, now +0.088%Rate

Funding earned: $93.12
Price spread: +0.088% → +0.129%: −$4.02
Slippage, 4 orders: −$75.85
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$5.75
Costs to cover: 0.949%
Break-even: 7.4 days

Slippage from dYdX: live order book, 28 min ago; Hyperliquid: live order book, 8 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 dYdX live order book, 28 min ago	31.65 bp	42.5 bp −$42	67.6 bp −$676	147.8 bp −$14.8K	533.8 bp −$266.9K
Sell Hyperliquid live order book, 8 min ago	0.96 bp	7.7 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
Kraken Futures PF_TAOUSD	−0.0349%	1h	310.92	+0.081%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	310.57	−0.031%	$20K	—	150x	as long as short
dYdX TAO-USDlong	+0.0014%	1h	310.67	long leg	$124K	$85K	5x
Popdex TAOUSDT	+0.0096%	1h	311.02	+0.114%	$46K	$656K	20x	as long as short
Katana Perps TAO-USD	+0.0099%	8h	310.94	+0.088%	$636	$842K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.15	+0.157%	$354K	$414K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	310.89	+0.074%	$89.1M	$500.7M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	311.06	+0.127%	$66.9M	$150.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	311.10	+0.140%	$25.9M	$120.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.80	+0.043%	$13.2M	$50.1M	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_USDT	+0.0100%	4h	310.78	+0.037%	$101.8M	$145.0M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.87	+0.066%	$17.7M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.44	−0.073%	$34.7M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.83	+0.053%	—	$33.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	311.00	+0.109%	$41K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.97	+0.419%	$530K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	310.75	+0.027%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	310.87	+0.066%	$78K	$899K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	310.90	+0.075%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	310.80	+0.043%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	310.53	−0.044%	$110K	$541K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.00	+0.107%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0110%	4h	310.83	+0.053%	$1.3M	$10.5M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0117%	4h	310.92	+0.082%	$51K	$291K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0138% / S +0.0134%	1h	310.81	+0.048%	$412K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0139%	8h	311.06	+0.126%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.32	+0.211%	$101K	$397K	5x	as long as short
Bulk TAO-USD	+0.0264%	1h	312.41	+0.562%	$166K	$333	10x	as long as short
Variational Omni TAO	+0.0294%	4h	311.14	+0.152%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0296%	1h	310.96	+0.094%	$909K	$2.4M	25x	as long as short
Phemex TAOUSDT	+0.0315%	4h	310.95	+0.092%	$3.2M	$8.0M	50x	as long as short
BloFin TAO-USDT	+0.0340%	4h	310.89	+0.072%	$4.5M	$10.7M	100x	as long as short
Nado TAO-PERP	+0.0355%	1h	310.95	+0.091%	$785K	$2.2M	10x	as long as short
Phoenix TAO	+0.0457%	1h	312.60	+0.623%	$311K	$711K	5x	as long as short
Hyperliquid TAOshort	+0.0458%	1h	310.94	+0.088%	$91.4M	$107.7M	5x
01 Exchange TAOUSD	+0.0480%	1h	311.19	+0.169%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0490%	1h	311.14	+0.153%	$309K	$885K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0496%	1h	310.99	+0.104%	$16K	$1.8M	25x	as long as short
Lighter TAO	+0.0568%	1h	311.34	+0.218%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	310.71	+0.016%	$357	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	311.08	+0.135%	$442K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	311.86	+0.384%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	315.24	+1.472%	$23K	$2K	12x	as long as short