Funding you earn now, next payment 07:00 UTC−0.0121%/8h= −13.3% APRnext payment −$0.15 per $10,000 · paid last 24h −0.211%
Price spread now: Deribit against Hyperliquid+0.498%50s7-day average −0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$92as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$350.355% of the position
Funding, last 7 days−0.561%−$56 on $10k
+Price spread, last 4 days (all we have)−0.431%−$43 · spread now +0.498%, 7d avg −0.060%
=Together, before fees−0.992%+ Points / potential airdropHyperliquid: Season 2 · farm board−$99 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.558% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.498% now, against its 7-day average of −0.060%): +$56 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 7 days (−0.561% in total) that is about 7.0 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TAO | 317.50 | 0.0590 | pay 0.0074% / 1h | 4m 31s | $93.9M | $110.0M | 5x |
| Short | Deribit TAO_USDC-PERPETUAL | 319.08 | 0.0469 | get 0.0059% / 1h | 4m 31s | $15K | $2.0M | 25x |
Hyperliquid TAO
Deribit TAO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Hyperliquid. 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
- −$25.47
- Price spread: +0.498% → −0.060%
- $55.82
- Slippage, 4 orders
- −$19.5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$5.15
- Costs to cover
- 0.355%
- Break-even
- from the start
Slippage from Hyperliquid: live order book, 9 min ago; Deribit: 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 Hyperliquid live order book, 9 min ago | 0.62 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 5 min ago | 6.91 bp | 10.7 bp −$11 | 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 | −0.0237% | 1h | 320.94 | +1.083% | $171K | $333 | 10x | as long as short |
| dYdX TAO-USD | 0.0000% | 1h | 317.28 | −0.069% | $127K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0005% | 1h | 317.21 | −0.092% | $22K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 317.41 | −0.028% | $43K | $707K | 20x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 317.30 | −0.063% | $26.5M | $129.3M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 317.20 | −0.094% | $14.3M | $52.4M | 50x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 317.27 | −0.072% | $17.7M | $32.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 317.04 | −0.145% | $35.6M | $58.0M | 50x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 319.08 | +0.498% | $46K | $260K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 317.26 | −0.076% | $84K | $1.2M | 5x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
ApeX Omni TAOUSDT
Polymarket Perps TAO-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX TAO-USDT | +0.0100% | 4h | 318.95 | +0.457% | $1K | $2.0M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 318.85 | +0.425% | $116K | $599K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0108% | 8h | 317.35 | −0.047% | $720 | $1.1M | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0113% / S +0.0154% | 1h | 317.09 | −0.130% | $423K | — | 100x | as long as short |
| Aevo TAO-PERP | +0.0128% | 1h | 319.25 | +0.553% | $175K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0131% | 4h | 319.11 | +0.507% | $53K | $293K | 10x | as long as short |
| Binance TAOUSDT | +0.0185% | 4h | 317.54 | +0.013% | $92.2M | $528.4M | 75x | as long as short |
| MEXC TAO_USDT | +0.0186% | 4h | 317.38 | −0.038% | $107.3M | $151.9M | 300x | as long as short |
| edgeX TAOUSDC | +0.0188% | 4h | 319.19 | +0.532% | $42K | $318K | 10x | as long as short |
| Paradex TAO-USD-PERP | +0.0240% | 8h | 317.48 | −0.006% | $14K | $1K | 10x | as long as short |
| Bybit TAOUSDT | +0.0256% | 4h | 317.41 | −0.028% | $69.7M | $155.9M | 50x | as long as short |
| BingX TAO-USDT | +0.0282% | 4h | 317.20 | −0.094% | — | $36.5M | — | as long as short |
| Bullet TAO-USD | +0.0302% | 1h | 317.44 | −0.017% | $12K | $17K | 20x | as long as short |
| Aster TAOUSDT | +0.0345% | 4h | 317.55 | +0.016% | $1.3M | $11.0M | 50x | as long as short |
| Extended TAO-USD | +0.0352% | 1h | 317.22 | −0.088% | $904K | $2.4M | 25x | as long as short |
| GRVT TAO_USDT_Perp | +0.0364% | 4h | 318.37 | +0.275% | $540K | $917K | 10x | as long as short |
| BloFin TAO-USDT | +0.0426% | 4h | 319.29 | +0.564% | $4.7M | $11.0M | 100x | as long as short |
| Deribit TAO_USDC-PERPETUALshort | +0.0469% | 1h | 319.08 | +0.498% | $15K | $2.0M | 25x | |
| Variational Omni TAO | +0.0514% | 4h | 319.69 | +0.689% | $5.7M | $10.2M | — | as long as short |
| Nado TAO-PERP | +0.0517% | 1h | 317.54 | +0.013% | $787K | $2.0M | 10x | as long as short |
| Pacifica TAO | +0.0525% | 1h | 317.61 | +0.035% | $361K | $429K | 10x | as long as short |
| Phemex TAOUSDT | +0.0528% | 4h | 319.10 | +0.504% | $3.2M | $8.1M | 50x | as long as short |
| Phoenix TAO | +0.0567% | 1h | 319.50 | +0.630% | $318K | $709K | 5x | as long as short |
| Lighter TAO | +0.0584% | 1h | 317.56 | +0.020% | $1.6M | $6.8M | 5x | as long as short |
| Hyperliquid TAOlong | +0.0590% | 1h | 317.50 | long leg | $93.9M | $110.0M | 5x | |
| 01 Exchange TAOUSD | +0.0616% | 1h | 317.45 | −0.016% | $3K | $4K | 5x | as long as short |
| Arcus TAO-USD | +0.0641% | 1h | 317.74 | +0.076% | $102K | $389K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0678% | 1h | 318.66 | +0.365% | $297K | $905K | 10x | as long as short |
| Reya TAORUSDPERP | +0.0698% | 1h | 317.28 | −0.069% | $365 | — | 20x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0944% | 1h | 320.41 | +0.917% | $1.5M | $6.8M | 50x | as long as short |
| RISEx TAO/USDC | +0.1077% | 1h | 317.32 | −0.056% | $437K | $677K | 5x | as long as short |
| Kraken Futures PF_TAOUSD | +0.1157% | 1h | 319.16 | +0.522% | $6.0M | $21.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4723% | 1h | 323.52 | +1.896% | $24K | $2K | 12x | as long as short |
SunX TAO-USDT
HTX TAO-USDT
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Aevo TAO-PERP
Orderly PERP_TAO_USDC
Binance TAOUSDT
MEXC TAO_USDT
edgeX TAOUSDC
Paradex TAO-USD-PERP
Bybit TAOUSDT
BingX TAO-USDT
Bullet TAO-USD
Aster TAOUSDT
Extended TAO-USD
GRVT TAO_USDT_Perp
BloFin TAO-USDT
Variational Omni TAO
Nado TAO-PERP
Pacifica TAO
Phemex TAOUSDT
Phoenix TAO
Lighter TAO
01 Exchange TAOUSD
Arcus TAO-USD
Backpack TAO_USDC_PERP
Reya TAORUSDPERP
Coinbase International TAO-PERP-INTX
RISEx TAO/USDC
Kraken Futures PF_TAOUSD
Injective TAO/USDC PERP