TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0697%/8h= −76.3% APRnext payment −$0.87 per $10,000 · paid last 24h −0.227%

Price spread now: Polymarket Perps against Hyperliquid−0.147%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Hyperliquid Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.521%−$52 on $10k

Price spread, last 4 days (all we have)+0.391%+$39 · spread now −0.147%, 7d avg −0.083%

Together, before fees−0.130%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Polymarket Perps is 0.063% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.083%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TAO	313.61	0.0797	pay 0.0100% / 1h	33m 25s	$91.7M	$108.8M	5x
Short	Polymarket Perps TAO-USD	313.15	0.0100	get 0.0013% / 1h	33m 25s	$89K	$920K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Hyperliquid. 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 HyperliquidbpFee Polymarket PerpsbpOrdersPrice spread, now −0.147%Rate

Funding earned: −$146.3
Price spread: −0.147% → −0.083%: −$6.34
Slippage, 4 orders: −$10.2
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$179.85
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Polymarket Perps: live order book, 15 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, 10 min ago	0.48 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 15 min ago	2.71 bp	6.7 bp −$7	8.2 bp −$82	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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.02	−0.188%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0038%	1h	313.17	−0.140%	$125K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.30	−0.097%	$89.9M	$507.8M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.20	−0.131%	$26.2M	$122.0M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.32	+0.226%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	312.90	−0.226%	$13.8M	$50.8M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.42	−0.061%	$107.4M	$145.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.19	−0.134%	$17.3M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.04	−0.182%	$35.3M	$57.1M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.91	+0.732%	$42K	$315K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USDshort	+0.0100%	1h	313.15	−0.147%	$89K	$920K	5x
SunX TAO-USDT	+0.0100%	4h	313.97	+0.115%	$2K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	314.24	+0.201%	$113K	$553K	20x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	313.45	−0.051%	$642	$907K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.42	+0.257%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0124%	4h	314.24	+0.201%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0130% / S +0.0139%	1h	313.03	−0.185%	$419K	—	100x	as long as short
Phemex TAOUSDT	+0.0135%	4h	314.22	+0.195%	$3.2M	$8.0M	50x	as long as short
Popdex TAOUSDT	+0.0160%	1h	313.33	−0.089%	$49K	$665K	20x	as long as short
Aster TAOUSDT	+0.0196%	4h	313.17	−0.139%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	313.63	+0.005%	$357K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0263%	8h	313.58	−0.009%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0271%	1h	313.24	−0.117%	$771K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0296%	1h	314.13	+0.166%	$10K	$1.8M	25x	as long as short
Kraken Futures PF_TAOUSD	+0.0303%	1h	314.38	+0.245%	$5.9M	$21.4M	50x	as long as short
GRVT TAO_USDT_Perp	+0.0306%	4h	313.96	+0.112%	$533K	$935K	10x	as long as short
Bullet TAO-USD	+0.0331%	1h	313.44	−0.054%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	315.94	+0.743%	$4.6M	$11.0M	100x	as long as short
BingX TAO-USDT	+0.0426%	4h	313.32	−0.092%	—	$33.7M	—	as long as short
Variational Omni TAO	+0.0431%	4h	314.95	+0.426%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0456%	1h	313.09	−0.166%	$900K	$2.4M	25x	as long as short
Bybit TAOUSDT	+0.0464%	4h	313.24	−0.118%	$68.0M	$152.4M	50x	as long as short
ApeX Omni TAOUSDT	+0.0472%	1h	316.27	+0.848%	$45K	$256K	50x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.75	+0.045%	$101K	$370K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.00	+0.124%	$312K	$713K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	313.36	−0.078%	$360	—	20x	as long as short
01 Exchange TAOUSD	+0.0768%	1h	313.55	−0.019%	$3K	$4K	5x	as long as short
Hyperliquid TAOlong	+0.0797%	1h	313.61	long leg	$91.7M	$108.8M	5x
Lighter TAO	+0.0800%	1h	313.84	+0.073%	$1.5M	$6.6M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0829%	1h	314.19	+0.185%	$310K	$889K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	316.22	+0.832%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.69	+0.024%	$455K	$648K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	317.66	+1.291%	$23K	$2K	12x	as long as short