TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h −0.054%

Price spread now: Reya against Hyperliquid−0.078%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.078% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TAO	320.22	0.0674	pay 0.0084% / 1h	47m 24s	$94.7M	$110.0M	5x
Short	Reya TAORUSDPERP	319.97	0.0698	get 0.0087% / 1h	47m 24s	$368	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.078%Rate

Funding earned: $5.01
Price spread: −0.078% → 0.000%: −$7.77
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$17.75
Costs to cover: 0.150%
Break-even: 31.8 days

Slippage unknown: Hyperliquid: live order book, 6 min ago; Reya: no order-book sample. Net counts fees only.

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, 6 min ago	0.16 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.2101%	1h	320.87	+0.203%	$170K	$333	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.84	−0.120%	$128K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	319.72	−0.157%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	320.19	−0.009%	$41K	$694K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.80	−0.131%	$26.6M	$128.9M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	319.80	−0.131%	$14.2M	$51.4M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	320.10	−0.037%	$17.5M	$31.9M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.74	−0.150%	$36.0M	$58.1M	50x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	320.69	+0.147%	$45K	$259K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	319.90	−0.100%	$76K	$1.1M	5x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX TAO-USDT	+0.0100%	4h	320.38	+0.050%	$1K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	319.91	−0.097%	$117K	$585K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	320.74	+0.162%	$3.3M	$8.1M	50x	as long as short
Katana Perps TAO-USD	+0.0109%	8h	320.34	+0.037%	$1K	$992K	5x	as long as short
Aevo TAO-PERP	+0.0120%	1h	320.81	+0.186%	$176K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0120%	4h	319.84	−0.119%	$53K	$293K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0122% / S +0.0155%	1h	319.66	−0.175%	$432K	—	100x	as long as short
edgeX TAOUSDC	+0.0148%	4h	320.71	+0.154%	$42K	$317K	10x	as long as short
MEXC TAO_USDT	+0.0152%	4h	320.03	−0.059%	$105.0M	$149.4M	300x	as long as short
Binance TAOUSDT	+0.0152%	4h	320.04	−0.056%	$92.7M	$526.1M	75x	as long as short
Paradex TAO-USD-PERP	+0.0262%	8h	320.07	−0.047%	$15K	$1K	10x	as long as short
Aster TAOUSDT	+0.0306%	4h	320.08	−0.044%	$1.3M	$10.9M	50x	as long as short
Bullet TAO-USD	+0.0373%	1h	320.05	−0.054%	$12K	$17K	20x	as long as short
BingX TAO-USDT	+0.0386%	4h	320.04	−0.056%	—	$34.4M	—	as long as short
Bybit TAOUSDT	+0.0389%	4h	319.92	−0.094%	$69.9M	$155.7M	50x	as long as short
BloFin TAO-USDT	+0.0393%	4h	320.43	+0.066%	$4.7M	$11.1M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0424%	4h	322.11	+0.589%	$548K	$948K	10x	as long as short
Extended TAO-USD	+0.0480%	1h	320.22	0.000%	$914K	$2.4M	25x	as long as short
Pacifica TAO	+0.0525%	1h	320.28	+0.020%	$365K	$423K	10x	as long as short
Variational Omni TAO	+0.0536%	4h	321.98	+0.549%	$5.6M	$10.2M	—	as long as short
Phoenix TAO	+0.0567%	1h	321.70	+0.462%	$320K	$709K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0589%	1h	320.63	+0.128%	$14K	$1.9M	25x	as long as short
Backpack TAO_USDC_PERP	+0.0607%	1h	320.77	+0.172%	$319K	$899K	10x	as long as short
Nado TAO-PERP	+0.0636%	1h	320.86	+0.199%	$802K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0641%	1h	320.47	+0.078%	$103K	$394K	5x	as long as short
01 Exchange TAOUSD	+0.0648%	1h	320.52	+0.094%	$3K	$4K	5x	as long as short
Hyperliquid TAOlong	+0.0674%	1h	320.22	long leg	$94.7M	$110.0M	5x
Reya TAORUSDPERPshort	+0.0698%	1h	319.97	−0.078%	$368	—	20x
Lighter TAO	+0.0872%	1h	320.51	+0.090%	$1.5M	$6.6M	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0944%	1h	322.95	+0.853%	$1.5M	$6.9M	50x	as long as short
RISEx TAO/USDC	+0.1077%	1h	320.25	+0.008%	$461K	$665K	5x	as long as short
Kraken Futures PF_TAOUSD	+0.1151%	1h	320.82	+0.187%	$6.1M	$21.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4723%	1h	328.25	+2.508%	$24K	$2K	12x	as long as short