Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.197%

Price spread now: Hyperliquid against Aster−0.057%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.223%+$22 on $10k

Price spread, last 7 days−0.095%−$9 · spread now −0.057%, 7d avg −0.020%

Together, before fees+0.128%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hyperliquid is 0.038% cheaper against Aster than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.020%). Swap the legs. Mind the row above: over the last 6 days funding on this pair paid +0.223%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TAOUSDT	313.84	0.0151	pay 0.0076% / 4h	3h 57m	$1.2M	$10.4M	50x
Short	Hyperliquid TAO	313.66	0.0100	get 0.0013% / 1h	57m 03s	$92.2M	$106.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$10.73
Price spread: −0.057% → −0.020%: −$3.77
Slippage, 4 orders: −$16.04
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$47.53
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Hyperliquid: live order book, 7 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 Aster live order book, 2 min ago	2.70 bp	8.3 bp −$8	20.1 bp −$201	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.16 bp	8.7 bp −$9	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	−0.0346%	1h	313.60	−0.075%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.80	+0.306%	$126K	$85K	5x	as long as short
Gate TAO_USDT	+0.0004%	4h	313.20	−0.204%	$13.0M	$49.2M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.91	+0.023%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.45	+0.194%	$43K	$655K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	314.12	+0.089%	$2K	$801K	5x	as long as short
Hyperliquid TAOshort	+0.0100%	1h	313.66	−0.057%	$92.2M	$106.7M	5x
Pacifica TAO	+0.0100%	1h	315.02	+0.376%	$359K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.58	−0.084%	$90.6M	$495.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	313.71	−0.041%	$67.6M	$149.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TAO-USDT-SWAP	+0.0100%	8h	313.80	−0.013%	$25.9M	$120.3M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	+0.306%	$167K	$2K	10x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.80	−0.013%	$100.7M	$143.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.55	−0.092%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.52	−0.102%	$35.0M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	313.40	−0.140%	—	$32.9M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.93	+0.347%	$42K	$311K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.82	+0.311%	$534K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.03	+0.379%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.33	+0.156%	$77K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.25	+0.130%	$12K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	314.15	+0.099%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	313.25	−0.188%	$109K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	313.72	−0.038%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.96	+0.038%	$172K	$998	3x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0122%	1h	313.65	−0.061%	$22K	$1.7M	25x	as long as short
Orderly PERP_TAO_USDC	+0.0125%	4h	313.87	+0.010%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	313.90	+0.019%	$427K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0146%	8h	314.85	+0.321%	$14K	$1K	10x	as long as short
Aster TAOUSDTlong	+0.0151%	4h	313.84	long leg	$1.2M	$10.4M	50x
Nado TAO-PERP	+0.0161%	1h	314.50	+0.211%	$799K	$2.2M	10x	as long as short
Extended TAO-USD	+0.0200%	1h	313.79	−0.015%	$918K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.72	+0.280%	$101K	$440K	5x	as long as short
Lighter TAO	+0.0312%	1h	313.79	−0.017%	$1.5M	$6.4M	5x	as long as short
01 Exchange TAOUSD	+0.0320%	1h	314.42	+0.185%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0326%	1h	313.30	−0.172%	$311K	$914K	10x	as long as short
BloFin TAO-USDT	+0.0340%	4h	313.29	−0.175%	$4.5M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0396%	4h	315.16	+0.421%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	315.50	+0.529%	$314K	$695K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.37	+0.169%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	314.37	+0.170%	$435K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	315.26	+0.453%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.220%	$23K	$2K	12x	as long as short