Funding you earn now, next payment 01:00 UTC−0.3625%/8h= −396.9% APRnext payment −$4.53 per $10,000 · paid last 24h −0.503%
Price spread now: Bulk against Hyperliquid+0.765%7-day average −0.193% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$70as in the Price arb table
costs, in and out, $10k−$260.262% of the position
Funding, last 3 days (all we have)−0.659%−$66 on $10k
+Price spread, last 4 days (all we have)−0.988%−$99 · spread now +0.765%, 7d avg −0.193%
=Together, before fees−1.647%+ Points / potential airdropHyperliquid: Season 2 · farm board−$165 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bulk is 0.958% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.765% now, against its 7-day average of −0.193%): +$96 on $10k if it goes back. Holding the pair costs −$109 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 3 days (−0.659% in total) that is about 5.0 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.659% in total (about -69.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TAO | 316.25 | 0.1804 | pay 0.0225% / 1h | 8m 17s | $101.2M | $91.5M | 5x |
| Short | Bulk TAO-USD | 318.67 | −0.1821 | pay 0.0228% / 1h | 8m 17s | $169K | $40K | 10x |
Hyperliquid TAO
Bulk TAO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk 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
- −$761.19
- Price spread: +0.765% → −0.193%
- $95.77
- Slippage, 4 orders
- −$10.24
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$691.66
- Costs to cover
- 0.262%
- Break-even
- from the start
Slippage from Hyperliquid: live order book, 6 min ago; Bulk: live order book, 1 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, 6 min ago | 2.05 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bulk live order book, 1 min ago | 0.16 bp | 5.5 bp −$6 | 7.8 bp −$78 | 8.1 bp −$805 | 18.3 bp −$9,130 |
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-USDshort | −0.1821% | 1h | 318.67 | +0.765% | $169K | $40K | 10x | |
| dYdX TAO-USD | 0.0000% | 1h | 315.92 | −0.104% | $126K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 316.13 | −0.037% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 316.31 | +0.019% | $42K | $598K | 20x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 316.42 | +0.054% | $90.7M | $450.2M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 316.80 | +0.174% | $25.7M | $109.1M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 316.20 | −0.016% | $12.8M | $51.2M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 316.11 | −0.044% | $99.0M | $136.6M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 316.12 | −0.041% | $17.9M | $29.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 316.66 | +0.130% | $35.2M | $51.4M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX TAOUSDC | +0.0100% | 4h | 316.43 | +0.055% | $40K | $293K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 316.09 | −0.050% | $524K | $958K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 316.84 | +0.187% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 316.08 | −0.054% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 316.28 | +0.009% | $126K | $422K | 20x | as long as short |
| Bullet TAO-USD | +0.0103% | 1h | 316.48 | +0.073% | $12K | $17K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 316.74 | +0.156% | $174K | $998 | 3x | as long as short |
| Katana Perps TAO-USD | +0.0118% | 8h | 316.43 | +0.057% | $1K | $644K | 5x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0172% / S +0.0101% | 1h | 316.19 | −0.018% | $449K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 316.06 | −0.060% | $374K | $376K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0185% | 1h | 316.14 | −0.035% | $48K | $267K | 50x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 316.71 | +0.145% | $84K | $550K | 5x | as long as short |
| Aster TAOUSDT | +0.0204% | 4h | 316.31 | +0.020% | $1.3M | $8.8M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0235% | 8h | 316.34 | +0.028% | $14K | $1K | 10x | as long as short |
| Polymarket Perps TAO-USD | +0.0268% | 1h | 316.36 | +0.035% | $92K | $633K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 316.05 | −0.063% | $4.4M | $10.7M | 100x | as long as short |
| Phemex TAOUSDT | +0.0347% | 4h | 316.22 | −0.009% | $3.4M | $7.8M | 50x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0370% | 1h | 316.81 | +0.176% | $17K | $1.5M | 25x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0484% | 1h | 316.67 | +0.134% | $5.7M | $20.3M | 50x | as long as short |
| Phoenix TAO | +0.0525% | 1h | 316.60 | +0.111% | $331K | $624K | 5x | as long as short |
| Variational Omni TAO | +0.0546% | 4h | 316.94 | +0.219% | $5.5M | $8.7M | — | as long as short |
| 01 Exchange TAOUSD | +0.0560% | 1h | 316.70 | +0.142% | $3K | $4K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 317.77 | +0.481% | $23K | $802 | 12x | as long as short |
| BingX TAO-USDT | +0.0628% | 4h | 316.37 | +0.038% | — | $30.7M | — | as long as short |
| Reya TAORUSDPERP | +0.0696% | 1h | 315.96 | −0.092% | $363 | — | 20x | as long as short |
| Bybit TAOUSDT | +0.0734% | 4h | 316.72 | +0.149% | $65.2M | $133.4M | 50x | as long as short |
| Nado TAO-PERP | +0.0759% | 1h | 316.17 | −0.026% | $875K | $2.0M | 10x | as long as short |
| Backpack TAO_USDC_PERP | +0.0804% | 1h | 315.97 | −0.089% | $319K | $816K | 10x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 317.15 | +0.285% | $1.5M | $6.4M | 50x | as long as short |
| Extended TAO-USD | +0.1112% | 1h | 316.81 | +0.176% | $885K | $2.3M | 25x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 316.56 | +0.098% | $420K | $593K | 5x | as long as short |
| Lighter TAO | +0.1424% | 1h | 316.68 | +0.137% | $1.7M | $6.1M | 5x | as long as short |
| Hyperliquid TAOlong | +0.1804% | 1h | 316.25 | long leg | $101.2M | $91.5M | 5x |
edgeX TAOUSDC
GRVT TAO_USDT_Perp
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Bullet TAO-USD
Aevo TAO-PERP
Katana Perps TAO-USD
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
ApeX Omni TAOUSDT
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Polymarket Perps TAO-USD
BloFin TAO-USDT
Phemex TAOUSDT
Deribit TAO_USDC-PERPETUAL
Kraken Futures PF_TAOUSD
Phoenix TAO
Variational Omni TAO
01 Exchange TAOUSD
Injective TAO/USDC PERP
BingX TAO-USDT
Reya TAORUSDPERP
Bybit TAOUSDT
Nado TAO-PERP
Backpack TAO_USDC_PERP
Coinbase International TAO-PERP-INTX
Extended TAO-USD
RISEx TAO/USDC
Lighter TAO