Settings8H · net · $10k
Funding arb · Price arb /

TAO

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Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC−0.0577%/8h= −63.2% APRpaid last 24h −0.230%
Price spread now: Phemex against Hyperliquid+0.382%48s7-day average −0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$148as in the Funding arb table
Net, price: spread back to 7d avg − costsprices read too far apart to compare
costs, in and out, $10k−$610.607% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.873%−$87 on $10k
Price spread, last 4 days (all we have)−0.356%−$36 · spread now +0.382%, 7d avg −0.079%
Together, before fees−1.229%+ Points / potential airdropHyperliquid: Season 2 · farm board−$123 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.461% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.382% now, against its 7-day average of −0.079%): +$46 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 2.7 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid TAO321.700.0677pay 0.0085% / 1h55m 25s$95.1M$110.0M5x
ShortPhemex TAOUSDT322.930.0100get 0.0050% / 4h1h 55m$3.3M$8.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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

Funding earned
−$121.2
Price spread: +0.382% → −0.079%
$46.11
Slippage, 4 orders
−$39.75
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$135.83
Costs to cover
0.607%
Break-even
never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Phemex: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 8 min ago1.08 bp7.3 bp −$7doesn't fitdoesn't fitdoesn't fit
Sell Phemex live order book, 3 min ago8.00 bp30.0 bp −$3034.6 bp −$346doesn't fitdoesn't fit

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bulk TAO-USD−0.1440%1h322.10+0.123%$171K$33310xas long as short
dYdX TAO-USD0.0000%1h322.84+0.353%$129K$85K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h323.01+0.406%$21K150xas long as short
Popdex TAOUSDT+0.0096%1h322.28+0.180%$40K$690K20xas long as short
OKX TAO-USDT-SWAP+0.0100%8h321.60−0.031%$26.8M$129.3M50xas long as short
Gate TAO_USDT+0.0100%4h321.00−0.218%$14.2M$51.2M50xas long as short
KuCoin TAOUSDTM+0.0100%4h321.76+0.019%$17.6M$31.9M75xas long as short
Bitget TAOUSDT+0.0100%4h321.26−0.137%$36.2M$57.8M50xas long as short
ApeX Omni TAOUSDT+0.0100%1h324.34+0.821%$47K$258K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h321.71+0.003%$87K$1.0M5xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SunX TAO-USDT+0.0100%4h323.14+0.448%$1K$2.0M20xas long as short
HTX TAO-USDT+0.0100%4h322.80+0.342%$118K$583K20xas long as short
Phemex TAOUSDTshort+0.0100%4h322.93+0.382%$3.3M$8.1M50x
Katana Perps TAO-USD+0.0110%8h322.29+0.183%$731$969K5xas long as short
Orderly PERP_TAO_USDC+0.0119%4h321.56−0.044%$53K$292K10xas long as short
Aevo TAO-PERP+0.0120%1h323.73+0.631%$178K$9983xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0124% / S +0.0144%1h321.08−0.192%$430K100xas long as short
Binance TAOUSDT+0.0154%4h321.58−0.037%$93.8M$523.2M75xas long as short
edgeX TAOUSDC+0.0156%4h324.58+0.896%$43K$315K10xas long as short
MEXC TAO_USDT+0.0156%4h321.64−0.019%$105.2M$148.9M300xas long as short
Paradex TAO-USD-PERP+0.0272%8h322.46+0.237%$15K$1K10xas long as short
Aster TAOUSDT+0.0313%4h321.59−0.033%$1.3M$10.8M50xas long as short
Bybit TAOUSDT+0.0366%4h321.59−0.034%$70.2M$155.5M50xas long as short
BingX TAO-USDT+0.0382%4h321.36−0.106%$34.3Mas long as short
BloFin TAO-USDT+0.0398%4h324.59+0.898%$4.7M$11.3M100xas long as short
Bullet TAO-USD+0.0417%1h323.30+0.498%$12K$17K20xas long as short
GRVT TAO_USDT_Perp+0.0460%4h323.74+0.633%$552K$937K10xas long as short
Extended TAO-USD+0.0488%1h322.53+0.259%$922K$2.4M25xas long as short
Variational Omni TAO+0.0506%4h323.50+0.559%$5.7M$10.1Mas long as short
Phoenix TAO+0.0513%1h324.40+0.839%$323K$709K5xas long as short
Pacifica TAO+0.0525%1h322.95+0.387%$367K$422K10xas long as short
Nado TAO-PERP+0.0598%1h321.72+0.006%$804K$2.2M10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0604%1h323.69+0.620%$18K$1.9M25xas long as short
Arcus TAO-USD+0.0641%1h322.74+0.323%$104K$384K5xas long as short
Backpack TAO_USDC_PERP+0.0669%1h323.25+0.482%$322K$898K10xas long as short
Hyperliquid TAOlong+0.0677%1h321.70long leg$95.1M$110.0M5x
Reya TAORUSDPERP+0.0698%1h321.51−0.060%$37020xas long as short
01 Exchange TAOUSD+0.0704%1h322.59+0.277%$3K$4K5xas long as short
Coinbase International TAO-PERP-INTX+0.0944%1h323.39+0.525%$1.5M$6.9M50xas long as short
Lighter TAO+0.1008%1h322.96+0.391%$1.5M$6.6M5xas long as short
RISEx TAO/USDC+0.1077%1h322.38+0.212%$464K$652K5xas long as short
Kraken Futures PF_TAOUSD+0.1142%1h323.10+0.435%$6.1M$21.7M50xas long as short
Injective TAO/USDC PERP+0.4723%1h323.62+0.597%$24K$2K12xas long as short