Funding you earn now, next payment 01:00 UTC−0.4444%/8h= −486.6% APRpaid last 24h −0.180%
Price spread now: Phemex against Hyperliquid−0.266%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$197as in the Funding arb table
Net, price: spread back to 7d avg − costs−$131as in the Price arb table
costs, in and out, $10k−$1111.111% of the position
Funding, last 7 days−0.859%−$86 on $10k
+Price spread, last 3 days (all we have)+0.293%+$29 · spread now −0.266%, 7d avg −0.071%
=Together, before fees−0.567%+ Points / potential airdropHyperliquid: Season 2 · farm board−$57 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$133 a day on $10k at the current rate, and Phemex is 0.195% cheaper against Hyperliquid than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.071%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.859% in total (about -44.8% a year). A funding rate is set anew for every payment. 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 | 319.57 | 0.2936 | pay 0.0367% / 1h | 55m 07s | $104.3M | $88.4M | 5x |
| Short | Phemex TAOUSDT | 318.72 | −0.1508 | pay 0.0754% / 4h | 3h 55m | $3.4M | $7.9M | 50x |
Hyperliquid TAO
Phemex TAOUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$933.17
- Price spread: −0.266% → −0.071%
- −$19.5
- Slippage, 4 orders
- −$90.08
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$1,063.74
- Costs to cover
- 1.111%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Phemex: live order book, 4 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, 9 min ago | 2.68 bp | 7.9 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 24.94 bp | 52.4 bp −$52 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | −0.1799% | 1h | 311.96 | −2.381% | $167K | $44K | 10x | as long as short |
| Phemex TAOUSDTshort | −0.1508% | 4h | 318.72 | −0.266% | $3.4M | $7.9M | 50x | |
| dYdX TAO-USD | 0.0000% | 1h | 318.93 | −0.200% | $128K | $88K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 318.83 | −0.232% | $21K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 319.14 | −0.135% | $40K | $578K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0100% | 8h | 319.30 | −0.084% | $853 | $589K | 5x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 318.75 | −0.257% | $91.1M | $437.7M | 75x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 318.60 | −0.304% | $25.8M | $106.2M | 50x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 318.60 | −0.304% | $12.9M | $49.4M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 318.81 | −0.238% | $104.9M | $131.1M | 300x | as long as short |
Bulk TAO-USD
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Katana Perps TAO-USD
Binance TAOUSDT
OKX TAO-USDT-SWAP
Gate TAO_USDT
MEXC TAO_USDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin TAOUSDTM | +0.0100% | 4h | 318.86 | −0.222% | $19.0M | $28.3M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 318.73 | −0.263% | $35.7M | $48.7M | 50x | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 319.37 | −0.062% | $36K | $287K | 10x | as long as short |
| Orderly PERP_TAO_USDC | +0.0100% | 4h | 318.90 | −0.210% | $57K | $316K | 10x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 318.90 | −0.210% | $2K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 319.04 | −0.166% | $127K | $423K | 20x | as long as short |
| Aevo TAO-PERP | +0.0104% | 1h | 321.72 | +0.672% | $177K | $998 | 3x | as long as short |
| GRVT TAO_USDT_Perp | +0.0142% | 4h | 319.47 | −0.032% | $531K | $945K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0174% / S +0.0071% | 1h | 318.75 | −0.258% | $454K | — | 100x | as long as short |
| Pacifica TAO | +0.0185% | 1h | 319.35 | −0.069% | $378K | $371K | 10x | as long as short |
| Arcus TAO-USD | +0.0201% | 1h | 319.38 | −0.059% | $84K | $545K | 5x | as long as short |
| Aster TAOUSDT | +0.0209% | 4h | 318.90 | −0.210% | $1.1M | $8.1M | 50x | as long as short |
| Paradex TAO-USD-PERP | +0.0217% | 8h | 318.99 | −0.181% | $14K | $1K | 10x | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0230% | 1h | 318.92 | −0.205% | $24K | $1.5M | 25x | as long as short |
| Variational Omni TAO | +0.0291% | 4h | 319.01 | −0.175% | $5.5M | $8.6M | — | as long as short |
| Bullet TAO-USD | +0.0292% | 1h | 319.11 | −0.144% | $12K | $17K | 20x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 318.55 | −0.319% | $4.4M | $10.8M | 100x | as long as short |
| BingX TAO-USDT | +0.0398% | 4h | 318.84 | −0.228% | — | $30.7M | — | as long as short |
| Polymarket Perps TAO-USD | +0.0419% | 1h | 319.24 | −0.103% | $100K | $633K | 5x | as long as short |
| ApeX Omni TAOUSDT | +0.0476% | 1h | 318.98 | −0.185% | $48K | $268K | 50x | as long as short |
| Bybit TAOUSDT | +0.0477% | 4h | 318.87 | −0.219% | $65.4M | $129.7M | 50x | as long as short |
| Kraken Futures PF_TAOUSD | +0.0481% | 1h | 318.70 | −0.271% | $5.8M | $20.2M | 50x | as long as short |
| Phoenix TAO | +0.0537% | 1h | 319.30 | −0.084% | $334K | $624K | 5x | as long as short |
| Injective TAO/USDC PERP | +0.0571% | 1h | 317.85 | −0.538% | $23K | $370 | 12x | as long as short |
| Reya TAORUSDPERP | +0.0695% | 1h | 318.88 | −0.216% | $367 | — | 20x | as long as short |
| Nado TAO-PERP | +0.0783% | 1h | 319.11 | −0.145% | $886K | $2.0M | 10x | as long as short |
| 01 Exchange TAOUSD | +0.0840% | 1h | 319.30 | −0.084% | $3K | $4K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0984% | 1h | 320.17 | +0.188% | $1.5M | $6.1M | 50x | as long as short |
| Extended TAO-USD | +0.1000% | 1h | 318.91 | −0.207% | $928K | $2.2M | 25x | as long as short |
| Backpack TAO_USDC_PERP | +0.1121% | 1h | 318.82 | −0.235% | $316K | $817K | 10x | as long as short |
| RISEx TAO/USDC | +0.1141% | 1h | 319.14 | −0.134% | $420K | $586K | 5x | as long as short |
| Lighter TAO | +0.1928% | 1h | 319.42 | −0.049% | $1.7M | $5.8M | 5x | as long as short |
| Hyperliquid TAOlong | +0.2936% | 1h | 319.57 | long leg | $104.3M | $88.4M | 5x |
KuCoin TAOUSDTM
Bitget TAOUSDT
edgeX TAOUSDC
Orderly PERP_TAO_USDC
SunX TAO-USDT
HTX TAO-USDT
Aevo TAO-PERP
GRVT TAO_USDT_Perp
GMX TAO/USD [WBTC.b-USDC]
Pacifica TAO
Arcus TAO-USD
Aster TAOUSDT
Paradex TAO-USD-PERP
Deribit TAO_USDC-PERPETUAL
Variational Omni TAO
Bullet TAO-USD
BloFin TAO-USDT
BingX TAO-USDT
Polymarket Perps TAO-USD
ApeX Omni TAOUSDT
Bybit TAOUSDT
Kraken Futures PF_TAOUSD
Phoenix TAO
Injective TAO/USDC PERP
Reya TAORUSDPERP
Nado TAO-PERP
01 Exchange TAOUSD
Coinbase International TAO-PERP-INTX
Extended TAO-USD
Backpack TAO_USDC_PERP
RISEx TAO/USDC
Lighter TAO