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

TAO

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Alert: funding
Alert: spread
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
What this pair did over the last
the charts below follow
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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid TAO319.570.2936pay 0.0367% / 1h55m 07s$104.3M$88.4M5x
ShortPhemex TAOUSDT318.72−0.1508pay 0.0754% / 4h3h 55m$3.4M$7.9M50x

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
−$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
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 9 min ago2.68 bp7.9 bp −$8doesn't fitdoesn't fitdoesn't fit
Sell Phemex live order book, 4 min ago24.94 bp52.4 bp −$52doesn't fitdoesn'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−0.1799%1h311.96−2.381%$167K$44K10xas long as short
Phemex TAOUSDTshort−0.1508%4h318.72−0.266%$3.4M$7.9M50x
dYdX TAO-USD0.0000%1h318.93−0.200%$128K$88K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h318.83−0.232%$21K150xas long as short
Popdex TAOUSDT+0.0096%1h319.14−0.135%$40K$578K20xas long as short
Katana Perps TAO-USD+0.0100%8h319.30−0.084%$853$589K5xas long as short
Binance TAOUSDT+0.0100%4h318.75−0.257%$91.1M$437.7M75xas long as short
OKX TAO-USDT-SWAP+0.0100%8h318.60−0.304%$25.8M$106.2M50xas long as short
Gate TAO_USDT+0.0100%4h318.60−0.304%$12.9M$49.4M50xas long as short
MEXC TAO_USDT+0.0100%4h318.81−0.238%$104.9M$131.1M300xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin TAOUSDTM+0.0100%4h318.86−0.222%$19.0M$28.3M75xas long as short
Bitget TAOUSDT+0.0100%4h318.73−0.263%$35.7M$48.7M50xas long as short
edgeX TAOUSDC+0.0100%4h319.37−0.062%$36K$287K10xas long as short
Orderly PERP_TAO_USDC+0.0100%4h318.90−0.210%$57K$316K10xas long as short
SunX TAO-USDT+0.0100%4h318.90−0.210%$2K$1.9M20xas long as short
HTX TAO-USDT+0.0100%4h319.04−0.166%$127K$423K20xas long as short
Aevo TAO-PERP+0.0104%1h321.72+0.672%$177K$9983xas long as short
GRVT TAO_USDT_Perp+0.0142%4h319.47−0.032%$531K$945K10xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0174% / S +0.0071%1h318.75−0.258%$454K100xas long as short
Pacifica TAO+0.0185%1h319.35−0.069%$378K$371K10xas long as short
Arcus TAO-USD+0.0201%1h319.38−0.059%$84K$545K5xas long as short
Aster TAOUSDT+0.0209%4h318.90−0.210%$1.1M$8.1M50xas long as short
Paradex TAO-USD-PERP+0.0217%8h318.99−0.181%$14K$1K10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0230%1h318.92−0.205%$24K$1.5M25xas long as short
Variational Omni TAO+0.0291%4h319.01−0.175%$5.5M$8.6Mas long as short
Bullet TAO-USD+0.0292%1h319.11−0.144%$12K$17K20xas long as short
BloFin TAO-USDT+0.0340%4h318.55−0.319%$4.4M$10.8M100xas long as short
BingX TAO-USDT+0.0398%4h318.84−0.228%$30.7Mas long as short
Polymarket Perps TAO-USD+0.0419%1h319.24−0.103%$100K$633K5xas long as short
ApeX Omni TAOUSDT+0.0476%1h318.98−0.185%$48K$268K50xas long as short
Bybit TAOUSDT+0.0477%4h318.87−0.219%$65.4M$129.7M50xas long as short
Kraken Futures PF_TAOUSD+0.0481%1h318.70−0.271%$5.8M$20.2M50xas long as short
Phoenix TAO+0.0537%1h319.30−0.084%$334K$624K5xas long as short
Injective TAO/USDC PERP+0.0571%1h317.85−0.538%$23K$37012xas long as short
Reya TAORUSDPERP+0.0695%1h318.88−0.216%$36720xas long as short
Nado TAO-PERP+0.0783%1h319.11−0.145%$886K$2.0M10xas long as short
01 Exchange TAOUSD+0.0840%1h319.30−0.084%$3K$4K5xas long as short
Coinbase International TAO-PERP-INTX+0.0984%1h320.17+0.188%$1.5M$6.1M50xas long as short
Extended TAO-USD+0.1000%1h318.91−0.207%$928K$2.2M25xas long as short
Backpack TAO_USDC_PERP+0.1121%1h318.82−0.235%$316K$817K10xas long as short
RISEx TAO/USDC+0.1141%1h319.14−0.134%$420K$586K5xas long as short
Lighter TAO+0.1928%1h319.42−0.049%$1.7M$5.8M5xas long as short
Hyperliquid TAOlong+0.2936%1h319.57long leg$104.3M$88.4M5x