TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h −0.052%

Price spread now: Reya against Hyperliquid−0.094%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Reya is 0.094% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TAO	313.62	0.0804	pay 0.0101% / 1h	27m 40s	$91.7M	$109.0M	5x
Short	Reya TAORUSDPERP	313.33	0.0697	get 0.0087% / 1h	27m 40s	$360	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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

Position, each leg$Hold fordaysFee HyperliquidbpFee ReyabpOrdersPrice spread, now −0.094%Rate

Funding earned: −$22.47
Price spread: −0.094% → 0.000%: −$9.36
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$46.83
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 6 min ago; Reya: no order-book sample. Net counts fees only.

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	0.64 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	313.11	−0.161%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0037%	1h	313.13	−0.155%	$125K	$85K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	313.51	−0.035%	$90.0M	$508.2M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	313.10	−0.166%	$26.2M	$122.0M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	313.47	−0.047%	$167K	$333	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	313.10	−0.166%	$13.9M	$51.0M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	313.44	−0.057%	$107.7M	$145.7M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	313.25	−0.118%	$17.3M	$31.4M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	313.04	−0.185%	$35.3M	$57.0M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.21	+0.189%	$42K	$314K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps TAO-USD	+0.0100%	1h	313.30	−0.102%	$89K	$920K	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	313.18	−0.140%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	312.95	−0.214%	$113K	$554K	20x	as long as short
Katana Perps TAO-USD	+0.0103%	8h	313.20	−0.134%	$641	$923K	5x	as long as short
Aevo TAO-PERP	+0.0104%	1h	313.58	−0.013%	$172K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0121%	4h	313.37	−0.080%	$52K	$290K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0129% / S +0.0140%	1h	312.99	−0.202%	$419K	—	100x	as long as short
Popdex TAOUSDT	+0.0136%	1h	313.28	−0.108%	$51K	$668K	20x	as long as short
Phemex TAOUSDT	+0.0195%	4h	313.23	−0.124%	$3.1M	$8.0M	50x	as long as short
Aster TAOUSDT	+0.0206%	4h	313.36	−0.082%	$1.3M	$10.6M	50x	as long as short
Pacifica TAO	+0.0233%	1h	313.49	−0.041%	$357K	$419K	10x	as long as short
Paradex TAO-USD-PERP	+0.0268%	8h	313.45	−0.055%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0271%	1h	313.38	−0.077%	$771K	$2.2M	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0304%	1h	313.51	−0.035%	$5.9M	$21.4M	50x	as long as short
Bullet TAO-USD	+0.0321%	1h	313.45	−0.055%	$12K	$17K	20x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.40	+0.249%	$4.6M	$10.9M	100x	as long as short
GRVT TAO_USDT_Perp	+0.0348%	4h	314.02	+0.127%	$533K	$923K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0356%	1h	313.32	−0.096%	$15K	$1.8M	25x	as long as short
ApeX Omni TAOUSDT	+0.0400%	1h	314.32	+0.223%	$44K	$256K	50x	as long as short
BingX TAO-USDT	+0.0432%	4h	313.33	−0.092%	—	$33.7M	—	as long as short
Bybit TAOUSDT	+0.0432%	4h	313.22	−0.128%	$68.1M	$152.4M	50x	as long as short
Variational Omni TAO	+0.0449%	4h	314.04	+0.133%	$5.5M	$10.1M	—	as long as short
Extended TAO-USD	+0.0464%	1h	313.22	−0.126%	$897K	$2.4M	25x	as long as short
Arcus TAO-USD	+0.0483%	1h	313.66	+0.013%	$101K	$345K	5x	as long as short
Phoenix TAO	+0.0513%	1h	314.20	+0.185%	$313K	$713K	5x	as long as short
Reya TAORUSDPERPshort	+0.0697%	1h	313.33	−0.094%	$360	—	20x
01 Exchange TAOUSD	+0.0760%	1h	313.69	+0.022%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0800%	1h	313.63	+0.005%	$1.5M	$6.6M	5x	as long as short
Hyperliquid TAOlong	+0.0804%	1h	313.62	long leg	$91.7M	$109.0M	5x
Backpack TAO_USDC_PERP	+0.0819%	1h	313.62	0.000%	$311K	$890K	10x	as long as short
Coinbase International TAO-PERP-INTX	+0.0928%	1h	314.27	+0.207%	$1.5M	$6.8M	50x	as long as short
RISEx TAO/USDC	+0.0948%	1h	313.32	−0.095%	$453K	$649K	5x	as long as short
Injective TAO/USDC PERP	+0.3711%	1h	319.48	+1.869%	$23K	$2K	12x	as long as short