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+0.0624%/8h= +68.3% APRpaid last 24h +0.230%
Price spread now: Hyperliquid against Phemex+0.087%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs+$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
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)−0.113%−$11 · spread now +0.087%, 7d avg +0.079%
Together, before fees+0.760%+ Points / potential airdropHyperliquid: Season 2 · farm board+$76 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.079%, so right now this pair is about funding alone: +$19 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex TAOUSDT322.930.0100pay 0.0050% / 4h1h 55m$3.3M$8.1M50x
ShortHyperliquid TAO323.210.0724get 0.0091% / 1h55m 37s$95.6M$110.0M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Phemex. 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
$131.05
Price spread: +0.087% → +0.079%
$0.79
Slippage, 4 orders
−$39.75
Fee Phemex: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$71.1
Costs to cover
0.607%
Break-even
3.2 days
Slippage from Phemex: live order book, 3 min ago; Hyperliquid: live order book, 8 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 Phemex live order book, 3 min ago8.00 bp14.7 bp −$1541.6 bp −$416doesn't fitdoesn't fit
Sell Hyperliquid live order book, 8 min ago1.08 bp8.7 bp −$9doesn'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−0.1440%1h322.10−0.259%$171K$33310xas long as short
dYdX TAO-USD0.0000%1h322.84−0.029%$129K$85K5xas long as short
gTrade (Gains Network) TAO/USDL +0.0004% / S −0.0004%1h323.01+0.024%$21K150xas long as short
Popdex TAOUSDT+0.0096%1h322.28−0.201%$40K$690K20xas long as short
OKX TAO-USDT-SWAP+0.0100%8h322.40−0.164%$26.9M$129.4M50xas long as short
Gate TAO_USDT+0.0100%4h322.20−0.226%$14.2M$51.1M50xas long as short
KuCoin TAOUSDTM+0.0100%4h322.74−0.059%$17.7M$31.9M75xas long as short
Bitget TAOUSDT+0.0100%4h322.38−0.170%$36.3M$57.8M50xas long as short
ApeX Omni TAOUSDT+0.0100%1h324.34+0.437%$47K$258K50xas long as short
Polymarket Perps TAO-USD+0.0100%1h323.46+0.164%$76K$991K5xas long as short
Show all 43 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SunX TAO-USDT+0.0100%4h323.14+0.065%$1K$2.0M20xas long as short
HTX TAO-USDT+0.0100%4h322.80−0.040%$118K$583K20xas long as short
Phemex TAOUSDTlong+0.0100%4h322.93long leg$3.3M$8.1M50x
Katana Perps TAO-USD+0.0110%8h322.29−0.198%$731$969K5xas long as short
Orderly PERP_TAO_USDC+0.0120%4h323.47+0.167%$53K$292K10xas long as short
Aevo TAO-PERP+0.0120%1h323.73+0.248%$178K$9983xas long as short
GMX TAO/USD [WBTC.b-USDC]L +0.0124% / S +0.0144%1h322.90−0.008%$432K100xas long as short
Binance TAOUSDT+0.0154%4h322.11−0.255%$94.0M$522.9M75xas long as short
edgeX TAOUSDC+0.0156%4h324.58+0.512%$43K$315K10xas long as short
MEXC TAO_USDT+0.0156%4h322.45−0.149%$105.4M$148.9M300xas long as short
Paradex TAO-USD-PERP+0.0272%8h322.46−0.145%$15K$1K10xas long as short
Aster TAOUSDT+0.0313%4h322.01−0.284%$1.3M$10.8M50xas long as short
Bybit TAOUSDT+0.0366%4h322.02−0.282%$70.3M$155.4M50xas long as short
BingX TAO-USDT+0.0382%4h322.46−0.146%$34.3Mas long as short
BloFin TAO-USDT+0.0398%4h324.59+0.514%$4.7M$11.3M100xas long as short
Bullet TAO-USD+0.0417%1h323.30+0.115%$12K$17K20xas long as short
GRVT TAO_USDT_Perp+0.0460%4h323.74+0.249%$552K$937K10xas long as short
Extended TAO-USD+0.0488%1h322.53−0.122%$922K$2.4M25xas long as short
Variational Omni TAO+0.0506%4h323.50+0.176%$5.7M$10.1Mas long as short
Phoenix TAO+0.0513%1h324.40+0.455%$323K$709K5xas long as short
Pacifica TAO+0.0525%1h322.95+0.005%$367K$422K10xas long as short
Nado TAO-PERP+0.0550%1h323.55+0.193%$819K$2.2M10xas long as short
Deribit TAO_USDC-PERPETUAL+0.0604%1h323.69+0.237%$18K$1.9M25xas long as short
Arcus TAO-USD+0.0641%1h322.74−0.059%$104K$384K5xas long as short
Backpack TAO_USDC_PERP+0.0669%1h323.25+0.099%$322K$898K10xas long as short
Reya TAORUSDPERP+0.0698%1h323.46+0.165%$37220xas long as short
01 Exchange TAOUSD+0.0704%1h322.59−0.105%$3K$4K5xas long as short
Hyperliquid TAOshort+0.0724%1h323.21+0.087%$95.6M$110.0M5x
Coinbase International TAO-PERP-INTX+0.0944%1h323.39+0.142%$1.5M$6.9M50xas long as short
Lighter TAO+0.1008%1h322.96+0.009%$1.5M$6.6M5xas long as short
RISEx TAO/USDC+0.1077%1h322.38−0.169%$464K$652K5xas long as short
Kraken Futures PF_TAOUSD+0.1142%1h323.10+0.053%$6.1M$21.7M50xas long as short
Injective TAO/USDC PERP+0.4723%1h323.62+0.214%$24K$2K12xas long as short