TAO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0357%/8h= +39.1% APRnext payment +$0.45 per $10,000 · paid last 24h +0.230%

Price spread now: Hyperliquid against Popdex+0.278%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on Popdex Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.376%+$38 on $10k

Price spread, last 4 days (all we have)−0.274%−$27 · spread now +0.278%, 7d avg +0.088%

Together, before fees+0.102%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Hyperliquid is 0.191% dearer against Popdex than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex TAOUSDT	310.85	0.0096	pay 0.0012% / 1h	27m 38s	$46K	$656K	20x
Short	Hyperliquid TAO	311.71	0.0453	get 0.0057% / 1h	27m 38s	$91.7M	$107.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Popdex. 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 PopdexbpFee HyperliquidbpOrdersPrice spread, now +0.278%Rate

Funding earned: $75
Price spread: +0.278% → +0.088%: $19.06
Slippage, 4 orders: −$20.07
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $58.59
Costs to cover: 0.355%
Break-even: 1.5 days

Slippage from Popdex: live order book, 26 min ago; Hyperliquid: live order book, 6 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 Popdex live order book, 26 min ago	1.75 bp	10.4 bp −$10	86.8 bp −$868	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.96 bp	7.7 bp −$8	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
Kraken Futures PF_TAOUSD	−0.0348%	1h	311.73	+0.285%	$5.5M	$20.6M	50x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	311.51	+0.213%	$20K	—	150x	as long as short
dYdX TAO-USD	+0.0015%	1h	310.67	−0.059%	$124K	$85K	5x	as long as short
Popdex TAOUSDTlong	+0.0096%	1h	310.85	long leg	$46K	$656K	20x
Katana Perps TAO-USD	+0.0098%	8h	310.59	−0.084%	$2K	$837K	5x	as long as short
Pacifica TAO	+0.0100%	1h	311.05	+0.064%	$354K	$414K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	310.81	−0.014%	$89.0M	$500.4M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	310.98	+0.042%	$66.9M	$150.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	310.90	+0.016%	$25.9M	$120.3M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	310.50	−0.113%	$13.2M	$50.0M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	310.72	−0.042%	$101.7M	$144.8M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	310.71	−0.045%	$17.6M	$31.3M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	310.48	−0.119%	$34.7M	$56.4M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	310.73	−0.039%	—	$33.4M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	312.06	+0.388%	$41K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	311.97	+0.359%	$530K	$956K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	312.03	+0.380%	$46K	$254K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	311.78	+0.299%	$79K	$901K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	311.89	+0.333%	$11K	$18K	20x	as long as short
SunX TAO-USDT	+0.0100%	4h	311.59	+0.238%	$1K	$1.9M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	311.84	+0.318%	$109K	$539K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	311.85	+0.320%	$171K	$998	3x	as long as short
Aster TAOUSDT	+0.0114%	4h	310.71	−0.046%	$1.3M	$10.4M	50x	as long as short
Orderly PERP_TAO_USDC	+0.0117%	4h	311.78	+0.299%	$51K	$291K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0138% / S +0.0134%	1h	311.56	+0.227%	$414K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0138%	8h	310.82	−0.010%	$14K	$1K	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	311.04	+0.061%	$101K	$397K	5x	as long as short
Phemex TAOUSDT	+0.0242%	4h	311.52	+0.216%	$3.2M	$8.0M	50x	as long as short
Bulk TAO-USD	+0.0264%	1h	312.41	+0.502%	$166K	$333	10x	as long as short
Extended TAO-USD	+0.0288%	1h	310.68	−0.054%	$909K	$2.4M	25x	as long as short
Variational Omni TAO	+0.0308%	4h	312.74	+0.608%	$5.5M	$10.0M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	311.95	+0.354%	$4.5M	$10.7M	100x	as long as short
Nado TAO-PERP	+0.0349%	1h	312.04	+0.384%	$791K	$2.2M	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0371%	1h	311.80	+0.305%	$17K	$1.8M	25x	as long as short
Hyperliquid TAOshort	+0.0453%	1h	311.71	+0.278%	$91.7M	$107.7M	5x
Phoenix TAO	+0.0457%	1h	312.60	+0.563%	$311K	$711K	5x	as long as short
01 Exchange TAOUSD	+0.0480%	1h	310.97	+0.039%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.0493%	1h	311.58	+0.235%	$310K	$885K	10x	as long as short
Lighter TAO	+0.0568%	1h	311.40	+0.177%	$1.5M	$6.5M	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	311.88	+0.332%	$359	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	310.79	−0.021%	$442K	$657K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	312.46	+0.518%	$1.5M	$6.8M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	314.53	+1.184%	$23K	$2K	12x	as long as short