What is Bittensor?
Bittensor is a decentralized network for machine learning, split into subnets that each focus on a task such as text generation or data scraping. Participants who provide useful models or work earn TAO, the network's native token. TAO is also staked to validators and subnets, and is used to register and govern subnets.
The TAO perpetual tracks the price of Bittensor, settles in USDC and never expires. It trades on Hyperliquid's main exchange. You can go long or short with up to 5× leverage, around the clock.
Contract details
- Market
TAO, main exchange- Tracks
- The price of Bittensor
- Settlement
- USDC, no expiry
- Leverage
- 5× at any size
- Margin
- Cross or isolated
- Size step
- 0.001 TAO
- Funding
- Paid every hour
- Fees on Hypurr Desk
- 0.07% market, 0.04% limit
- Trading hours
- Around the clock, every day
Size a TAO trade from its stop
Hypurr Desk asks where your stop goes and how much of your account you are willing to lose there, then works out the size. An example at 238.60, from when this page was built:
- Account
- $1,000.00
- Risk
- 1% = $10.00
- Stop
- 2% below entry, at 233.83
- Size
- 1.961 TAO ($467.88)
- Loss at the stop, fees included
- $10.00
- Leverage
- 5× cross, $93.58 margin
The stop sets the loss, not the leverage: leverage only decides how much margin the position ties up. Move the stop and the size follows, so a wider stop means a smaller position and the same loss. The stop is placed on the exchange with the entry. How risk sizing works.
Questions about TAO
What is the maximum leverage on TAO?
5×. Hypurr Desk sizes each order from your stop, so the leverage follows from how much you choose to risk.
How often is funding paid on TAO?
Every hour. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. The current rate is shown at the top of this page.
What does it cost to trade TAO on Hypurr Desk?
At the exchange's base tier, 0.07% of the position value for market orders and 0.04% for limit orders that rest on the book, including the 0.025% Hypurr Desk fee. There is no subscription and no sign-up.
Do I own TAO when I trade this market?
No. A perpetual tracks the price of Bittensor and settles gains and losses in USDC. You never hold the coins, and positions can be closed out if losses use up their margin.
