Annualized perpetual funding across ten venues, refreshed every few minutes from our own collectors — not a third-party feed. Green is the cheapest venue to be long (or the one paying you); red is the most expensive. The spread column is what a delta-neutral carry position would collect before fees.
| Asset | Binance | Bitget | Bybit | Deribit | Gate | HTX | Hyperliquid | Kraken | KuCoin | OKX | Spread |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVAX | +7.5% | +8.8% | +7.6% | — | +2.6% | +10.9% | +10.9% | -8.5% | +2.0% | +10.9% | 19.4% |
| BTC | +10.9% | +10.9% | +10.9% | +8.6% | +10.9% | +10.9% | +10.9% | +2.6% | +7.5% | +10.9% | 8.3% |
| DOGE | +10.9% | +10.9% | +10.9% | — | +9.5% | +10.9% | +10.9% | +7.0% | +10.9% | +10.9% | 4.0% |
| ETH | +8.9% | +1.1% | +2.4% | 0.0% | +1.6% | -8.3% | +10.9% | -0.9% | +1.6% | +3.9% | 19.2% |
| INJ | +4.6% | +10.9% | +10.9% | — | +10.9% | +10.9% | +10.9% | +21.7% | +10.9% | +10.9% | 17.1% |
| NEAR | +2.1% | +10.9% | -21.3% | — | -10.7% | +10.9% | +10.9% | -11.9% | +19.3% | +5.9% | 40.5% |
| SOL | +10.9% | +10.9% | +4.5% | — | +3.3% | +10.9% | +10.9% | -6.1% | +10.9% | +7.5% | 17.0% |
| SUI | +10.9% | +10.9% | +6.3% | — | +4.6% | +10.9% | +10.9% | +8.3% | +10.2% | +10.9% | 6.3% |
| XRP | +10.2% | +10.9% | +10.9% | — | +9.2% | +10.9% | +10.9% | +4.5% | +10.9% | +4.0% | 7.0% |
Annualized from each venue's current funding interval. Updated 22:24 UTC · refreshes ~5 min.
A wide spread looks like free money: long the venue where funding is negative, short where it's positive, collect both sides. The honest caveats are that funding mean-reverts hard (today's 20% annualized spread is rarely next week's), execution costs two spreads plus fees on two venues, and the legs can be liquidated independently. Carry trades are real, but they are a business with overhead — not passive yield.
The more durable use of this table is as a positioning signal: extreme funding on one venue tells you which side of the boat is crowded there. In our own weekly robustness scans, cross-venue mean funding is a stable input — Lumen tracks it continuously, and the funding calculator turns any of these rates into a real holding cost.
Think there's a tradable edge in funding? Turn it into a rule and get an honest verdict on out-of-sample data.
Grade the idea — free