Spreads, squeezed fresh from the venues.

Funding scanner

Live funding rates from each venue, as a yearly rate. Positive means longs pay shorts.

A spread is not a promise: rates change every hour, and fees, price gaps and thin markets can cancel it. Volume in amber means under $1M a day on one side.

Pick a venue with live points. Each pair shows the fees for $10K of volume there, and what the position really earned or lost over the last 7 days.

This compares cost only. Points per dollar are not public, so check each season’s rules. Slippage and price moves are not included.

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000 match your filtersBTC funding +00.0% median, yearly
Funding: a fee that longs and shorts on a perp pay each other every hour or 8 hours to keep its price near the spot price. Positive means longs pay shorts.
  
How this trade works
  1. Two venues pay different funding on the same asset.
  2. Short it where the rate is higher and go long the same size where it is lower. Each side is called a leg. Price moves on the two legs cancel out.
  3. Collect the difference at each payout, then close both legs. Taker fees are charged when you open and when you close.
  4. It can still lose: rates flip, the two prices drift apart, and a leg can be liquidated if its margin runs out.
Listed on
Size per leg
Shows a market only if this size is at most 1% of its 24h volume and 5% of its open interest, so you can get in and out near the shown price.
Hold
Fees
Taker: market orders fill at once. Maker: limit orders wait in the book, pay less or nothing, and may not fill, which leaves you unhedged. Base tier fees on both legs.
Markets
RWA: stocks, indices, ETFs, commodities and FX, as the venues class them.
Funding pairs: asset, short and long legs with their rates, volume and price gap, spread, what the pair paid over 7 days, and net after fees.

Venue buttons go through our links. If a venue gives us a referral, you get the benefit shown on its page and we may earn a share.

How it works

Each row shows the venue pair that earns the most after fees over the holding period you pick: short where funding is higher, long where it is lower. Spread is the yearly rate that pair collects. Net takes off the taker fees to open and close both legs (four fills at each venue’s base fee; some venues, such as Lighter Standard accounts, Paradex app orders and Variational, charge none), spread over the holding period. A pair with no fees can beat a wider spread, so the pair can change with the hold. Slippage and price moves are not included, and rates change every hour. Size per leg hides markets where your size is over 1% of the 24h volume or 5% of the open interest. Most venues pay every hour; Aster and Variational pay every 1 to 8 hours depending on the market, Paradex and Reya continuously. The pair’s window shows each leg’s schedule. Tickers are matched by name, so check it is the same market on both venues. Not financial advice.

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Listed on

Venues

Switch off a venue you cannot use: pairs are worked out without it. Remembered in this browser.

Size per leg

Shows a market only if this size is at most 1% of its 24h volume and 5% of its open interest, so you can get in and out near the shown price.

Fees

Taker: market orders fill at once. Maker: limit orders wait in the book, pay less or nothing, and may not fill, which leaves you unhedged. Base tier fees on both legs.

Hold

Markets

RWA: stocks, indices, ETFs, commodities and FX, as the venues class them.