Funding spread
The difference between the venue where longs pay the most and the venue where they pay the least (or are paid), for the same coin at the same time.
Definition
The difference between the venue where longs pay the most and the venue where they pay the least (or are paid), for the same coin at the same time.
In one sentence: Funding spread: highest minus lowest annualised funding of the same coin across venues. A difference between published rates, not an executable return (fees, price moves, different funding times).
Current data · all markets
no data yet| coin | highest | lowest | spread (APR) |
|---|---|---|---|
| AKE | Binance −2,197.0% | Bybit −4,380.0% | 2,183.0% |
| SKHYNIX | Bybit +220.7% | Binance 0.0% | 220.7% |
| EVAA | Bybit +140.9% | Binance +25.3% | 115.6% |
| AERO | Hyperliquid +11.0% | Bybit −80.3% | 91.2% |
| LIT | Hyperliquid +11.0% | Bybit −63.2% | 74.1% |
| SNXX | Binance +65.0% | Bybit 0.0% | 65.0% |
| VVV | Hyperliquid +11.0% | Binance −37.2% | 48.2% |
| TRX | Binance +5.5% | Hyperliquid −40.7% | 46.3% |
From the data shown above: First row: AKE, highest Binance −2,197.0%, lowest Bybit −4,380.0%, spread (APR) 2,183.0%.
How we compute it
Formula
spread (APR) = highest APR − lowest APR of the same coin
per day = spread APR ÷ 365- Computed from the current funding of every enabled venue that lists the coin; also shown per day (APR ÷ 365).
- Thin markets are listed last (the smaller open interest of the two legs is shown).
How to read it
- A large spread means the venues’ crowds are positioned differently.
- It narrows when positioning converges or funding resets.
Common mistakes
- Reading the spread as profit. Fees, price moves between venues and different funding times are not in it.
- Ignoring the smaller leg. A spread on a thin market may not be tradable in size; the smaller open interest of the two legs is shown for that reason.
Honest limits
- A difference between published rates, not an executable return: fees, price moves and different funding times are not included.
Questions and answers
Is a funding spread a risk-free return?
No. It is the difference between published rates. Trading fees, price moves between the two venues and their different funding times are not included.
Use it live
Step by step
API
Every key uses the data of its plan; see the developer docs for parameters and examples. Developers · API docs
Plan availability
- Free: every coin, current values and 30 days of history.
- Pro and above: history up to 1095 days, CSV export.
- API: free developer key (10/min, 1,000/day, free-tier data, non-commercial) · API Dev and above (60/min, 50,000/day).
Terms defined here
Funding spread
Methodology. Facts from public data. Not investment advice. · Report incorrect data