COIN Funding Rate — Coinbase perpetuals across 11 venues
Equity-linked perpetual · net of fees · updated continuously
COIN (Coinbase) is a tokenized real-world asset traded as a perpetual future. Perpia compares its annualized funding across venues and shows whether the current spread is persistent or just a short-lived spike — the perp, its funding and the underlying asset are three different things, so read the rate together with liquidity and how long it has held.
Live annualized COIN perpetual funding across all 11 venues Perpia tracks. Right now COIN funding is positive on 6 and negative on 1, ranging from +39.2% on Hyperliquid to -3.8% on Variational — a spread of 43.0%. The widest delta-neutral trade is long Variational / short Hyperliquid at 40.0% net APR.
COIN funding rate by venue
29 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| Hyperliquid | +39.2% | 1h |
| trade.xyz | +38.9% | 1h |
| Bitget | +34.9% | 8h |
| Vest | +5.0% | 1h |
| Lighter | +3.5% | 8h |
| KuCoin | +0.8% | 8h |
| Aster | +0.0% | 8h |
| OKX | +0.0% | 8h |
| Bybit | +0.0% | 8h |
| Ostium | +0.0% | 1h |
| Variational | -3.8% | 8h |
Rates annualized; updated ~every few minutes from live venue data.
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COIN funding — FAQ
Is COIN funding positive right now?
COIN perpetual funding is positive on 6 of 11 venues Perpia tracks and negative on 1. The highest is +39.2% on Hyperliquid; the lowest is -3.8% on Variational.
What is the best COIN funding arbitrage right now?
Go long Variational and short Hyperliquid for about 40.0% net APR after fees — the widest delta-neutral COIN spread Perpia currently sees.
Which exchange has the highest COIN funding rate?
Hyperliquid, at +39.2% annualized. Funding shifts continuously, so check the live table above before trading.
How COIN funding arbitrage works
Funding-rate arbitrage is delta-neutral: you go long the venue paying the most negative funding and short the one paying the most positive, so price moves cancel and you collect the spread. The catch is liquidity — a huge APR on a thin book caps at a few thousand dollars and often flips within hours. Perpia shows the max size after slippage and tracks whether a spread holds, so you filter instead of chasing the number.
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