COIN Funding Rate — Coinbase tokenized stock perpetuals across 15 venues
Tokenized stock (xStock) perpetual · compared across 15 venues · net of estimated fees · updated every few minutesCOIN represents tokenized exposure to Coinbase shares (a Backed.fi xStock) traded as a perpetual. The perp, its funding and the underlying share are three different things — read the rate with liquidity and the backtest below.
Live annualized COIN perpetual funding across all 15 venues Perpia tracks. Right now COIN funding is positive on 11 and negative on 0, ranging from +32.2% on Bybit to +0.0% on Ostium — a spread of 32.2%. The widest delta-neutral trade is long Variational / short Bybit at 28.9% net APR.
COIN funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
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Build a route
any two of the 15 venuesThis is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.
Venues: pick the two legs
sorted by rate · 15 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| Bybit↗short | +32.2% | every 8h | |
| Sodex↗ | +25.8% | every 1h | |
| KuCoin↗ | +22.4% | every 8h | |
| Bitget↗ | +19.2% | every 8h | |
| trade.xyz↗ | +11.7% | every 1h | |
| Hyperliquid↗ | +11.5% | every 1h | |
| Vest↗ | +9.4% | every 1h | |
| OKX↗ | +8.3% | every 8h | |
| Ondo Perps | +5.5% | every 1h | |
| Arcus↗ | +4.4% | every 1h | |
| Lighter↗ | +3.5% | every 8h | |
| Variational↗long | +0.0% | every 8h | |
| Aster↗ | +0.0% | every 8h | |
| Gate.io↗ | +0.0% | every 8h | |
| Ostium↗ | +0.0% | every 1h |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Variational vs Bybit page. 54 pairs scanned for COIN.
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COIN — FAQ
Is COIN funding positive right now?
COIN perpetual funding is positive on 11 of 15 venues Perpia tracks. The highest is +32.2% on Bybit; the lowest is +0.0% on Ostium.
What is the best COIN funding arbitrage right now?
Go long Variational and short Bybit for about 28.9% net APR after fees — the widest delta-neutral COIN spread Perpia currently sees.
Which exchange has the highest COIN funding rate?
Bybit, at +32.2% annualized. Funding shifts continuously, so check the live table above before trading.
How COIN funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Related tokenized stocks
same catalogSee the full list on the tokenized stocks hub.