ERA Funding Rate — live across 9 venues
Perpetual funding · compared across 9 venues · net of estimated fees · updated every few minutesLive annualized ERA perpetual funding across all 9 venues Perpia tracks. Right now ERA funding is positive on 2 and negative on 7, ranging from +10.9% on Variational to -537.0% on KuCoin — a spread of 547.9%. The widest delta-neutral trade is long MEXC / short Variational at 443.9% net APR.
ERA 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 9 venuesThis route is 102 pp below the widest one right now (KuCoin → Variational). 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 · 9 venuesRates 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 MEXC vs Variational page. 29 pairs scanned for ERA.
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ERA — FAQ
Is ERA funding positive right now?
ERA perpetual funding is positive on 2 of 9 venues Perpia tracks and negative on 7. The highest is +10.9% on Variational; the lowest is -537.0% on KuCoin.
What is the best ERA funding arbitrage right now?
Go long MEXC and short Variational for about 443.9% net APR after fees — the widest delta-neutral ERA spread Perpia currently sees.
Which exchange has the highest ERA funding rate?
Variational, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.
How ERA 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.
Markets related to ERA
also quoted on both MEXC and VariationalThe same two exchanges you would already have funded for the ERA trade. Every spread between them is on the MEXC vs Variational page.