GME Funding Rate — GameStop tokenized stock perpetuals across 7 venues

Tokenized stock (xStock) perpetual · compared across 7 venues · net of estimated fees · updated every few minutes

GME represents tokenized exposure to GameStop 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 GME perpetual funding across all 7 venues Perpia tracks. Right now GME funding is positive on 3 and negative on 0, ranging from +39.6% on trade.xyz to +0.0% on Variational — a spread of 39.6%. The widest delta-neutral trade is long KuCoin / short trade.xyz at 33.9% net APR.

7venues

3paying positive

39.6%funding spread

Best GME spread now

33.9%

net APR after fees

LongKuCoin↗→Shorttrade.xyz↗

size depends on live venue depth — see the real cap in the scanner

GME funding trend & liquidity

168h of history

39.6%current gross APR

-2.6%24h average

4.5%7-day average

$65Kpair OI · lower leg

$786K24h volume · lower leg

Averages 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.

GME · KuCoin → trade.xyz — no history

Loading GME rate history…

Build a route

any two of the 7 venues

Long (pays you)every 8hShort (you collect)every 1h

Gross spread+39.6%+$10.86 / day on $10,000

Widest routes

This 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 · 7 venues

Venue	Funding APR ↓	Interval
trade.xyz↗short	+39.6%	every 1h
Hyperliquid↗	+35.9%	every 1h
Arcus↗	+14.3%	every 1h
KuCoin↗long	+0.0%	every 8h
Bitget↗	+0.0%	every 8h
OKX↗	+0.0%	every 8h
Variational↗	+0.0%	every 8h

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 KuCoin vs trade.xyz page. 14 pairs scanned for GME.

GME arbitrage — 30-day backtest

long KuCoin · short trade.xyz

5.6%backtested APR

+$46historical net P&L on $10,000

0.09%max drawdown

$10,000$10,046

30 days agostarting capital $10,000today

Over the last 30 days, holding long KuCoin / short trade.xyz would have produced 5.6% APR — versus the 33.9% the live spread implies right now (equity $10,000 → $10,046). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

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GME — FAQ

Is GME funding positive right now?

GME perpetual funding is positive on 3 of 7 venues Perpia tracks. The highest is +39.6% on trade.xyz; the lowest is +0.0% on Variational.

What is the best GME funding arbitrage right now?

Go long KuCoin and short trade.xyz for about 33.9% net APR after fees — the widest delta-neutral GME spread Perpia currently sees.

Which exchange has the highest GME funding rate?

trade.xyz, at +39.6% annualized. Funding shifts continuously, so check the live table above before trading.

How GME 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.

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