IWM Funding Rate — Russell 2000 ETF tokenized stock perpetuals across 8 venues
Tokenized stock (xStock) perpetual · compared across 8 venues · net of estimated fees · updated every few minutes
IWM is a perpetual linked to the Russell 2000 ETF index/ETF, traded on-chain as a tokenized xStock. Perpia compares its annualized funding across venues and the best delta-neutral spread.
Live annualized IWM perpetual funding across all 8 venues Perpia tracks. Right now IWM funding is positive on 1 and negative on 1, ranging from +5.0% on Vest to -5.8% on KuCoin — a spread of 10.8%. The widest delta-neutral trade is long KuCoin / short Vest at 6.9% net APR.
IWM 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.
IWM funding rate by venue
12 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| Vest↗ | +5.0% | 1h |
| Variational↗ | +0.0% | 8h |
| MEXC↗ | +0.0% | 8h |
| Bitget↗ | +0.0% | 8h |
| OKX↗ | +0.0% | 8h |
| Bybit↗ | +0.0% | 8h |
| Gate.io↗ | +0.0% | 8h |
| KuCoin↗ | -5.8% | 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 Vest page.
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IWM funding — FAQ
Is IWM funding positive right now?
IWM perpetual funding is positive on 1 of 8 venues Perpia tracks and negative on 1. The highest is +5.0% on Vest; the lowest is -5.8% on KuCoin.
What is the best IWM funding arbitrage right now?
Go long KuCoin and short Vest for about 6.9% net APR after fees — the widest delta-neutral IWM spread Perpia currently sees.
Which exchange has the highest IWM funding rate?
Vest, at +5.0% annualized. Funding shifts continuously, so check the live table above before trading.
How IWM 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
See the full list on the tokenized stocks hub.