PAYP Funding Rate — perpetuals across 3 venues
TradFi perpetual · compared across 3 venues · net of estimated fees · updated every few minutes
PAYP is an equity-linked perpetual referencing PAYP, traded on-chain (not a tokenized xStock). Perpia compares its annualized funding across venues and the best delta-neutral spread.
Live annualized PAYP perpetual funding across all 3 venues Perpia tracks. Right now PAYP funding is positive on 2 and negative on 0, ranging from +10.9% on Gate.io to +0.0% on Variational — a spread of 10.9%. The widest delta-neutral trade is long Variational / short Gate.io at 4.4% net APR.
PAYP funding trend & liquidity
5h 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.
PAYP funding rate by venue
2 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| Gate.io | +10.9% | 8h |
| KuCoin | +10.9% | 8h |
| Variational | +0.0% | 8h |
Rates annualized; updated ~every few minutes from live venue data.
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PAYP funding — FAQ
Is PAYP funding positive right now?
PAYP perpetual funding is positive on 2 of 3 venues Perpia tracks. The highest is +10.9% on Gate.io; the lowest is +0.0% on Variational.
What is the best PAYP funding arbitrage right now?
Go long Variational and short Gate.io for about 4.4% net APR after fees — the widest delta-neutral PAYP spread Perpia currently sees.
Which exchange has the highest PAYP funding rate?
Gate.io, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.
How PAYP 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.