SIREN Funding Rate — live across 8 venues

Compared across 8 supported venues · net of estimated fees · updated every few minutes

Live annualized SIREN perpetual funding across all 8 venues Perpia tracks. Right now SIREN funding is positive on 7 and negative on 1, ranging from +393.6% on Bybit to -41.8% on Gate.io — a spread of 435.4%. The widest delta-neutral trade is long Gate.io / short Bybit at 431.0% net APR.

venues

paying positive

435.4%

funding spread

Best SIREN spread now

431.0%

net APR after fees

Long Gate.io→Short Bybit

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

SIREN funding trend & liquidity

168h of history

435.4%

current gross APR

42.6%

24h average

-89.4%

7-day average

$747K

pair OI · lower leg

$87K

24h 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.

SIREN funding rate history

30d · 6h buckets · 7 venues

465%0-64.1%

4 Aug3 Sep

SIREN — average across 7 venuesAsterBinanceBitgetKuCoin

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +86.4%. A break in a line means no data was recorded for that stretch, not a zero rate.

SIREN funding rate by venue

19 pairs scanned

Venue	Funding APR	Interval
Bybit ↗	+393.6%	4h
Bitget ↗	+57.2%	4h
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Aster ↗	+10.9%	1h
KuCoin ↗	+10.9%	4h
Gate.io ↗	-41.8%	4h

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 Gate.io vs Bybit page.

SIREN arbitrage — 30-day backtest

long Gate.io · short Bybit

-44.5%

backtested APR

−$366

historical net P&L on $10,000

4.37%

max drawdown

$10,000$9,634

30 days agostarting capital $10,000today

Over the last 30 days, holding long Gate.io / short Bybit would have produced -44.5% APR — versus the 431.0% the live spread implies right now (equity $10,000 → $9,634). 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 →

Loading SIREN backtest…

SIREN funding — FAQ

Is SIREN funding positive right now?

SIREN perpetual funding is positive on 7 of 8 venues Perpia tracks and negative on 1. The highest is +393.6% on Bybit; the lowest is -41.8% on Gate.io.

What is the best SIREN funding arbitrage right now?

Go long Gate.io and short Bybit for about 431.0% net APR after fees — the widest delta-neutral SIREN spread Perpia currently sees.

Which exchange has the highest SIREN funding rate?

Bybit, at +393.6% annualized. Funding shifts continuously, so check the live table above before trading.

How SIREN 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 SIREN

Markets also quoted on both Bybit and Gate.io — the same two exchanges you would already have funded for the SIREN trade.

See every spread between them on the Bybit vs Gate.io page.

Open the live scanner →All funding rates Funding by exchange How we calculate this