SOFTBANK Funding Rate — live across 3 venues

Compared across 3 supported venues · net of estimated fees · updated every few minutes

Live annualized SOFTBANK perpetual funding across all 3 venues Perpia tracks. Right now SOFTBANK funding is positive on 2 and negative on 0, ranging from +132.9% on trade.xyz to +0.0% on OKX — a spread of 132.9%. The widest delta-neutral trade is long OKX / short Hyperliquid at 110.9% net APR.

venues

paying positive

132.9%

funding spread

Best SOFTBANK spread now

110.9%

net APR after fees

Long OKX→Short Hyperliquid

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

SOFTBANK funding trend & liquidity

168h of history

132.5%

current gross APR

11.5%

24h average

46.1%

7-day average

$51K

pair OI · lower leg

$56K

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.

SOFTBANK funding rate history

30d · 6h buckets · 3 venues

571%0-463.6%

6 Aug5 Sep

SOFTBANK — average across 3 venuesOKXtrade.xyzHyperliquid

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: +36.9%. A break in a line means no data was recorded for that stretch, not a zero rate.

SOFTBANK funding rate by venue

2 pairs scanned

Venue	Funding APR	Interval
trade.xyz ↗	+132.9%	1h
Hyperliquid ↗	+132.5%	1h
OKX ↗	+0.0%	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 OKX vs Hyperliquid page.

SOFTBANK arbitrage — 30-day backtest

long OKX · short Hyperliquid

41.4%

backtested APR

+$340

historical net P&L on $10,000

0.67%

max drawdown

$10,000$10,340

30 days agostarting capital $10,000today

Over the last 30 days, holding long OKX / short Hyperliquid would have produced 41.4% APR — versus the 110.9% the live spread implies right now (equity $10,000 → $10,340). 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 SOFTBANK backtest…

SOFTBANK funding — FAQ

Is SOFTBANK funding positive right now?

SOFTBANK perpetual funding is positive on 2 of 3 venues Perpia tracks. The highest is +132.9% on trade.xyz; the lowest is +0.0% on OKX.

What is the best SOFTBANK funding arbitrage right now?

Go long OKX and short Hyperliquid for about 110.9% net APR after fees — the widest delta-neutral SOFTBANK spread Perpia currently sees.

Which exchange has the highest SOFTBANK funding rate?

trade.xyz, at +132.9% annualized. Funding shifts continuously, so check the live table above before trading.

How SOFTBANK 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 SOFTBANK

Markets also quoted on both Hyperliquid and OKX — the same two exchanges you would already have funded for the SOFTBANK trade.

See every spread between them on the Hyperliquid vs OKX page.

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