STABLE Funding Rate — live across 13 venues

Compared across 13 supported venues · net of estimated fees · updated every few minutes

Live annualized STABLE perpetual funding across all 13 venues Perpia tracks. Right now STABLE funding is positive on 13 and negative on 0, ranging from +89.9% on BackPack to +10.5% on Lighter — a spread of 79.3%. The widest delta-neutral trade is long MEXC / short BackPack at 74.1% net APR.

venues

paying positive

79.3%

funding spread

Best STABLE spread now

74.1%

net APR after fees

Long MEXC→Short BackPack

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

STABLE funding trend & liquidity

168h of history

78.9%

current gross APR

10.6%

24h average

40.2%

7-day average

$12K

pair OI · lower leg

$13K

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.

STABLE funding rate history

30d · 6h buckets · 12 venues

301%0-516.3%

6 Aug5 Sep

STABLE — average across 12 venuesAsterBackPackExtendedHyperliquid

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: -59.9%. A break in a line means no data was recorded for that stretch, not a zero rate.

STABLE funding rate by venue

12 pairs scanned

Venue	Funding APR	Interval
BackPack ↗	+89.9%	1h
Extended ↗	+11.4%	1h
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
BingX ↗	+10.9%	4h
OKX ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Aster ↗	+10.9%	4h
Hyperliquid ↗	+10.9%	1h
Lighter ↗	+10.5%	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 MEXC vs BackPack page.

STABLE arbitrage — 30-day backtest

long MEXC · short BackPack

-17.9%

backtested APR

−$147

historical net P&L on $10,000

2.72%

max drawdown

$10,000$9,853

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short BackPack would have produced -17.9% APR — versus the 74.1% the live spread implies right now (equity $10,000 → $9,853). 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 STABLE backtest…

STABLE funding — FAQ

Is STABLE funding positive right now?

STABLE perpetual funding is positive on 13 of 13 venues Perpia tracks. The highest is +89.9% on BackPack; the lowest is +10.5% on Lighter.

What is the best STABLE funding arbitrage right now?

Go long MEXC and short BackPack for about 74.1% net APR after fees — the widest delta-neutral STABLE spread Perpia currently sees.

Which exchange has the highest STABLE funding rate?

BackPack, at +89.9% annualized. Funding shifts continuously, so check the live table above before trading.

How STABLE 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 STABLE

Markets also quoted on both BackPack and MEXC — the same two exchanges you would already have funded for the STABLE trade.

See every spread between them on the BackPack vs MEXC page.

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