TLT Funding Rate — live across 5 venues

Perpetual funding · compared across 5 venues · net of estimated fees · updated every few minutes

Live annualized TLT perpetual funding across all 5 venues Perpia tracks. Right now TLT funding is positive on 2 and negative on 0, ranging from +5.5% on Hyperliquid to +0.0% on MEXC — a spread of 5.5%. The widest delta-neutral trade is long Bybit / short Hyperliquid at 1.9% net APR.

5venues

2paying positive

5.5%funding spread

Best TLT spread now

1.9%

net APR after fees

LongBybit↗→ShortHyperliquid↗

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

TLT funding trend & liquidity

168h of history

5.5%current gross APR

4.8%24h average

19.6%7-day average

$891Kpair OI · lower leg

$39K24h 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.

TLT · Bybit → Hyperliquid — no history

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Build a route

any two of the 5 venues

Long (pays you)every 8hShort (you collect)every 1h

Gross spread+5.5%+$1.50 / day on $10,000

Widest routes

This is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.

Venues: pick the two legs

sorted by rate · 5 venues

Venue	Funding APR ↓	Interval
Hyperliquid↗short	+5.5%	every 1h
trade.xyz↗	+5.5%	every 1h
Bybit↗long	+0.0%	every 8h
Bitget↗	+0.0%	every 8h
MEXC↗	+0.0%	every 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 Bybit vs Hyperliquid page. 4 pairs scanned for TLT.

TLT arbitrage — 30-day backtest

long Bybit · short Hyperliquid

-18.2%backtested APR

−$150historical net P&L on $10,000

2.14%max drawdown

$10,000$9,850

30 days agostarting capital $10,000today

Over the last 30 days, holding long Bybit / short Hyperliquid would have produced -18.2% APR — versus the 1.9% the live spread implies right now (equity $10,000 → $9,850). 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 →

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TLT — FAQ

Is TLT funding positive right now?

TLT perpetual funding is positive on 2 of 5 venues Perpia tracks. The highest is +5.5% on Hyperliquid; the lowest is +0.0% on MEXC.

What is the best TLT funding arbitrage right now?

Go long Bybit and short Hyperliquid for about 1.9% net APR after fees — the widest delta-neutral TLT spread Perpia currently sees.

Which exchange has the highest TLT funding rate?

Hyperliquid, at +5.5% annualized. Funding shifts continuously, so check the live table above before trading.

How TLT 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 TLT

also quoted on both Bybit and Hyperliquid

The same two exchanges you would already have funded for the TLT trade. Every spread between them is on the Bybit vs Hyperliquid page.

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