US500 Funding Rate — perpetuals across 7 venues
TradFi perpetual · compared across 7 venues · net of estimated fees · updated every few minutesUS500 is a perpetual linked to the US500 index/ETF. Perpia compares its annualized funding across venues and the best delta-neutral spread.
Live annualized US500 perpetual funding across all 7 venues Perpia tracks. Right now US500 funding is positive on 3 and negative on 1, ranging from +5.5% on Ondo Perps to -29.3% on Markets by Kinetiq — a spread of 34.8%. The widest delta-neutral trade is long Markets by Kinetiq / short Variational at 27.3% net APR.
US500 funding trend & liquidity
168h 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.
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Build a route
any two of the 7 venuesThis route is 6 pp below the widest one right now (Markets by Kinetiq → Ondo Perps). 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 · 7 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| Ondo Perps | +5.5% | every 1h | |
| Sodex↗ | +5.5% | every 1h | |
| Paradex↗ | +5.5% | every 8h | |
| Variational↗short | +0.0% | every 8h | |
| Lighter↗ | +0.0% | every 8h | |
| OKX↗ | +0.0% | every 8h | |
| below — these venues pay the longs: this is the leg you buy | |||
| Markets by Kinetiq↗long | −29.3% | every 1h | |
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 Markets by Kinetiq vs Variational page. 7 pairs scanned for US500.
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US500 — FAQ
Is US500 funding positive right now?
US500 perpetual funding is positive on 3 of 7 venues Perpia tracks and negative on 1. The highest is +5.5% on Ondo Perps; the lowest is -29.3% on Markets by Kinetiq.
What is the best US500 funding arbitrage right now?
Go long Markets by Kinetiq and short Variational for about 27.3% net APR after fees — the widest delta-neutral US500 spread Perpia currently sees.
Which exchange has the highest US500 funding rate?
Ondo Perps, at +5.5% annualized. Funding shifts continuously, so check the live table above before trading.
How US500 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 US500
with the widest spreads on VariationalThe same two exchanges you would already have funded for the US500 trade.