USO Funding Rate — perpetuals across 4 venues
TradFi perpetual · compared across 4 venues · net of estimated fees · updated every few minutesUSO is an equity-linked perpetual referencing USO, traded on-chain (not a tokenized xStock). Perpia compares its annualized funding across venues and the best delta-neutral spread.
Live annualized USO perpetual funding across all 4 venues Perpia tracks. Right now USO funding is positive on 1 and negative on 3, ranging from +5.0% on Vest to -145.3% on Arcus — a spread of 150.3%. The widest delta-neutral trade is long Arcus / short Vest at 147.1% net APR.
USO 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.
Loading USO rate history…
Build a route
any two of the 4 venuesThis 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 · 4 venuesRates 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 Arcus vs Vest page. 5 pairs scanned for USO.
USO arbitrage — 30-day backtest
long Arcus · short VestOver the last 30 days, holding long Arcus / short Vest would have produced 20.4% APR — versus the 147.1% the live spread implies right now (equity $10,000 → $10,168). 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 →USO — FAQ
Is USO funding positive right now?
USO perpetual funding is positive on 1 of 4 venues Perpia tracks and negative on 3. The highest is +5.0% on Vest; the lowest is -145.3% on Arcus.
What is the best USO funding arbitrage right now?
Go long Arcus and short Vest for about 147.1% net APR after fees — the widest delta-neutral USO spread Perpia currently sees.
Which exchange has the highest USO funding rate?
Vest, at +5.0% annualized. Funding shifts continuously, so check the live table above before trading.
How USO 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 USO
also quoted on both Arcus and VestThe same two exchanges you would already have funded for the USO trade. Every spread between them is on the Arcus vs Vest page.