Variational Funding Rates — live across 203 markets
PERP · 8h funding interval (majority) · paired against 28 other venues · updated every few minutes
Live annualized funding for every Variational perpetual market Perpia scans. Right now 88 of 203 markets pay positive funding (longs pay shorts) and 25 pay negative, with a median of +0.0%. The widest delta-neutral spread involving Variational on a market with real depth is PONS: long Variational / short OKX at 314.0% net APR.
Variational at a glance
venue registryFees are the venue's published default tiers — the ones Perpia uses when a market has no per-market override. Volume and open interest are venue-wide, not per market. Variational website ↗
Highest funding on Variational
longs pay shorts| Market | Funding APR | Interval |
|---|---|---|
| BNC | +545.6% | 8h |
| XVG | +181.2% | 8h |
| 4 | +166.8% | 4h |
| USELESS | +120.4% | 4h |
| ARCSOL | +87.9% | 4h |
| XMR | +79.4% | 8h |
| VVV | +49.1% | 4h |
| EDGE | +27.0% | 4h |
| PONS | +10.9% | 4h |
| VELODROME | +10.9% | 4h |
| CASHCAT | +10.9% | 4h |
| MINA | +10.9% | 4h |
Most negative funding on Variational
shorts pay longs| Market | Funding APR | Interval |
|---|---|---|
| ONG | -499.1% | 1h |
| ACE | -370.4% | 4h |
| CAP | -331.4% | 4h |
| FLOCK | -259.0% | 4h |
| ZORA | -137.7% | 4h |
| XCN | -88.8% | 4h |
| STX | -65.9% | 8h |
| S | -47.7% | 4h |
| WLFI | -33.4% | 4h |
| HBAR | -23.6% | 8h |
| APT | -21.5% | 8h |
| JST | -15.9% | 8h |
Best Variational funding spreads
966 pairs scanned · net of fees| Market | Long | Short | Net APR | 24h vol · lower leg | Max size |
|---|---|---|---|---|---|
| AKE | Aster | Variational | 407.4% | $253K | — |
| AKE | MEXC | Variational | 332.4% | $253K | — |
| AKE | Binance | Variational | 327.4% | $253K | — |
| PONS | Variational | OKX | 314.0% | $6.9M | — |
| BNC | Bybit | Variational | 222.7% | $63K | — |
| VELODROME | Variational | Bitget | 196.1% | $14K | — |
| FLOCK | Variational | BingX | 179.8% | $873K | — |
| CASHCAT | Variational | Lighter | 171.6% | $1.2M | — |
| CAP | Binance | Variational | 168.3% | $37K | — |
| PONS | Variational | Aster | 166.2% | $6.9M | — |
| XVG | Bitget | Variational | 163.6% | $10K | — |
| MINA | Hyperliquid | Variational | 153.1% | $77K | — |
Net APR is the gross funding spread minus entry and exit fees, both legs' bid/ask spread and estimated slippage. “Max size” is shown only where real order-book depth was available; a dash means the cap is a placeholder, not a measurement.
Variational versus other exchanges
The exchanges Variational currently shares the most markets with. Each pair has its own page with the live spread between the two.
Variational funding — FAQ
What is the funding rate on Variational right now?
Across the 203 Variational perpetual markets Perpia tracks, the median annualized funding is +0.0%. 88 markets currently pay positive funding (longs pay shorts) and 25 pay negative. The highest is BNC at +545.6%.
How often does Variational pay funding?
Most Variational markets settle funding every 8 hours (130 of 203); the rest use 4h / 1h. Perpia annualizes every rate, so intervals do not distort the comparison.
What is the best Variational funding arbitrage right now?
Long Variational and short OKX on PONS, worth about 314.0% net APR after estimated fees — the widest delta-neutral spread involving Variational on a market with at least $1M of 24h volume on the smaller leg in the current snapshot.
How to read a venue funding rate
Funding is a recurring payment between the long and short side of a perpetual, set by each venue from its own perp-versus-spot basis. A positive rate means longs pay shorts. Because every exchange computes it independently — different intervals, clamps and premium windows — the same market can pay positive funding here and negative elsewhere, which is what a delta-neutral funding trade harvests. Perpia annualizes every rate so venues on 1h, 4h and 8h intervals are directly comparable. See the methodology for the exact calculation.