Variational Funding Rates — live across 220 markets
PERP · 8h funding interval (majority) · paired against 31 other venues · updated every few minutesLive annualized funding for every Variational perpetual market Perpia scans. Right now 127 of 220 markets pay positive funding (longs pay shorts) and 34 pay negative, with a median of +6.1%. The widest delta-neutral spread involving Variational on a market with real depth is SOXL: long Lighter / short Variational at 419.6% 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 ↗
Variational funding rate history
last 30 days · annualizedOver the last 30 days SOXL on Variational averaged -0.0% annualized, ranging from -122.9% to +109.4%; funding was positive 32% of the time. Over the last 30 days DOOD on Variational averaged +11.3% annualized, ranging from +10.9% to +26.6%; funding was positive 100% of the time. Over the last 30 days ERA on Variational averaged -64.9% annualized, ranging from -500.0% to +12.8%; funding was positive 67% of the time. Rates are sampled per settlement and annualized, so venues on different intervals stay comparable. A market that spends most of its time on one side of zero is the one worth holding; a rate that crosses zero often pays only while you watch it.
Highest funding on Variational
longs pay shortsMost negative funding on Variational
shorts pay longsBest Variational funding spreads
1,201 pairs scanned · net of fees| Market | Long | Short | Net APR | Thin leg vol | Max size |
|---|---|---|---|---|---|
| ERA | KuCoin | Variational | 479.7% | $155K | — |
| ERA | Gate.io | Variational | 455.0% | $155K | — |
| ERA | Binance | Variational | 443.0% | $155K | — |
| ERA | MEXC | Variational | 442.8% | $155K | — |
| MEW | Variational | BingX | 434.8% | $62K | — |
| SOXL | Lighter | Variational | 419.6% | $4.8M | — |
| ERA | BingX | Variational | 419.2% | $155K | — |
| ERA | Aster | Variational | 418.8% | $155K | — |
| ERA | Bitget | Variational | 370.6% | $155K | — |
| CIEN | Paragon | Variational | 338.5% | $15K | — |
| DOOD | OKX | Variational | 292.8% | $324K | — |
| DOOD | BingX | Variational | 274.9% | $324K | — |
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
most shared markets firstThe 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 220 Variational perpetual markets Perpia tracks, the median annualized funding is +6.1%. 127 markets currently pay positive funding (longs pay shorts) and 34 pay negative. The highest is XPD at +115.7%.
How often does Variational pay funding?
Most Variational markets settle funding every 8 hours (138 of 220); 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 Lighter and short Variational on SOXL, worth about 419.6% 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.