WTI Funding Rate — perpetuals across 6 venues

TradFi perpetual · compared across 6 venues · net of estimated fees · updated every few minutes

WTI is a commodity-linked perpetual referencing WTI. Its price tracks the commodity, not an equity.

Live annualized WTI perpetual funding across all 6 venues Perpia tracks. Right now WTI funding is positive on 6 and negative on 0, ranging from +48.2% on Extended to +0.2% on GMTrade — a spread of 48.0%. The widest delta-neutral trade is long GMTrade / short Extended at 43.5% net APR.

venues

paying positive

48.0%

funding spread

Best WTI spread now

43.5%

net APR after fees

Long GMTrade→Short Extended

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

WTI funding trend & liquidity

168h of history

48.0%

current gross APR

2.3%

24h average

-15.7%

7-day average

$1.3M

pair OI · lower leg

$2.5M

24h 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.

WTI funding rate history

30d · 6h buckets · 9 venues

125%0-179.0%

6 Aug5 Sep

WTI — average across 9 venuesExtendedDreamcashKinetiqNado

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: -6.4%. A break in a line means no data was recorded for that stretch, not a zero rate.

WTI funding rate by venue

10 pairs scanned

Venue	Funding APR	Interval
Extended ↗	+48.2%	1h
Nado ↗	+20.8%	24h
Hyperliquid ↗	+5.5%	1h
trade.xyz ↗	+4.8%	1h
Ostium ↗	+2.4%	1h
GMTrade ↗	+0.2%	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 GMTrade vs Extended page.

WTI arbitrage — 30-day backtest

long GMTrade · short Extended

-14.8%

backtested APR

−$122

historical net P&L on $10,000

1.29%

max drawdown

$10,000$9,878

30 days agostarting capital $10,000today

Over the last 30 days, holding long GMTrade / short Extended would have produced -14.8% APR — versus the 43.5% the live spread implies right now (equity $10,000 → $9,878). 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 →

Loading WTI backtest…

WTI funding — FAQ

Is WTI funding positive right now?

WTI perpetual funding is positive on 6 of 6 venues Perpia tracks. The highest is +48.2% on Extended; the lowest is +0.2% on GMTrade.

What is the best WTI funding arbitrage right now?

Go long GMTrade and short Extended for about 43.5% net APR after fees — the widest delta-neutral WTI spread Perpia currently sees.

Which exchange has the highest WTI funding rate?

Extended, at +48.2% annualized. Funding shifts continuously, so check the live table above before trading.

How WTI 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 WTI

Markets also quoted on both Extended and GMTrade — the same two exchanges you would already have funded for the WTI trade.

See every spread between them on the Extended vs GMTrade page.

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