Funding carry: what holding a perpetual against spot pays

Funding carry ranks coins by what their perpetual futures pay in funding right now on Binance, Bybit, OKX, Coinbase and Hyperliquid, and shows how steady that pay has been over the last 30 days. It is a Pro Lab tool, part of the Pro and Elite plans.

Using it

1. On a computer, press Pro Lab on the right-hand toolbar; on a phone, open the analysis centre from the chart's bottom bar and choose Pro Lab. Then choose Funding carry.
2. Choose the trade: Short perp, long spot (funding pays the shorts), Long perp, short spot (funding pays the longs) or Across exchanges (the widest gap between two exchanges).
3. Choose the smallest open interest to count: any, $5M or $50M.
4. Pick a row to see that coin on each exchange over the last 30 days.

Reading the results

• The table gives the rate across the exchanges weighted by open interest, the exchanges with the highest and the lowest rate, the gap between them, the open interest and when the exchange you would trade on pays next. Every rate is % a year.
• The coin's table gives each exchange's last payment and its rate over 1, 7 and 30 days, the share of payments that went to shorts, and what a $10,000 short perpetual was paid over the 30 days.
• For the trade across exchanges, the line above the table compares today's gap with its average over the last 30 days.
• The chart draws each exchange's daily rate over the month.

Good to know

• Every rate is put on the same 8-hour period and read as % a year without compounding (× 3 × 365), as on the funding rates page; the rates are read every ten minutes.
• The 30 days come from AlertaChart's own recordings of every settled payment.
• The list is not every coin: it holds the majors, the market pages' coins and the coins with the highest and lowest rates among those with $5M or more of open interest. A smaller coin paying more, or a wider gap between exchanges on a coin outside the list, does not show.
• None of it counts trading fees, borrowing, the price gap between the two legs or the rate changing after you open. A very high rate rarely lasts, so the 7- and 30-day columns say more than the last payment.