Variational lists 460 perpetual markets with funding rate data. The current mean funding rate across Variational perps is -0.16 bps (-1.76% APY) (8h-normalized so it can be compared across venues with different funding intervals).

Highest Variational funding rates

• BSB: 28.54 bps (312.51% APY)
• MAGMA: 7.38 bps (80.77% APY)
• LAB: 5.47 bps (59.94% APY)

Lowest Variational funding rates

• GMT: -50.00 bps (-547.50% APY)
• STEEM: -44.84 bps (-490.98% APY)
• BTR0: -38.65 bps (-423.27% APY)

Largest absolute Variational funding rates

Markets with the most extreme Variational funding (positive or negative): GMT (-50.00 bps), STEEM (-44.84 bps), BTR0 (-38.65 bps).

About Variational funding rates

Funding payments keep Variational perpetual contracts pinned to the underlying spot price. A positive Variational funding rate means longs pay shorts — the long side is crowded and willing to pay to hold the position. A negative Variational funding rate means shorts pay longs. All rates on this page are normalized to an 8-hour basis so Variational can be compared directly with venues that fund hourly, every 4 hours, or on any other schedule.

Last updated 2026-05-23 13:43:59 (UTC).