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Variational funding rate history

Variational lists 561 perpetual markets with funding rate data. The current mean funding rate across Variational perps is -0.03 bps (-0.28% APY) (8h-normalized so it can be compared across venues with different funding intervals).

Highest Variational funding rates

  • XPD: 10.16 bps (111.21% APY)
  • BOBA: 7.90 bps (86.48% APY)
  • DRIFT: 6.08 bps (66.58% APY)

Lowest Variational funding rates

  • CARV: -76.96 bps (-842.69% APY)
  • XCN: -42.12 bps (-461.23% APY)
  • ONE: -40.90 bps (-447.88% APY)

Largest absolute Variational funding rates

Markets with the most extreme Variational funding (positive or negative): CARV (-76.96 bps), XCN (-42.12 bps), ONE (-40.90 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 2026-10-06T04:56:20Z (UTC).

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FAQs

Variational funding rate questions

Variational currently reports funding for 561 perpetual futures markets with a mean 8-hour-normalized rate of -0.03 bps.

  • What is the average funding rate on Variational?

    The mean funding rate across 561 Variational perpetual markets is -0.03 bps, equivalent to -0.3% annualized after normalizing each market to an 8-hour basis.

  • Which Variational perpetual has the highest funding rate?

    XPD has the highest current Variational funding rate at +10.16 bps, or +111.2% annualized.

  • Which Variational perpetual has the lowest funding rate?

    CARV has the lowest current Variational funding rate at -76.96 bps, or -842.7% annualized.

  • Which Variational market has the most extreme funding?

    CARV has the largest absolute funding rate on Variational at -76.96 bps. Absolute magnitude identifies the market furthest from a flat rate, regardless of sign.

  • What does a positive Variational funding rate mean?

    A positive normalized rate means longs pay shorts on that Variational perpetual. A negative rate means shorts pay longs. The payment direction is market-specific and can differ across symbols on the same venue.

Related: Variational open interest, Variational volume, Variational market data.