Variational lists 502 perpetual markets with funding rate data. The current mean funding rate across Variational perps is -4.32 bps (-47.35% APY) (8h-normalized so it can be compared across venues with different funding intervals).

Highest Variational funding rates

• AERGO: 19.69 bps (215.65% APY)
• M: 19.16 bps (209.81% APY)
• TAC: 13.84 bps (151.51% APY)

Lowest Variational funding rates

• LAB: -1157.74 bps (-12677.26% APY)
• GWEI: -521.04 bps (-5705.36% APY)
• SPELL: -310.82 bps (-3403.44% APY)

Largest absolute Variational funding rates

Markets with the most extreme Variational funding (positive or negative): LAB (-1157.74 bps), GWEI (-521.04 bps), SPELL (-310.82 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 2026-07-07T20:27:11Z (UTC).