BIRB funding rate explained
Right now Moonbirds (BIRB) perpetual futures trade on 6 exchanges we track. The highest funding is on Bybit at +0.030% per day, the lowest on Aster at +0.015%. The average across all venues is +0.017% per day, or about +6.4% a year. Positive funding means BIRB longs are paying shorts — the market is leaning long.
The gap between the highest and lowest venue is +0.015% per day. A delta-neutral position that shorts BIRB on Bybit and goes long on Aster would collect that difference at each settlement, before trading fees and the price spread between the two contracts. Check the live BIRB arbitrage board for the price side of the trade.
Settlement intervals differ: BIRB funding is paid every 4 hours and 8 hours depending on the exchange, so every rate on this page is also shown normalised to 24 hours and as an APR.
Related: BIRB arbitrage · Moonbirds price · funding rates for all coins.