SHOP funding rate explained
Right now Shopify • Robinhood Token (SHOP) perpetual futures trade on 7 exchanges we track. The highest funding is on HTX at +0.030% per day, the lowest on Variational at 0.000%. The average across all venues is +0.004% per day, or about +1.6% a year. Positive funding means SHOP longs are paying shorts — the market is leaning long.
The gap between the highest and lowest venue is +0.030% per day. A delta-neutral position that shorts SHOP on HTX and goes long on Variational would collect that difference at each settlement, before trading fees and the price spread between the two contracts. Check the live SHOP arbitrage board for the price side of the trade.
Settlement intervals differ: SHOP funding is paid every 8 hours depending on the exchange, so every rate on this page is also shown normalised to 24 hours and as an APR.
Related: SHOP arbitrage · Shopify • Robinhood Token price · funding rates for all coins.