USD1 funding rate explained
Right now USD1 perpetual futures trade on 3 exchanges we track. The highest funding is on Aster at +0.030% per day, the lowest on Bybit at -0.044%. The average across all venues is -0.001% per day, or about -0.3% a year. Negative funding means USD1 shorts are paying longs — the market is leaning short.
The gap between the highest and lowest venue is +0.074% per day. A delta-neutral position that shorts USD1 on Aster and goes long on Bybit would collect that difference at each settlement, before trading fees and the price spread between the two contracts. Check the live USD1 arbitrage page for the price side of the trade.
Settlement intervals differ: USD1 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: USD1 arbitrage · USD1 price · funding rates for all coins.