Screener: Funding arbitrage
Extreme betting perps funding per annum. It's immediately clear whether there's a spot for a delta-neutral position and what the net return is. APR after commissions.
| Coin | Funding APR | Perp Exchange | Spot | Spot exchange | Net APR | Volume 24h |
|---|---|---|---|---|---|---|
| Calculating arbitrage rates… | ||||||
What is funding arbitrage and how does it work?
When the funding rate on a perpetual futures contract is abnormally high, longs pay shorts every eight hours. If you short the perp and simultaneously buy the same coin on the spot, the market movement is neutralized, and funding flows into the account. This is funding arbitrage in its purest form.
In practice, the annualized rate is important APRFunding of 0.05% for 8 hours → that's 54.75% per annum. Minus trading fees for entry and exit (≈ 0.2–0.4% of turnover on both legs) and spot funding rates for margin trading, the real net return remains in the range of 30–45% per annum on stable setups.
The screener filters only those coins that offer both instruments: a perpetual futures contract with extreme funding and a spot market with sufficient liquidity. Without spot, the pose cannot be neutralized, meaning the idea becomes a risky, directed trade rather than an arbitrage opportunity.
How to Find Arbitrage Bets
Step 1: Find a High APR
Sort by the Funding column APR" It's worth considering rates starting at 25% per annum—arbitration below this level doesn't cover commissions and risks.
Step 2: Check the spot
The "Spot" column should be green—there's a liquid spot. The "Spot Exchange" column will tell you where to open the second leg.
Step 3: Assess the risk
Funding changes every 8 hours. A very high rate often lasts for 1-2 periods and then normalizes. Plan for a short holding period.