EchoLikeUpdated Oct 23, 11:08 PM Bogotá · rebuilt every hour at minute 07
On Aster, the AXIS perpetual: shorts pay longs 0.39% every 1 hour — 3,410% a year if that rate held.
That is an annualized funding rate of -3,410% a year (the hourly rate × 24 × 365), the most extreme of 591 liquid markets read at 11:08 PM.
18 of 20 exchanges read · 591 liquid markets (≥ $250k open interest or volume).
Alerts for the biggest funding moves go out on the Telegram channel: t.me/echolike_radar.
Highest positive funding (longs pay shorts)
| Exchange | Market | Paid every (h) | Per hour (%) | Per 8 hours (%) | Annualized (%) | Open interest | Read at |
|---|---|---|---|---|---|---|---|
| Aster | IRYS | 1 | +0.0679% | +0.5433% | +594.9% | — | 11:08 PM |
| HL HIP-3 | HO | 1 | +0.0579% | +0.4636% | +507.6% | $2.8M | 11:08 PM |
| Aster | PEARL | 1 | +0.0266% | +0.2126% | +232.8% | — | 11:08 PM |
| Aster | DNA | 1 | +0.0193% | +0.1546% | +169.3% | — | 11:08 PM |
| Aster | ARIA | 4 | +0.0181% | +0.1445% | +158.2% | — | 11:08 PM |
| HL HIP-3 | SOFTBANK | 1 | +0.0127% | +0.1014% | +111.1% | $2.1M | 11:08 PM |
| Variational | BNC | 8.0 | +0.0125% | +0.1004% | +109.9% | $665k | 11:08 PM |
| HL HIP-3 | MSTR | 1 | +0.0115% | +0.0922% | +101.0% | $37.1M | 11:08 PM |
| HL HIP-3 | ANSEM | 1 | +0.0102% | +0.0817% | +89.5% | $386k | 11:08 PM |
| HL HIP-3 | ZHIPU | 1 | +0.0101% | +0.0809% | +88.6% | $9.3M | 11:08 PM |
| HL HIP-3 | KORU | 1 | +0.0092% | +0.0734% | +80.3% | $7.2M | 11:08 PM |
| HL HIP-3 | SNXX | 1 | +0.0091% | +0.0732% | +80.1% | $1.0M | 11:08 PM |
| Aster | AGT | 4 | +0.0088% | +0.0700% | +76.7% | — | 11:08 PM |
| HL HIP-3 | BMNR | 1 | +0.0087% | +0.0698% | +76.4% | $2.3M | 11:08 PM |
| HL HIP-3 | PURRDAT | 1 | +0.0086% | +0.0691% | +75.7% | $11.3M | 11:08 PM |
Most negative funding (shorts pay longs)
| Exchange | Market | Paid every (h) | Per hour (%) | Per 8 hours (%) | Annualized (%) | Open interest | Read at |
|---|---|---|---|---|---|---|---|
| Aster | AXIS | 1 | -0.3892% | -3.1140% | -3409.8% | — | 11:08 PM |
| Aster | BMT | 4 | -0.3482% | -2.7858% | -3050.4% | — | 11:08 PM |
| Aster | BIRB | 4 | -0.1813% | -1.4502% | -1587.9% | — | 11:08 PM |
| Aster | BTW | 4 | -0.1758% | -1.4067% | -1540.4% | — | 11:08 PM |
| Aster | ERA | 4 | -0.1499% | -1.1989% | -1312.8% | — | 11:08 PM |
| Hyperliquid | ALT | 1 | -0.0973% | -0.7783% | -852.2% | $1.6M | 11:08 PM |
| Aster | BULLA | 4 | -0.0587% | -0.4697% | -514.3% | — | 11:08 PM |
| Aster | GTC | 4 | -0.0484% | -0.3869% | -423.7% | — | 11:08 PM |
| Hyperliquid | SOPH | 1 | -0.0409% | -0.3275% | -358.6% | $319k | 11:08 PM |
| Aster | IN | 4 | -0.0126% | -0.1005% | -110.0% | — | 11:08 PM |
| HL HIP-3 | MRNA | 1 | -0.0119% | -0.0954% | -104.5% | $17.4M | 11:08 PM |
| HL HIP-3 | CRWD | 1 | -0.0085% | -0.0677% | -74.2% | $1.8M | 11:08 PM |
| Hyperliquid | REZ | 1 | -0.0083% | -0.0666% | -72.9% | $1.8M | 11:08 PM |
| HL HIP-3 | NET | 1 | -0.0083% | -0.0665% | -72.8% | $6.5M | 11:08 PM |
| Hyperliquid | XMR | 1 | -0.0076% | -0.0605% | -66.3% | $89.4M | 11:08 PM |
Every row was read at the same minute (11:08 PM) by one scan. Tap a column header to sort, use the box to filter, or group by venue.
What is a funding rate?
A funding rate is a small payment between traders who hold perpetual futures. When the rate is positive, traders with long positions pay traders with short positions. When it is negative, shorts pay longs. Payments happen on a set schedule, for example every hour or every 8 hours depending on the exchange; the Paid every column shows the schedule of each market. The annualized rate spreads that periodic payment over a full year so you can compare venues at a glance.
How to read the venue names
- HL HIP-3: Hyperliquid's builder-deployed markets (HIP-3), a separate set of listings on Hyperliquid.
- Hyperliquid: the main Hyperliquid perpetual exchange.
- Orderly: Orderly Network (shared order book).
- Jupiter: Jupiter Perps, on Solana.
Exchanges we could not read this hour
Their rows are missing from the tables above, so a gap here is a gap, not a zero. We publish the reason the scan recorded and never estimate a rate.
- Drift: its public data address does not resolve any more (the name lookup fails).
- edgeX: its public API answers with a web page instead of data, so there is no rate to read.
How a carry trade works
A funding carry trade tries to collect funding while staying price-neutral. You short the perpetual where funding is high, so you receive payments, and hedge the price move by holding spot or going long on another venue where funding is lower. The main risks are funding flipping against you, trading fees eating the return, liquidation if prices move sharply, and venue or smart-contract failure where your funds are held.
Where to trade
Lighter · Paradex
Referral links: we may earn a commission.
Not financial advice. Data comes from public exchange APIs and can be late or wrong. Funding changes every hour; check the venue before trading.