Tool
Funding Rate Scanner
Spot the best paying carry trade right now, on either exchange.
What is the funding rate?
Perp prices drift away from spot prices all day. Exchanges fix that with a small funding rate: every few hours, one side of every open position pays the other. When traders are crowded long, longs pay shorts. When crowded short, shorts pay longs.
If you go long spot + short perp on the same coin in equal size, you're market-neutral on price. But the funding the short collects becomes pure yield. That's a carry trade, and at scale it's the main "real yield" source in crypto.
This tool shows you which coins are paying the most right now, annualized, on both exchanges. Pick a row and the calculator below estimates your net yield after fees.
Step 1 · Pick a coin
Click any row to load its rate into the carry calculator. Annualized rate uses linear extrapolation — what you'd earn in a year if the current rate holds.
Loading current rates from Binance and Hyperliquid…
Step 2 · Size the carry trade
How much to put in, at what perp leverage, for how long. The calculator subtracts fees on both legs and annualizes the net return on the total capital you tie up.
Pick a row from the scanner above to start sizing.
Spot capital (USD)
Money you'd put into the long-spot leg. The perp short is sized to match this notional for delta neutrality.
Perp leverage · 3×
Higher leverage ties up less margin (better ROI on capital) but tightens the liquidation buffer on the short. Most carry desks run 2-5×.
Expected hold (days)
How long you plan to keep the position open. Funding accrues every period; fees are paid once at open and once at close, so longer holds amortise the fees.
What can go wrong
Funding flips — rates change every period. A long-pays-shorts regime can turn into the opposite within hours if sentiment moves. Check before you re-enter.
Short squeeze — even though spot covers your upside in price, the perp short can be liquidated if leverage is too high and price spikes faster than your margin can replenish. Use modest leverage and keep extra margin.
Borrow / withdrawal frictions — some exchanges charge spot withdrawal fees or restrict transfers between spot and perp wallets. Always size in the actual money you can move, not the headline balance.