{"slug":"perp-funding-stability","title":"Perp DEX funding stability, 24h stddev of ETH funding ranked","subtitle":"24h standard deviation of ETH funding rate, in basis points per 24h, across the perp-funding cohort. Lower means funding stays in a tight band, the carry trader's preferred signal.","category":"Trading","metric":"24h ETH funding stddev","unit":"bps","status":"live","higherIsBetter":false,"filters":null,"value":0.23195,"leader":{"name":"Coinbase","slug":"coinbase","value":0.23195},"rankings":[{"name":"Coinbase","slug":"coinbase","ms":{"p50":0.23195,"p90":0.201654,"p99":0.293572,"mean":0.23195},"successRate":100,"sampleSize":5760},{"name":"Paradex","slug":"paradex","ms":{"p50":0.408064,"p90":0.515226,"p99":0.089399,"mean":0.408064},"successRate":100,"sampleSize":2880},{"name":"Gate","slug":"gate","ms":{"p50":0.409736,"p90":0.408816,"p99":0.799469,"mean":0.409736},"successRate":100,"sampleSize":5760},{"name":"Bitget","slug":"bitget","ms":{"p50":0.533589,"p90":0.825421,"p99":0.638506,"mean":0.533589},"successRate":100,"sampleSize":5760},{"name":"OKX","slug":"okx","ms":{"p50":0.559326,"p90":0.413948,"p99":0.165575,"mean":0.559326},"successRate":100,"sampleSize":2880},{"name":"Aster","slug":"aster","ms":{"p50":0.651352,"p90":0.392849,"p99":0.217877,"mean":0.651352},"successRate":100,"sampleSize":2880},{"name":"KuCoin","slug":"kucoin","ms":{"p50":0.725767,"p90":0.658993,"p99":1.25109,"mean":0.725767},"successRate":100,"sampleSize":5760},{"name":"Bybit","slug":"bybit","ms":{"p50":0.744506,"p90":0.992962,"p99":0.841021,"mean":0.744506},"successRate":100,"sampleSize":2880},{"name":"Binance","slug":"binance","ms":{"p50":0.783715,"p90":0.376617,"p99":0.205426,"mean":0.783715},"successRate":100,"sampleSize":2880},{"name":"MEXC","slug":"mexc","ms":{"p50":0.832542,"p90":0.0732202,"p99":0.226274,"mean":0.832542},"successRate":100,"sampleSize":5760},{"name":"Lighter","slug":"lighter","ms":{"p50":0.870309,"p90":1.08461,"p99":0.146361,"mean":0.870309},"successRate":100,"sampleSize":5760},{"name":"Polymarket","slug":"polymarket","ms":{"p50":1.13647,"p90":1.4777,"p99":2.12311,"mean":1.13647},"successRate":100,"sampleSize":2880},{"name":"Hyperliquid","slug":"hyperliquid","ms":{"p50":1.30748,"p90":1.34962,"p99":0.416997,"mean":1.30748},"successRate":100,"sampleSize":2880},{"name":"dYdX v4","slug":"dydx","ms":{"p50":1.44697,"p90":0.481087,"p99":0.370517,"mean":1.44697},"successRate":100,"sampleSize":2880},{"name":"Kraken","slug":"kraken","ms":{"p50":1.98906,"p90":1.20713,"p99":3.94712,"mean":1.98906},"successRate":100,"sampleSize":5760}],"sparkline":[0.378892,0.37634,0.373749,0.371094,0.368397,0.368022,0.368022,0.368022,0.370265,0.372952,0.375566,0.378132,0.380651,0.383125,0.385555,0.38794,0.390282,0.391294,0.391294,0.391294,0.392571,0.393942,0.395195,0.394484,0.392874,0.391002,0.391204,0.391735,0.39215,0.391455,0.390565,0.389644,0.390292,0.391191,0.392026,0.391871,0.391376,0.390765,0.386396,0.38137,0.376158,0.370754,0.365147,0.35933,0.353512,0.347422,0.34093,0.322495,0.298562,0.270333,0.256734,0.246924,0.235665,0.233234,0.23189,0.230484,0.230647,0.232613,0.234514,0.23395,0.23203,0.230045,0.229716,0.229716,0.229716,0.229716,0.229716,0.229716,0.229716,0.229637,0.229637,0.229966,0.23195],"sampleSize":63360,"asOf":"2026-08-08T22:38:28.410Z","headline":"Coinbase leads 24h eth funding stddev at 0.0023% (24h avg) on Perp DEX funding stability, 24h stddev of ETH funding ranked.","quote":"Coinbase leads 24h eth funding stddev at 0.0023% (24h avg) on Perp DEX funding stability, 24h stddev of ETH funding ranked. Source: OpenChainBench (https://openchainbench.com/benchmarks/perp-funding-stability).","cite":{"plain":"OpenChainBench. \"Perp DEX funding stability, 24h stddev of ETH funding ranked\". Retrieved 2026-08-08. https://openchainbench.com/benchmarks/perp-funding-stability","bibtex":"@misc{ocb_perp_funding_stability,\n  author = {OpenChainBench},\n  title  = {Perp DEX funding stability, 24h stddev of ETH funding ranked},\n  year   = {2026},\n  url    = {https://openchainbench.com/benchmarks/perp-funding-stability},\n  note   = {Retrieved 2026-08-08}\n}","apa":"OpenChainBench. (2026). Perp DEX funding stability, 24h stddev of ETH funding ranked. Retrieved August 8, 2026, from https://openchainbench.com/benchmarks/perp-funding-stability","ris":"TY  - GEN\r\nAU  - OpenChainBench\r\nTI  - Perp DEX funding stability, 24h stddev of ETH funding ranked\r\nPY  - 2026\r\nUR  - https://openchainbench.com/benchmarks/perp-funding-stability\r\nY2  - 2026-08-08\r\nER  - \r\n"},"pageUrl":"https://openchainbench.com/benchmarks/perp-funding-stability","ogImage":"https://openchainbench.com/api/og/perp-funding-stability","source":"https://github.com/ChainBench/OpenChainBench/tree/main/harnesses/perp-cohort-stats","methodology":["Young venues read artificially stable at first: a venue whose funding has not moved since listing (Polymarket perps launched 2026-07-08 with a constant default rate) shows a stddev near zero until real funding history accrues. Read the sample count next to the rank.","Source. Same upstream as perp-funding: each venue's public funding endpoint polled every 60 seconds, normalized to bps per hour and per 24h hold, sign preserved.","Metric. stddev_over_time(perp_funding_hold_24h_bps{asset=\"ETH\"}[24h]) per venue. The 7d window smooths intraday noise but reacts to regime shifts within a week.","Sign handling. The underlying series is signed (positive means longs pay). Stability measures the swing, so the ranking uses the unsigned stddev. Average direction and level are the perp-funding bench.","Cohort. 15 venues across two sources. 7 polled directly (perp_funding_hold_24h_bps): Hyperliquid, Bybit, dYdX v4, Binance, OKX, Paradex, Aster. 8 via Mobula CEFI aggregator (perp_venue_funding_24h_bps): Bitget, Coinbase, Deribit, Gate, Kraken, KuCoin, Lighter, MEXC. Both normalize to bps per 24h hold, sign preserved, so the unsigned stddev compares cleanly across the full cohort.","Success. Same freshness signal as perp-funding: perp_funding_venue_ok_unix advancing within the last 5 minutes. A venue whose scrape stalls is tagged stale on the row.","Cadence. The upstream funding harness polls every 60 seconds; Prometheus scrapes every 30 seconds. The 7 day stddev refreshes on every scrape.","Failures. A venue whose upstream funding feed errors keeps its last gauge value; the leaderboard tags the row stale once the success gauge drops to 0.","Reproducibility. The harness emits perp_funding_hold_24h_bps with labels venue and asset; the bench query is the stddev over 7d on that series with asset=ETH pinned."],"license":"CC-BY-4.0"}