{"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":0.0310075,"leader":{"name":"Polymarket","slug":"polymarket","value":0.0310075},"rankings":[{"name":"Polymarket","slug":"polymarket","ms":{"p50":0.0310075,"p90":0.688399,"p99":0.0361456,"mean":0.0310075},"successRate":100,"sampleSize":2880},{"name":"Aster","slug":"aster","ms":{"p50":0.274081,"p90":1.1414,"p99":0.767598,"mean":0.274081},"successRate":100,"sampleSize":2880},{"name":"KuCoin","slug":"kucoin","ms":{"p50":0.384586,"p90":0.733169,"p99":1.11309,"mean":0.384586},"successRate":100,"sampleSize":2879},{"name":"Binance","slug":"binance","ms":{"p50":0.386063,"p90":1.31782,"p99":1.03958,"mean":0.386063},"successRate":100,"sampleSize":2880},{"name":"Coinbase","slug":"coinbase","ms":{"p50":0.506613,"p90":0.415275,"p99":0.602685,"mean":0.506613},"successRate":100,"sampleSize":2879},{"name":"Bitget","slug":"bitget","ms":{"p50":0.512743,"p90":1.2884,"p99":1.30755,"mean":0.512743},"successRate":100,"sampleSize":2879},{"name":"MEXC","slug":"mexc","ms":{"p50":0.523738,"p90":1.10921,"p99":1.30593,"mean":0.523738},"successRate":100,"sampleSize":2879},{"name":"OKX","slug":"okx","ms":{"p50":0.550741,"p90":1.21929,"p99":1.09985,"mean":0.550741},"successRate":100,"sampleSize":2880},{"name":"Gate","slug":"gate","ms":{"p50":0.684752,"p90":1.03168,"p99":1.49115,"mean":0.684752},"successRate":100,"sampleSize":2879},{"name":"Hyperliquid","slug":"hyperliquid","ms":{"p50":1.04868,"p90":0.855319,"p99":1.71184,"mean":1.04868},"successRate":100,"sampleSize":2880},{"name":"Kraken","slug":"kraken","ms":{"p50":1.26052,"p90":1.8874,"p99":3.43142,"mean":1.26052},"successRate":100,"sampleSize":2879},{"name":"dYdX v4","slug":"dydx","ms":{"p50":2.76851,"p90":1.19423,"p99":4.66231,"mean":2.76851},"successRate":100,"sampleSize":2880},{"name":"Paradex","slug":"paradex","ms":{"p50":4.98265,"p90":0.035283,"p99":0.0506905,"mean":4.98265},"successRate":100,"sampleSize":2880}],"sparkline":[0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.00227906,0.0304308,0.0304308,0.0304308,0.0304308,0.0304308,0.0304308,0.0304308,0.0304308,0.0304308,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310888,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075,0.0310075],"sampleSize":50668,"asOf":"2026-09-23T04:35:01.039Z","freshness":{"asOf":"2026-09-23T04:35:01.039Z","ageHours":0,"stale":false},"measured":15,"headline":"Polymarket posts the lowest 24h ETH funding stddev at 0.00031% (24h avg) on Perp DEX funding stability, 24h stddev of ETH funding ranked.","quote":"Polymarket posts the lowest 24h ETH funding stddev at 0.00031% (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 2026-09-23. 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 2026-09-23}\n}","apa":"OpenChainBench. (2026). Perp DEX funding stability, 24h stddev of ETH funding ranked. Retrieved September 23, 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  - 2026-09-23\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. Two sources. 8 polled directly (perp_funding_hold_24h_bps): Hyperliquid, Bybit, dYdX v4, Binance, OKX, Paradex, Aster, Ondo Perps. 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"}