{"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":0.00020419,"leader":{"name":"Vest","slug":"vest","value":0.00020419},"leaders":[{"name":"Vest","slug":"vest","value":0.00020419}],"rankings":[{"name":"Vest","slug":"vest","value":0.00020419,"unit":"bps","ms":{"p50":0.00020419,"p90":2.62775,"p99":1.66188,"mean":0.00020419},"successRate":100,"sampleSize":2880},{"name":"Hyperliquid","slug":"hyperliquid","value":0.0222093,"unit":"bps","ms":{"p50":0.0222093,"p90":0,"p99":2.16988,"mean":0.0222093},"successRate":100,"sampleSize":2880},{"name":"Paradex","slug":"paradex","value":0.265462,"unit":"bps","ms":{"p50":0.265462,"p90":0.922859,"p99":0.517866,"mean":0.265462},"successRate":100,"sampleSize":2880},{"name":"Lighter","slug":"lighter","value":0.290279,"unit":"bps","ms":{"p50":0.290279,"p90":0,"p99":0.46393,"mean":0.290279},"successRate":100,"sampleSize":2880},{"name":"Aster","slug":"aster","value":0.537744,"unit":"bps","ms":{"p50":0.537744,"p90":0.603667,"p99":0.724483,"mean":0.537744},"successRate":100,"sampleSize":2880},{"name":"Bitget","slug":"bitget","value":0.557136,"unit":"bps","ms":{"p50":0.557136,"p90":0.367382,"p99":0.647359,"mean":0.557136},"successRate":100,"sampleSize":2880},{"name":"Gate","slug":"gate","value":0.68332,"unit":"bps","ms":{"p50":0.68332,"p90":0.841269,"p99":0.842453,"mean":0.68332},"successRate":100,"sampleSize":2880},{"name":"Binance","slug":"binance","value":0.717946,"unit":"bps","ms":{"p50":0.717946,"p90":0.992866,"p99":0.926347,"mean":0.717946},"successRate":100,"sampleSize":2880},{"name":"KuCoin","slug":"kucoin","value":0.727097,"unit":"bps","ms":{"p50":0.727097,"p90":0.637121,"p99":0.284236,"mean":0.727097},"successRate":100,"sampleSize":2880},{"name":"MEXC","slug":"mexc","value":0.825486,"unit":"bps","ms":{"p50":0.825486,"p90":0.783229,"p99":0.748386,"mean":0.825486},"successRate":100,"sampleSize":2880},{"name":"OKX","slug":"okx","value":0.92662,"unit":"bps","ms":{"p50":0.92662,"p90":0.880548,"p99":0.686038,"mean":0.92662},"successRate":100,"sampleSize":2880},{"name":"Bybit","slug":"bybit","value":0.948637,"unit":"bps","ms":{"p50":0.948637,"p90":0.802944,"p99":0.703354,"mean":0.948637},"successRate":100,"sampleSize":2880},{"name":"StandX","slug":"standx","value":1.01625,"unit":"bps","ms":{"p50":1.01625,"p90":0,"p99":0,"mean":1.01625},"successRate":100,"sampleSize":2880},{"name":"ApeX Omni","slug":"apex","value":1.26093,"unit":"bps","ms":{"p50":1.26093,"p90":1.74674,"p99":3.15301,"mean":1.26093},"successRate":100,"sampleSize":2880},{"name":"Kalshi","slug":"kalshi","value":1.55493,"unit":"bps","ms":{"p50":1.55493,"p90":1.91593,"p99":0,"mean":1.55493},"successRate":100,"sampleSize":2880},{"name":"Kraken","slug":"kraken","value":2.34857,"unit":"bps","ms":{"p50":2.34857,"p90":1.66242,"p99":2.63165,"mean":2.34857},"successRate":100,"sampleSize":2880},{"name":"dYdX v4","slug":"dydx","value":6.22734,"unit":"bps","ms":{"p50":6.22734,"p90":2.47751,"p99":3.67994,"mean":6.22734},"successRate":100,"sampleSize":2880}],"sparkline":[0.000457984,0.000422045,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000406181,0.000396792,0.000334281,0.000294373,0.000304082,0.000313471,0.000313471,0.000255429,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023545,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00023549,0.00020419,0.00020419,0.00020419,0.00020419,0.00020419],"sampleSize":54720,"asOf":"2026-11-07T10:00:09.044Z","freshness":{"asOf":"2026-11-07T10:00:09.044Z","ageHours":0,"stale":false},"measured":19,"ranked":17,"headline":"Vest posts the lowest 24h ETH funding stddev at 0.00000% (24h avg) across 17 ranked venues.","quote":"Vest posts the lowest 24h ETH funding stddev at 0.00000% (24h avg) across 17 ranked venues. Source: OpenChainBench (https://openchainbench.com/benchmarks/perp-funding-stability).","cite":{"plain":"OpenChainBench. \"Perp DEX funding stability, 24h stddev of ETH funding ranked\". Retrieved 2026-11-07. 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 2026-11-07}\n}","apa":"OpenChainBench. (2026). Perp DEX funding stability, 24h stddev of ETH funding ranked. Retrieved November 7, 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  - 2026-11-07\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":["A stddev of zero is a property of the window, not of the venue. Most of the cohort quotes the same baseline when open interest is balanced, 0.01 percent per 8 hours, which normalizes to 3.00 bps per 24h hold: on 2026-10-21 nine of the twenty sat exactly there on ETH. Any venue holding the baseline for a full 24 hours reads zero and goes unranked, whatever its age. All of them move on a longer window, Polymarket between -0.26 and 3.00 bps over 30 days.","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 of the 24h hold cost on ETH over a 24 hour window, per venue, on whichever of the two funding metrics that venue is read from. A day is short enough that one settlement regime dominates, so the figure answers what the band looked like today rather than this 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. Nineteen venues, two sources. 8 polled directly (perp_funding_hold_24h_bps): Hyperliquid, Bybit, dYdX v4, Binance, OKX, Paradex, Polymarket, Aster. 11 via the Mobula CEFI aggregator (perp_venue_funding_24h_bps): Ondo Perps, Kalshi, Vest, StandX, ApeX Omni, Bitget, Gate, Kraken, KuCoin, Lighter, MEXC. Both normalize to bps per 24h hold, sign preserved. Deribit, edgeX, Extended, Pacifica and Lighter RH are ranked on perp-funding-cost-30d and are not on this bench.","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"}