{"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":0.303386,"leader":{"name":"OKX","slug":"okx","value":0.303386},"rankings":[{"name":"OKX","slug":"okx","ms":{"p50":0.303386,"p90":0.517456,"p99":0.396673,"mean":0.303386},"successRate":100,"sampleSize":2878},{"name":"Coinbase","slug":"coinbase","ms":{"p50":0.350744,"p90":0.485486,"p99":0.487333,"mean":0.350744},"successRate":100,"sampleSize":5756},{"name":"Gate","slug":"gate","ms":{"p50":0.411848,"p90":0.541027,"p99":0.975692,"mean":0.411848},"successRate":100,"sampleSize":5756},{"name":"Paradex","slug":"paradex","ms":{"p50":0.455167,"p90":0.439317,"p99":0.321342,"mean":0.455167},"successRate":100,"sampleSize":2878},{"name":"MEXC","slug":"mexc","ms":{"p50":0.538496,"p90":0.16224,"p99":0.596923,"mean":0.538496},"successRate":100,"sampleSize":5756},{"name":"Aster","slug":"aster","ms":{"p50":0.545562,"p90":0.392243,"p99":0.221911,"mean":0.545562},"successRate":100,"sampleSize":2878},{"name":"Binance","slug":"binance","ms":{"p50":0.720136,"p90":0.383278,"p99":0.206682,"mean":0.720136},"successRate":100,"sampleSize":2878},{"name":"Bitget","slug":"bitget","ms":{"p50":0.762462,"p90":1.75015,"p99":0.592186,"mean":0.762462},"successRate":100,"sampleSize":5756},{"name":"KuCoin","slug":"kucoin","ms":{"p50":0.802435,"p90":0.694117,"p99":1.01443,"mean":0.802435},"successRate":100,"sampleSize":5756},{"name":"Lighter","slug":"lighter","ms":{"p50":1.07927,"p90":0.951121,"p99":0.618527,"mean":1.07927},"successRate":100,"sampleSize":5756},{"name":"Hyperliquid","slug":"hyperliquid","ms":{"p50":1.48427,"p90":1.23038,"p99":0.773317,"mean":1.48427},"successRate":100,"sampleSize":2878},{"name":"Polymarket","slug":"polymarket","ms":{"p50":1.50299,"p90":1.45787,"p99":2.07642,"mean":1.50299},"successRate":100,"sampleSize":2878},{"name":"Kraken","slug":"kraken","ms":{"p50":1.86371,"p90":1.35251,"p99":4.56754,"mean":1.86371},"successRate":100,"sampleSize":5756},{"name":"dYdX v4","slug":"dydx","ms":{"p50":6.14363,"p90":0.436644,"p99":0.603663,"mean":6.14363},"successRate":100,"sampleSize":2878}],"sparkline":[0.836089,0.826715,0.815846,0.807063,0.802166,0.801183,0.802049,0.802472,0.801959,0.798715,0.79546,0.792557,0.788466,0.779082,0.766901,0.753854,0.740116,0.725492,0.710288,0.691655,0.670402,0.650708,0.635598,0.626106,0.618293,0.611853,0.607283,0.604291,0.602072,0.600666,0.599557,0.599727,0.601196,0.604144,0.60764,0.61294,0.618444,0.622367,0.624303,0.62524,0.624913,0.623608,0.6207,0.615559,0.608228,0.5977,0.583969,0.566729,0.546802,0.523161,0.495818,0.469682,0.443441,0.417595,0.394343,0.374459,0.354274,0.33615,0.328553,0.329758,0.33575,0.340397,0.341657,0.341508,0.341103,0.33948,0.337036,0.332567,0.326034,0.320386,0.315116,0.307899,0.303386],"sampleSize":63316,"asOf":"2026-08-08T13:27:58.407Z","headline":"OKX leads 24h eth funding stddev at 0.0030% (24h avg) on Perp DEX funding stability, 24h stddev of ETH funding ranked.","quote":"OKX leads 24h eth funding stddev at 0.0030% (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"}