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Funding paid to hold an ETH perp long for 30 days, per venue, live

A month of funding for an ETH long at each venue's average daily cost over the trailing 30 days, in basis points of notional (BTC and SOL in the p90 and p99 columns). Positive means the long paid, negative means it was paid. The 24h-hold figure on the perp-funding bench is the rate right now; this is what a month at the rates actually observed costs.

TL;DR. As of , Vest posts the lowest funding paid, 30d ETH long at -53.6 bps (30 days at the average daily rate) across 22 ranked venues. Source: OpenChainBench, https://openchainbench.com/benchmarks/perp-funding-cost-30d.

Read this carefully

Every row is a month of funding at the venue's average daily cost over the hours measured in the trailing 30 days (average x 30). A venue ranks only with 576 of the 720 hours (24 days) behind that average; under the floor the row is provisional, unranked, and shows its day count (the venues added on 2026-09-22 and 2026-09-23 start there). Funding is signed: on a month where shorts paid longs the figure is negative and "cheapest" means "was paid the most".

A funding rate quoted per hour or per 8 hours says what a position pays right now. A trader who held an ETH long through September did not pay the current rate; they paid every settlement along the way, and on the same day venues can differ by a factor of two. This page integrates the normalised 24-hour funding cost the harness records every minute into the cost of holding a long for the trailing 7 and 30 days, in basis points of notional, for 22 venues: the onchain order books (Hyperliquid, Lighter, Paradex), the regulated Kalshi book, and the large CEX books (Binance, Bybit, OKX, Kraken, Gate) as the reference. The number a carry trader wants is here: which venue was cheapest to be long on over the month, and by how much.

Methodology

The perp-cohort-stats harness publishes perp_venue_funding_24h_bps for every venue and asset it covers: the venue's current funding rate, normalised from its settlement interval (1h, 4h or 8h) to the cost in basis points of holding a long for 24 hours, sampled every minute. The bench averages that series over the trailing 30 days and multiplies by 30: a month of funding at the average daily cost the venue actually quoted. The same figure over 7 days is in the mean column. ETH is the headline; BTC and SOL sit in the p90 and p99 columns on the same convention as the perp-funding bench. The sample count per row is the number of hours behind the average: 720 for a full month, and a venue ranks only with 576 of them (24 days), because a total over fewer days would rank on coverage rather than on cost. Under that floor the row is provisional and unranked, with its day count: a month at the rate of the days measured, which the sample-health badge flags until 15 days and the provisional label until 24.

  • Source series: perp_venue_funding_24h_bps{venue,asset} from the perp-cohort-stats harness (each venue's own rate endpoint where the harness reads one: Kalshi, Vest, StandX, ApeX, Polymarket, Extended, edgeX, Pacifica, Aster, and Lighter since 2026-09-23, whose window before that date is the Mobula series for the same venue, identical at the switch; the Mobula funding aggregator for Hyperliquid and the CEX rows), sampled every 60 seconds and read here on an hourly grid ([30d:1h]).
  • 30d cost = avg_over_time(series[30d:1h]) x 30: the average daily cost over the hours measured in the window, times a month. A venue is ranked only with 576 hourly samples (24 days) behind that average; under the floor the figure is a month at the rate of the days measured and the row carries its day count. 7d cost is avg_over_time(series[7d:1h]) x 7 (mean column).
  • Columns: p50 = ETH 30d, p90 = BTC 30d, p99 = SOL 30d, mean = ETH 7d. The column labels are inherited from the latency template; the values are signed bps.
  • Sign: positive means the long paid funding to shorts; negative means shorts paid longs. Lower ranks first, so on a month where shorts paid, the venue that paid longs the most is first.
  • Sample health: expected_n is 720 (a month of hourly samples). A venue ranks only with 576 of them (24 days, 80 percent of the grid, which absorbs harness restarts): the figure does not move with coverage, but an average over a few days is not a month's evidence. Under the floor the row is unranked and shows its day count. A feed that stops loses its hours: the harness drops a rate nobody refreshed for five minutes rather than repeat it. Venues added on 2026-09-22 and 23 start under the floor.
  • Interval normalisation is the venue's: Hyperliquid, Vest, StandX and ApeX settle hourly, Kalshi every 8 hours (three settlements a day), the CEX rows per their own schedule; every row is expressed as cost per 24h before integrating.
  • This page does not replace perp-funding (bench 036), which ranks the rate right now; it ranks what the last month cost.
  • A dormant market reads as an expensive one over thirty days. Coinbase International settled its last funding on 1 October 2026 and reports zero notional on 24h, daily and 30 day volume, so the feed kept relaying that final rate: 9.36 bps a day on ETH for twenty of these thirty days, ranking it last at 227 bps against 91 for the next worst. It left the cohort on 21 October. Freshness checks stayed green, because they read a refresh timestamp and a repeated value advances one.

Results: 22 venues ranked by Funding paid, 30d ETH long (30 days at the average daily rate)

Funding paid to hold an ETH perp long for 30 days, per venue, live: Funding paid, 30d ETH long per venue (30 days at the average daily rate).
№VenuesTotalSuccess
1Vestzk perp exchange, hourly funding, joined 2026-09-22-53.6 bps100.0% (n=720)
2DeribitCEX reference, 8 h funding, via the Mobula funding feed24.5 bps100.0% (n=720)
3BybitCEX reference, 8 h funding, via the Mobula funding feed26.8 bps100.0% (n=720)
4MEXCCEX reference, 8 h funding, via the Mobula funding feed31.9 bps100.0% (n=720)
5GateCEX reference, 8 h funding, via the Mobula funding feed33.7 bps100.0% (n=720)
6OKXCEX reference, 8 h funding, via the Mobula funding feed34.4 bps100.0% (n=720)
7BinanceCEX reference, 8 h funding (4 h on some pairs), via the Mobula funding feed39.9 bps100.0% (n=720)
8Lighter RHLighter deployment for Robinhood, hourly funding (native)41.4 bps100.0% (n=720)
9BitgetCEX reference, 8 h funding, via the Mobula funding feed42.1 bps100.0% (n=720)
10KuCoinCEX reference, 8 h funding, via the Mobula funding feed42.7 bps100.0% (n=720)
11edgeXStarkEx order book, 4h funding (native)45.0 bps100.0% (n=719)
12AsterBNB Chain order book, 8h funding (native)48.1 bps100.0% (n=720)
13Lighterzk-rollup order book, hourly funding50.5 bps100.0% (n=720)
14StandXDUSD-margined perps on BNB Chain, hourly funding, joined 2026-09-2254.6 bps100.0% (n=720)
15HyperliquidOnchain order book, hourly funding56.3 bps100.0% (n=720)
16Ondo PerpsSGX-matched order book, hourly funding57.6 bps100.0% (n=720)
17KalshiCFTC-regulated US exchange, 8 h funding, joined 2026-09-2257.9 bps100.0% (n=720)
18KrakenCEX reference, hourly funding, via the Mobula funding feed60.6 bps100.0% (n=720)
19ExtendedStarknet order book, hourly funding (native)65.7 bps100.0% (n=717)
20ApeX OmniOmnichain order book, hourly funding, joined 2026-09-2276.9 bps100.0% (n=720)
21PacificaSolana order book, hourly funding (native)81.6 bps100.0% (n=720)
22PolymarketPolygon perps by Polymarket89.6 bps100.0% (n=720)

Frequently asked

How is the 30-day funding cost computed?

The harness records every minute the venue's current funding rate normalised to the cost of holding a long for 24 hours. The bench averages that series over the trailing 30 days on an hourly grid and multiplies by 30: a month of funding at the average daily cost the venue quoted, in basis points of notional. A venue ranks only with 24 days behind that average; with fewer the row shows its day count and no rank. The 7-day figure is the same average over 7 days times 7.

Why is the number negative on some venues?

Funding is signed. When the perp trades below spot, shorts pay longs and a long collects funding; the cost is then negative. Lower ranks first, so on such a month the venue that paid longs the most is at the top.

Is this what I would have paid?

For a long of constant notional held the whole window on a venue with a full month measured, yes, to the precision of a per-minute sample of the quoted rate. A position opened mid-window, resized, or held on a venue that settles funding in discrete 8-hour steps (Kalshi) pays the settlements it was open for; the bench does not model entries and exits. A rate no source refreshed for five minutes is dropped, not repeated, so hours the harness could not read leave the average (at most five minutes of a last value can precede a gap, ten on edgeX and ApeX, which read a ticker cache).

Why are CEXs on a perp DEX bench?

Because the reference a carry trader compares a DEX against is Binance, Bybit or OKX. The CEX rows come from the same Mobula funding feed the perp-funding bench uses (so does Hyperliquid's); the other DEX rows and Kalshi come from each venue's own API.

Why do Kalshi, Vest, StandX and ApeX show a low-sample badge?

They joined the cohort on 2026-09-22 (Extended, edgeX, Pacifica, Aster and Lighter RH on 2026-09-23). Their figure is a month at the average daily cost of the days measured since then; the sample count on the row says how many hours are behind it. The badge goes at 15 days (half a month of samples), the provisional label and the rank come at 576 hours, 24 days.

Source code github.com/ChainBench/OpenChainBench/tree/main/harnesses/perp-cohort-stats