Funding and open interest
Funding rates across sixteen venues in one table
Funding is the payment between longs and shorts every few hours. A coin can pay +40% a year on one venue and nothing on the next: that difference is the trade, if you stand on both sides. VVARB shows the rate for every coin on every venue, weighted by open interest, the richest and cheapest leg, the spread between them - and what it pays on your position at the next settlement.
Carry between venues
Short where funding is highest, long where it is lowest, for the same amount. The coin price stops mattering - the return is purely the difference in rates. The screener drops what cannot be executed: a leg is only taken from contracts turning over a million a day, otherwise the widest spread on screen would always belong to a dead coin pinned against its venue funding cap.
Open interest: how much money is standing in the contracts
Open interest rises as positions are built and falls as they are closed. Read against price it shows who is being squeezed: building into a rise means longs are piling in; building into a fall means shorts are; closing into a rise looks like shorts covering. The server writes open interest down every five minutes and keeps the history on disk, so the 1h and 24h columns survive a deployment.
- Every venue on its own line: settlement period, turnover, open interest
- The average rate is weighted by open interest, not by venue count
- A filter by which side is being paid - that is, which way the crowd is leaning
- A venue that did not report a rate is not counted as zero
Where the data comes from
From the same screener that runs the futures arbitrage: 16 venues, polled every few seconds. This table asks the exchanges for nothing extra - it shows what has already been collected, so its numbers are exactly as fresh as the screener behind them.
What to do with it
The simple use is carry: stand on both sides and collect the difference every eight hours. The more interesting one is as an indicator - when a coin’s rate lurches one way while open interest climbs, the market is lopsided, and that shows here before it shows on a price chart.
See the current rates
Once you sign up the table opens in full, on data eight hours old - enough to see how it works and to check it against rates that have already been paid. A subscription makes it live: the rate on screen is the one running right now.
Sign up and open it