# PerpRadar — Funding Digest · 2026-09-30

Perpetual-futures funding across **Binance, Bybit, OKX, Hyperliquid**. Positive APR = longs pay shorts. All figures annualized from current funding.

## 🔥 Longs paying up — shorts get paid to hold

| Coin | Avg APR | Binance | Bybit | OKX | Hyperliquid | OI |
|---|---|---|---|---|---|---|
| **USELESS** | +72.5% | +42.4% | +69.4% | – | +106% | $12M |
| **MON** | +28.5% | +11.0% | +11.0% | – | +63.5% | $44M |
| **PUMP** | +35.6% | +11.0% | – | – | +60.2% | $305M |
| **XMR** | +26.4% | +11.0% | +11.0% | – | +57.2% | $71M |
| **VVV** | +24.1% | +11.0% | +11.0% | – | +50.3% | $67M |
| **AERO** | +21.9% | +11.0% | +11.0% | – | +43.9% | $33M |
| **ZEC** | +16.2% | +11.0% | +11.0% | – | +26.6% | $723M |
| **ETHFI** | +9.9% | +11.0% | +11.0% | -6.0% | +23.9% | $24M |

*Classic play: short the perp on the highest-APR venue, hold spot to stay delta-neutral, collect the funding.*

## 🧊 Shorts paying up — longs get paid to hold

| Coin | Avg APR | Binance | Bybit | OKX | Hyperliquid | OI |
|---|---|---|---|---|---|---|
| **TRX** | -5.5% | +6.0% | -49.9% | +11.0% | +11.0% | $15M |
| **AVAX** | -10.8% | -3.8% | -41.4% | -8.9% | +11.0% | $40M |
| **ARB** | -6.7% | -6.6% | -12.3% | -18.9% | +11.0% | $26M |

## ⚖️ Widest cross-venue spreads — market-neutral

Go long the perp where funding is cheapest, short it where it is richest. No spot leg, no directional risk — just the gap.

| Coin | Avg APR | Binance | Bybit | OKX | Hyperliquid | OI | Long → Short | Spread APR |
|---|---|---|---|---|---|---|---|---|
| **USELESS** | +72.5% | +42.4% | +69.4% | – | +106% | $12M | Binance → Hyperliquid | **+63.4%** |
| **TRX** | -5.5% | +6.0% | -49.9% | +11.0% | +11.0% | $15M | Bybit → Hyperliquid | **+60.9%** |
| **MON** | +28.5% | +11.0% | +11.0% | – | +63.5% | $44M | Binance → Hyperliquid | **+52.6%** |
| **AVAX** | -10.8% | -3.8% | -41.4% | -8.9% | +11.0% | $40M | Bybit → Hyperliquid | **+52.3%** |
| **PUMP** | +35.6% | +11.0% | – | – | +60.2% | $305M | Binance → Hyperliquid | **+49.3%** |
| **XMR** | +26.4% | +11.0% | +11.0% | – | +57.2% | $71M | Binance → Hyperliquid | **+46.2%** |
| **VVV** | +24.1% | +11.0% | +11.0% | – | +50.3% | $67M | Binance → Hyperliquid | **+39.4%** |
| **AERO** | +21.9% | +11.0% | +11.0% | – | +43.9% | $33M | Binance → Hyperliquid | **+32.9%** |

## 📈 Biggest 24h funding swings

| Coin | Avg APR now | ~24h ago | Δ |
|---|---|---|---|
| **USELESS** | +72.5% | +34.8% | ▲ +37.7% |
| **MON** | +28.5% | -7.3% | ▲ +35.8% |
| **XLM** | +8.9% | -9.0% | ▲ +17.9% |
| **PUMP** | +35.6% | +18.1% | ▲ +17.5% |
| **ADA** | +10.1% | -7.0% | ▲ +17.1% |
| **ARB** | -6.7% | +9.9% | ▼ +16.6% |
| **AVAX** | -10.8% | +5.0% | ▼ +15.7% |
| **XMR** | +26.4% | +10.9% | ▲ +15.4% |

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Coverage: 251 contracts · 55 above $10M OI. Binance & Bybit rates via Hyperliquid's predicted-funding feed.

**Not financial advice.** Funding rates move every hour; spreads shown are gross of fees, slippage and borrow cost.