COW funding rates
COW perpetual funding across 7 venues. Rates are annualized (APR); positive means longs pay shorts.
· refreshed every 5 min
- Best pair · 7d
- 1.8%long MEXC, short Bybit · net −2.1%
- Highest funding now
- 10.9%AsAster
- Lowest funding now
- 10.9%AsAster
- Listed on
- 7 venues
Funding by venue
| 7d chart | Flags | Open | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AsAster | COWUSDT | 10.9% | 10.9% | 10.9% | −5.3% | 10.9% | 100% | 4h | 04:00 | 0.1524 | $23k | $201 | AsAster | ||
| BnBinanceCEX | COWUSDT | 10.9% | 10.9% | 10.9% | −2.7% | 10.9% | 100% | 4h | 04:00 | 0.1524 | $1.7M | $696k | BnBinance | ||
| ByBybitCEX | COWUSDT | 10.9% | 10.9% | 12.8% | 2.4% | 13.1% | 100% | 4h | 04:00 | 0.1527 | $700k | $179k | ByBybit | ||
| BgBitgetCEX | COWUSDT | 10.9% | 10.9% | 10.9% | 0.3% | 10.9% | 100% | 4h | 04:00 | 0.1527 | $465k | $127k | BgBitget | ||
| GtGateCEX | COW_USDT | 10.9% | 12.1% | 11.6% | −2.0% | 11.5% | 100% | 4h | 04:00 | 0.1526 | $192k | $8k | GtGate | ||
| MxMEXCCEX | COW_USDT | 10.9% | 10.9% | 10.9% | 0.1% | 10.9% | 100% | 4h | 04:00 | 0.1524 | $460k | $109k | MxMEXC | ||
| VaVariational | COW | 10.9% | 10.9% | 11.6% | −0.8% | 11.7% | 100% | 4h | — | 0.1525 | $13k | $37k | VaVariational |
Sparklines: hourly funding APR over the last 7 days, zero line dashed.
Long/short pairs
| Spread APR | After taker fees | Quality | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7d trend | Flags | Open | Calc | |||||||||||
| MxMEXCCEX | VaVariational | 0.0% | 0.0% | 0.6% | −0.9% | −0.4% | −0.7% | 24d | weak | $13k | low OIspread not incl. | MxVa | calc | |
| MxMEXCCEX | ByBybitCEX | 0.0% | 0.0% | 1.8% | 2.3% | −2.1% | −3.2% | 30d | weak | $460k | MxBy | calc | ||
| AsAster | VaVariational | 0.0% | 0.0% | 0.6% | 4.5% | −1.5% | −2.2% | 48d | weak | $13k | low OIspread not incl. | AsVa | calc | |
| VaVariational | ByBybitCEX | 0.0% | 0.0% | 1.2% | 3.2% | −1.7% | −2.5% | 34d | weak | $13k | low OIspread not incl. | VaBy | calc | |
| BnBinanceCEX | ByBybitCEX | 0.0% | 0.0% | 1.8% | 2.6% | −3.7% | −5.5% | 43d | weak | $700k | BnBy | calc | ||
| BnBinanceCEX | VaVariational | 0.0% | 0.0% | 0.6% | −1.7% | −2.0% | −3.0% | 60d | weak | $13k | low OIspread not incl. | BnVa | calc | |
| BgBitgetCEX | ByBybitCEX | 0.0% | 0.0% | 1.8% | 2.1% | −4.2% | −6.3% | 47d | weak | $465k | BgBy | calc | ||
| MxMEXCCEX | GtGateCEX | 0.0% | 1.1% | 0.7% | −2.1% | −4.3% | −6.4% | 105d | weak | $192k | MxGt | calc | ||
| BgBitgetCEX | VaVariational | 0.0% | 0.0% | 0.6% | −1.1% | −2.5% | −3.8% | 72d | weak | $13k | low OIspread not incl. | BgVa | calc | |
| GtGateCEX | ByBybitCEX | 0.0% | −1.1% | 1.1% | 4.4% | −5.6% | −8.5% | 83d | weak | $192k | GtBy | calc | ||
| BnBinanceCEX | GtGateCEX | 0.0% | 1.1% | 0.7% | 2.3% | −5.9% | −8.8% | 138d | weak | $192k | BnGt | calc | ||
| AsAster | ByBybitCEX | 0.0% | 0.0% | 1.8% | 7.7% | −3.2% | −4.7% | 38d | weak | $23k | low OI | AsBy | calc | |
| BgBitgetCEX | GtGateCEX | 0.0% | 1.1% | 0.7% | −2.2% | −6.4% | −9.6% | 149d | weak | $192k | BgGt | calc | ||
| VaVariational | GtGateCEX | 0.0% | 1.1% | 0.1% | −1.1% | −3.9% | −5.8% | 994d | weak | $13k | low OIspread not incl. | VaGt | calc | |
| AsAster | GtGateCEX | 0.0% | 1.1% | 0.7% | 3.4% | −5.3% | −8.0% | 127d | weak | $23k | low OI | AsGt | calc | |
What the columns and badges mean
- now
- Current funding spread APR: short-leg rate minus long-leg rate, annualized.
- 24h
- Average spread APR over the last 24 hours, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
- 7d
- Average spread APR over the last 7 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet). Used for ranking and net APR.
- 30d
- Average spread APR over the last 30 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
- 7d trend
- Spread APR over the last 7 days in 6-hour averages; the dashed line is zero.
- Net APR
- 7d spread APR minus taker fees to open and close both legs, spread over the holding period: net = spread7d − fees × 365 / days. Per unit of notional per leg.
- On capital
- Net APR on the capital posted for both legs at this leverage: net × leverage / 2.
- Breakeven
- Days of 7d-average funding needed to pay back open+close taker fees.
- Min OI
- Smaller open interest of the two legs, USD.
- steady
- Steady: prior-week spread at least 5% APR, last 24h positive and no spike, positive now. Not negative in X% of hours over 7 days.
- spike
- The last 24h spread is far above the prior 6-day average (more than 3×, or above 15% APR after a weak prior) — it may not last.
- mixed
- The spread was negative too often: not negative in only X% of hours over 7 days.
- new
- Less than 4 days of shared history in the prior week: stability cannot be judged yet.
- weak
- Prior-week spread under 5% APR: too small to call steady.
- cooling
- The prior week was solid, but the last 24h or the current spread is not positive.
- ≠ asset?
- Mark prices differ by N bps — these may be different assets under one ticker, or contracts of a different size (e.g. per 1,000 coins). Verify before trading.
- stale
- At least one leg has not updated for over 30 minutes.
- low OI
- Open interest under $50k on at least one leg — size carefully.
- 8h/1h
- Funding intervals differ (8h vs 1h): payments are not simultaneous.
- TradFi
- Tokenized stock, index or commodity: trading sessions and oracle rules may differ.
- invite only
- Invite-only venue: an account needs an invite code, so it is not selected by default. Tick it in the venue filter to include it.
- spread not incl.
- A leg trades on quotes with no fee (Variational): the cost is the market maker's quote spread, which we cannot see, so the net APR is before it. Compare the quote with the mark price before you trade.
- CEX
- Centralized exchange: trading needs an account with identity verification (KYC).
Prices now
Buy on the row's venue at its ask, sell on the column's venue at its bid; spread before fees.Indicative · marks from 2026-10-12 03:56 UTC
Live quotes are unavailable right now (last update: never). Shown instead: indicative spreads between mark prices from the funding snapshot. Marks are taken minutes apart and are not prices you can trade at.
Indicative (mark or mid prices): buy on Binance at 0.1524, sell on Bybit at 0.15271: 0.203% before fees, −0.007% after taker fees.
| Buy ↓ · Sell → | ByBybit0.15271 | BgBitget0.1527 | GtGate0.1526 | VaVariational0.152536 | AsAster0.152444 | BnBinance0.1524 | MxMEXC0.1524 |
|---|---|---|---|---|---|---|---|
| BnBinance0.1524 | 0.203% | 0.197% | 0.131% | 0.089% | 0.029% | — | 0.000% |
| MxMEXC0.1524 | 0.203% | 0.197% | 0.131% | 0.089% | 0.029% | 0.000% | — |
| AsAster0.152444 | 0.174% | 0.168% | 0.102% | 0.061% | — | −0.029% | −0.029% |
| VaVariational0.152536 | 0.114% | 0.107% | 0.042% | — | −0.061% | −0.089% | −0.089% |
| GtGate0.1526 | 0.072% | 0.066% | — | −0.042% | −0.102% | −0.131% | −0.131% |
| BgBitget0.1527 | 0.007% | — | −0.066% | −0.107% | −0.168% | −0.197% | −0.197% |
| ByBybit0.15271 | — | −0.007% | −0.072% | −0.114% | −0.174% | −0.203% | −0.203% |
All quotes (7)
| Venue | Bid | Ask | Quality | Age | Vol 24h | Flags |
|---|---|---|---|---|---|---|
| AsAster | 0.152444 | 0.152444 | mark | 6m | $201 | no FX |
| BnBinanceCEX | 0.1524 | 0.1524 | mark | 5m | $696k | no FX |
| BgBitgetCEX | 0.1527 | 0.1527 | mark | 5m | $127k | no FX |
| ByBybitCEX | 0.15271 | 0.15271 | mark | 5m | $179k | no FX |
| GtGateCEX | 0.1526 | 0.1526 | mark | 5m | $8k | no FX |
| MxMEXCCEX | 0.1524 | 0.1524 | mark | 6m | $109k | no FX |
| VaVariational | 0.152536 | 0.152536 | mark | 6m | $37k |
All spreads → · Hatched cells use a mark or mid price, a flagged venue or one outside the default selection.
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