BTC funding rate on Phoenix
Over the last 30 days, BTC funding on Phoenix averaged +9.6% APR and stayed positive 84.5% of the time, ranging from -50.9% to +42.0%. Right now it pays longs pay shorts at +14.9% APR, settled every 1h across 25 venues we track. The most reliable delta-neutral pairing for BTC right now is long HotStuff / short TxFlow at +0.9% net APR (high risk, ~6.4d to break even).
BTC funding history on Phoenixlast 30d
- Backtested (30d)
- +590.8%
- Stability
- 71.1%
- Risk
- high
- Breakeven
- ~6.4d
Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.
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How BTC funding compares across venues
| Exchange | Funding APR |
|---|---|
| Phoenix | +14.93% |
| Extended | +11.39% |
| Polymarket | +10.95% |
| Arcus | +10.95% |
| SoDEX | +10.95% |
| Katana | +10.93% |
| Decibel | +10.51% |
| Lighter RH | +10.51% |
| Lighter | +10.51% |
| Paradex | +9.91% |
| Kraken | +9.72% |
| Ondo | +8.67% |
| Hyperliquid | +8.66% |
| Grvt | +5.80% |
| TxFlow | +5.21% |
| Variational | +3.57% |
| Nado | +1.10% |
| dYdX | +0.00% |
| Hibachi | -1.10% |
| Aster | -3.38% |
| RiseX | -4.81% |
| n1xyz | -5.26% |
| HotStuff | -8.76% |
| Pacifica | -10.83% |
| Perpl | -48.89% |
Frequently asked
What is the current BTC funding rate on Phoenix?
BTC on Phoenix is funding at 14.93% APR (0.0017% every 1h), paid longs pay shorts, as of 2026-09-05 20:01 UTC.
How often does Phoenix pay funding on BTC?
Every 1 hour.
How do I earn BTC funding without price risk?
Open a delta-neutral position: long HotStuff and short TxFlow, currently 0.9% net APR (high risk). The two legs cancel price exposure so you keep the funding spread.