BTC funding rate on Phoenix
Over the last 5.3 days, BTC funding on Phoenix averaged -0.5% APR and stayed positive 54.3% of the time, ranging from -16.6% to +14.5%. Right now it pays longs pay shorts at +3.6% APR, settled every 1h across 25 venues we track. The most reliable delta-neutral pairing for BTC right now is long Aster / short Katana at +5.9% net APR (low risk, ~3.5d to break even).
BTC funding history on Phoenixlast 5d
- Backtested (30d)
- +7.9%
- Stability
- 100%
- Risk
- low
- Breakeven
- ~3.5d
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 |
|---|---|
| dYdX | +33.06% |
| Perpl | +17.52% |
| Ondo | +10.95% |
| Katana | +10.95% |
| Hyena | +10.95% |
| Arcus | +10.95% |
| Grvt | +10.95% |
| EdgeX | +10.95% |
| Hyperliquid | +10.36% |
| RiseX | +9.32% |
| Decibel | +7.88% |
| Ethereal | +7.22% |
| Kraken | +5.85% |
| Paradex | +5.30% |
| Phoenix | +3.59% |
| 01xyz | +3.50% |
| Lighter | +2.63% |
| Variational | +2.61% |
| Pacifica | +1.45% |
| Hibachi | +0.00% |
| Aster | -0.17% |
| SoDEX | -2.80% |
| Nado | -5.71% |
| Extended | -6.13% |
| HotStuff | -9.64% |
Frequently asked
What is the current BTC funding rate on Phoenix?
BTC on Phoenix is funding at 3.59% APR (0.0004% every 1h), paid longs pay shorts, as of 2026-07-22 21:20 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 Aster and short Katana, currently 5.9% net APR (low risk). The two legs cancel price exposure so you keep the funding spread.