ETH funding rate on Variational
Over the last 30 days, ETH funding on Variational averaged +6.0% APR and stayed positive 92.4% of the time, ranging from -15.7% to +10.9%. Right now it pays longs pay shorts at +7.0% APR, settled every 8h across 25 venues we track. The most reliable delta-neutral pairing for ETH right now is long HotStuff / short Katana at +14.4% net APR (high risk, ~1.6d to break even).
ETH funding history on Variationallast 30d
- Backtested (30d)
- +442.4%
- Stability
- 91%
- Risk
- high
- Breakeven
- ~1.6d
Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.
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How ETH funding compares across venues
| Exchange | Funding APR |
|---|---|
| Phoenix | +13.12% |
| Extended | +11.39% |
| Hyperliquid | +10.95% |
| Pacifica | +10.95% |
| Polymarket | +10.95% |
| Arcus | +10.95% |
| Bulk | +10.95% |
| Katana | +10.93% |
| Lighter RH | +10.51% |
| Lighter | +10.51% |
| Aster | +10.00% |
| RiseX | +9.97% |
| Paradex | +9.13% |
| Decibel | +7.88% |
| Kraken | +7.28% |
| Variational | +7.04% |
| SoDEX | +6.25% |
| TxFlow | +2.94% |
| Nado | +0.96% |
| dYdX | +0.22% |
| Hibachi | -1.64% |
| Grvt | -2.96% |
| HotStuff | -8.76% |
| Ondo | -14.72% |
| Perpl | -48.89% |
Frequently asked
What is the current ETH funding rate on Variational?
ETH on Variational is funding at 7.04% APR (0.0064% every 8h), paid longs pay shorts, as of 2026-09-12 12:50 UTC.
How often does Variational pay funding on ETH?
Every 8 hours.
How do I earn ETH funding without price risk?
Open a delta-neutral position: long HotStuff and short Katana, currently 14.4% net APR (high risk). The two legs cancel price exposure so you keep the funding spread.