DRV funding rates and arbitrage

DRV perpetuals trade on 4 contracts across 4 venues, forming 6 cross-venue arbitrage pairs. By net APR the current best pair is long Bybit against short Aster, netting +56.30%, though note the legs settle on different cadences (4h / 1h)。

DRV perpetual funding rates by venue

APR = current rate × (24 ÷ settlement interval) × 365. Venues settle on different cadences, so rates must be annualised before comparing.

Venue	Contract	Margin	Settlement	Current rate	APR	24h avg APR	24h volume	Mark
LBank	DRVUSDT	USDT	4h	-0.0207%	-45.35%	-55.86%	$3.4M	0.38870
Bybit	DRVUSDT	USDT	4h	-0.0207%	-45.35%	-55.76%	$1.8M	0.38880
Lighter	DRV	USDC	1h	0.0012%	+10.51%	+2.77%	$596K	0.38988
Aster	DRVUSDT	USDT	1h	0.0013%	+10.95%	+10.95%	$93K	0.38986

DRV cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg − long leg.

Long	Short	Net APR	Daily	24h avg	Settlement	Liquidity
Bybit USDT	Aster USDT	+56.30%	0.1542%	+66.71%	4h / 1h	$93K
LBank USDT	Aster USDT	+56.30%	0.1542%	+66.81%	4h / 1h	$93K
Bybit USDT	Lighter USDC	+55.86%	0.1530%	+58.53%	4h / 1h	$596K
LBank USDT	Lighter USDC	+55.86%	0.1530%	+58.64%	4h / 1h	$596K
Lighter USDC	Aster USDT	+0.44%	0.0012%	+8.18%	1h matched	$93K
Bybit USDT	LBank USDT	0.00%	0.0000%	-0.11%	4h matched	$1.8M

Derive project profile

Website Whitepaper GitHub X (Twitter)Telegram

Key facts

Total: 1.50B
Max supply: 1.50B
Type: Token
Market cap rank: #126

Smart Contract PlatformDecentralized Finance (DeFi)DerivativesOptionsPerpetualsArbitrum EcosystemEthereum EcosystemOptimism Ecosystem

Contract addresses

ethereum0xb1d1eae60eea9525032a6dcb4c1ce336a1de71be

base0x9d0e8f5b25384c7310cb8c6ae32c8fbeb645d083

arbitrum0x77b7787a09818502305c95d68a2571f090abb135

optimistic0x33800de7e817a70a694f31476313a7c572bba100

hyperliquid0x0896dbb30344c65b8727f41c3fe9ef62

hyperevm0x9628bba16db41ea7fe1fd84f9ce53bc27c63f59b

Block explorers

etherscan.io intel.arkm.com optimistic.etherscan.io arbiscan.io explorer.derive.xyz ethplorer.io

About

Derive is a decentralized protocol that creates programmable onchain options, perpetuals, and structured products. Derive is deployed and operates on Derive Chain, an Ethereum rollup built using the OP stack and is the home of the Derive Protocol. It is a permission-less smart contract platform. The Derive DAO earns trading fees from the Derive Protocol and gas fees from the Derive Chain, governed by DRV token holders. Trading fees accrue to an insurance fund to foster robustness of the protocol and rollup. Derive has built an AI-powered trading app built for pro traders. In collaboration with Messari, Derive Pro translates market views into trades. The agent then prepares transactions for users and leverages smart contract wallets to make trades one-click, gasless and chainless. The app will support spot, perps and options trading on Derive, and will also plug in to spot AMMs on L2s like Optimism, Arbitrum and Base.

Reference data from CoinGecko, independent of the rate data on this site. We do not verify or endorse what these links contain.

Funding rates for other coins

EUR+65.7%FCX0.0%FLR0.0%FLY+86.8%GBP+131.6%GFS0.0%GIGADEV+41.4%GTC+229.9%INTU0.0%JP225+5.5%LIN0.0%LULU0.0%

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