USUAL funding rates and arbitrage

USUAL perpetuals trade on 11 contracts across 11 venues, forming 55 cross-venue arbitrage pairs. By net APR the current best pair is long Binance against short Kraken, netting +9.47%, though note the legs settle on different cadences (4h / 1h)。

USUAL 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
BingX	USUAL-USDT	USDT	4h	0.0050%	+10.95%	+10.95%	$1.3M	0.01026
Binance	USUALUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$988K	0.01026
LBank	USUALUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$907K	0.01025
WhiteBIT	USUAL_PERP	USDT	4h	0.0050%	+10.95%	+10.95%	$360K	0.01027
MEXC	USUAL_USDT	USDT	4h	0.0050%	+10.95%	+10.95%	$113K	0.01026
Hyperliquid	USUAL	USDC	1h	0.0013%	+10.95%	+11.21%	$110K	0.01028
Bybit	USUALUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$76K	0.01027
Bitget	USUALUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$50K	0.01026
Gate	USUAL_USDT	USDT	8h	0.0100%	+10.95%	+11.32%	$25K	0.01027
KuCoin	USUALUSDTM	USDT	4h	0.0050%	+10.95%	+9.23%	$21K	0.01027
Kraken	PF_USUALUSD	USD	1h	0.0023%	+20.42%	+33.91%	$1	0.01026

USUAL 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
Binance USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
BingX USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
Bitget USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
Bybit USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
Gate USDT	Kraken USD	+9.47%	0.0260%	+22.59%	8h / 1h	$1
Hyperliquid USDC	Kraken USD	+9.47%	0.0260%	+22.71%	1h matched	$1
KuCoin USDT	Kraken USD	+9.47%	0.0260%	+24.68%	4h / 1h	$1
LBank USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
MEXC USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
WhiteBIT USDT	Kraken USD	+9.47%	0.0260%	+22.96%	4h / 1h	$1
Binance USDT	BingX USDT	0.00%	0.0000%	0.00%	4h matched	$988K
Binance USDT	Bitget USDT	0.00%	0.0000%	+0.00%	4h matched	$50K

Usual project profile

Website Whitepaper GitHub Discord

Key facts

Total: 1.98B
Max supply: 3.00B
Type: Token
Market cap rank: #819

Decentralized Finance (DeFi)BNB Chain EcosystemEthereum EcosystemReal World Assets (RWA)Base EcosystemCoinbase Ventures PortfolioStablecoin IssuerYZi Labs (Prev. Binance Labs) Portfolio

Contract addresses

ethereum0xc4441c2be5d8fa8126822b9929ca0b81ea0de38e

binance0x4acd4d03af6f9cc0fb7c5f0868b7b6287d7969c5

base0x4acd4d03af6f9cc0fb7c5f0868b7b6287d7969c5

Block explorers

etherscan.io intel.arkm.com ethplorer.io bscscan.com binplorer.com basescan.org

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

UVXY+47.7%VANA+32.8%VET+57.9%WET+3.4%WOO+62.6%XLE+25.0%YB+0.8%ZHIPU+106.9%ZIL+97.3%ZKP+3.3%ZRX+47.1%ACH+58.3%

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