Funding Divergence

What it is

The funding rate on a BTC or ETH perpetual splits by at least 0.02% (2 basis points) between the richest and cheapest of three venues — Bybit, KuCoin and OKX.

Why it matters

Every major venue runs the same funding mechanism on the same underlying, so their rates normally sit close together. When they separate, positioning has gone lopsided on one book relative to another — a dislocation between two venues, not a view on where price is going.

How to read the alert

The alert names the pair, the venue paying the richest funding, the venue paying the cheapest, and the exact spread between them. Funding is settled periodically, so the spread describes a difference in carrying cost between two books at that moment — a measurement, with no claim about what price does next.

Sample alert

🔀 Funding divergence · BTC
KUCOIN vs OKX — 0.031% apart

ℹ️ Information only, not financial advice.

Each alert includes

• The pair — BTC or ETH
• The venue with the richest funding rate
• The venue with the cheapest funding rate
• The exact spread between them