Funding rate arbitrage scanner for perp traders
Find long/short funding routes, compare the carry, and filter out weak setups before they reach your trading workflow.
What the scanner looks for
A funding arbitrage route pairs a long position on one perpetual venue with a short position on another. The scanner ranks routes where the funding spread may compensate the trader over time.
SypherScore combines raw funding rates with entry gap, exchange availability, stability signals, volume warnings, and backtest shortcuts so the list is not just sorted by headline APY.
- Long venue and short venue shown directly on each card.
- AI score helps prioritize routes worth deeper review.
- Risk labels highlight slippage, low stability, sign flips, and unfavorable entry gaps.
Why AI ranking matters
The highest displayed funding spread is not always the best trade. A route with unstable funding, poor entry, or thin market depth can look attractive and still be impractical.
AI Top Pairs is designed to surface routes that deserve attention first, then route the trader into backtesting and execution tools.
- Use AI Top Pairs for discovery.
- Use Funding for raw venue comparison.
- Use Backtester before turning a route into a position.
What a scanner should show and usually does not
Most scanners rank by annualised rate, which is the one number that says least about whether the route is tradeable. What decides that is the depth on the thinner leg, how long the current sign has persisted, and what a full round trip costs on those two venues.
A route at 40% annualised on a book that cannot absorb your size is worth less than a route at 12% you can enter and leave. The ranking has to reflect that or it is sorting by danger.
- Depth on the thinner leg is the binding constraint, not the rate.
- Persistence beats magnitude: a rate that has held for days is collectable.
- Round-trip cost has to be subtracted before any comparison means anything.
Using a scanner without being used by it
Treat the list as a filter that removes hundreds of routes, not as a recommendation about the handful that remain. Before committing, open the two venues and check the same three things by hand: the depth at your size, the funding interval on both sides, and whether the spread you are counting on has been there for more than a few minutes.
The routes that disappear while you are checking were never yours. That is not a failure of the scanner; it is the scanner working.
- Shortlist with the scanner, decide with the venue.
- Check depth at your size, not top-of-book.
- A route that vanishes during the check was not tradeable to begin with.
Questions
Is high APY enough to trade a funding route?
No. APY must be reviewed with entry gap, liquidity, funding stability, execution cost, and exchange-specific risk.
Can the scanner miss temporary opportunities?
Any scanner can miss short-lived dislocations. SypherScore balances broad scans with deeper scans so the site stays responsive while still refreshing opportunities regularly.
How many venues should a funding scanner cover?
Enough that the same asset appears on several, because the opportunity is the difference between venues rather than the rate on any one of them. Breadth matters more than depth of history for this purpose.
Is a free funding scanner good enough?
For finding candidates, yes: the underlying rates are public data. What paid tools add is usually history and alerting. Neither replaces checking the depth on the thinner leg before you commit.