AI funding arbitrage signals: how to read this ranking

Every row here is a funding route: a long on one venue against a short on another, with the rate you would collect and what it takes to hold the position. The list is ordered by a composite score rather than by annualised rate, because ordering by rate orders by danger: the largest rates sit on the thinnest books and on assets in the middle of a violent move.

What goes into the score

• The rate, and how long it has held. A modest rate that has persisted for days is worth more than a spike that appeared an hour ago and will be gone by the time both legs are open.
• Depth on the thinner leg. A route is only as good as its worst side. The leg you cannot fill at size decides what the route is worth to you.
• The cost of the round trip. Two legs in and two legs out means four fee events. Until that total is subtracted, an annualised figure says nothing.
• How far the two marks can drift. The position is neutral to price and exposed to the relationship between the venues; that relationship is what breaks first.

What the score cannot do

It describes what has been true. It makes no claim about the next hour, and it does not know your size. Use it to shorten a list of several hundred routes to a handful, then look at the underlying numbers (the spread history, the depth on the thinner leg, the funding interval on both venues) before committing anything.

The most useful thing a ranking does is remove noise: the dozens of routes that look attractive for a few minutes and are gone. That is a real service, and it is a different service from prediction.

Common questions

Why is the highest APY not at the top?

Because the highest APY is usually the route you least want. Extreme rates appear where the book is thin or the asset is moving hard, which are exactly the conditions in which the position is hardest to hold and most expensive to exit.

How often does the ranking change?

Continuously, because funding is recomputed on each venue's own schedule and the book moves between those points. What matters is not how fresh the number is but whether the condition has persisted long enough to still be there when both legs are filled.

Can I trade the top row automatically?

You can, and you should not treat it as a decision. Whether the top route is tradeable depends on your size against the depth on the thinner leg, which no ranking can know for you.

More on the same subject: how funding signals are built · the cost stack of a funding trade · how funding rates are computed · backtesting a route · all guides