The trade behind the numbers
STRC funding rates, explained
Every venue prices STRC funding on its own book and its own clock. The gap between the cheapest and the richest is the whole trade — here is where it sits today, and what is left of it after fees.
Tokenized stock
STRC is a tokenized stock
STRC here is a tokenized Strategy STRC Preferred perpetual — an on-chain contract that tracks the Strategy STRC Preferred share price, tradable with leverage across 5 crypto venues without a brokerage account. You hold the perp, not the real share; it pays or charges funding to stay pinned to the stock.
That funding is the catch. Strategy STRC Preferred's real market keeps a fixed session — closed overnight and at weekends — while the perp charges funding around the clock. Its market is closed right now, so the rate is being annualized against a shut underlying: the APR inflates into a number no one can actually earn. Read the current 8h funding, not the headline APR, whenever the market is closed.
The spread
How the STRC spread is traded
Why the gap exists
The venues disagree, and that is the trade
A perpetual future never expires, so exchanges tether it to spot with a funding payment: a positive rate means longs pay shorts, a negative one means shorts pay longs. Every venue sets its own rate, on its own schedule, from its own order book — so the same contract can pay on one exchange and charge on another at the very same minute.
Hold both legs in equal size and the price risk cancels: whatever STRC does, one leg gains what the other loses. What is left is the funding difference — an annualized 7.08% here, -1.78% once the round-trip fee of $1.70 per $1,000 is paid. Close before roughly 210 hours and it loses money however wide the spread looks — which is why break-even sits next to every number.
See the same maths applied across every coin on the strategy board and the markets table.
FAQ
Questions about STRC funding
Can I trade Strategy STRC Preferred with leverage on-chain?
Yes — STRC is a tokenized Strategy STRC Preferred perpetual listed on 5 crypto venues, so you can go long or short with leverage without a stock brokerage. It tracks the Strategy STRC Preferred share price but settles in crypto; you hold the perp, not the underlying share.
Why is tokenized Strategy STRC Preferred funding so high at night and on weekends?
Strategy STRC Preferred's real market is closed outside its trading session, but the perp keeps charging funding around the clock to hold its peg. When the underlying is shut the rate often spikes, and annualizing that spike produces an APR no one can actually earn — which is why we lead with the current 8h rate for stocks while the market is closed.
Which exchanges list tokenized Strategy STRC Preferred (STRC)?
5 venues we track quote STRC perpetuals, currently cheapest to long on Binance and richest to short on Hyperliquid. The table above lists the live rate on each.
What is the STRC funding rate right now?
Binance is paying 0.0000% per 8h, while Hyperliquid charges 0.0008% per 1h. The table above lists the current rate on all 5 venues that quote STRC perpetuals.
Which exchange has the best STRC funding rate?
It depends on your side. A long pays least on Binance; a short earns most on Hyperliquid. Running both at once captures the gap between them without taking a directional bet on STRC.
How is the annualized STRC funding APR calculated?
Each venue pays funding on its own schedule — hourly, four-hourly or eight-hourly. We normalize every rate to a common period and compound it over a year, so venues on different schedules can be compared on one axis. Fees are then subtracted over the intended hold to give the net APR.
Is STRC funding arbitrage risk-free?
No. The price risk is hedged, but fees, a rate that flips mid-hold, liquidation on one leg through margin imbalance, withdrawal delays and exchange risk all remain. Net APR and break-even tell you whether the trade survives its own costs — not whether the venues survive.
More tokenized stocks
Other tokenized stocks
Every tokenized equity we track, with the same market-hours read on its funding.
More markets
Funding rates for other coins
The widest spreads on the board right now, net of both venues' taker fees — long the first venue, short the second.
