Vest funding rates and fees
Vest lists 24 perpetual markets and settles funding hourly, at 0.050% taker / 0.020% maker. 3 of those markets have a counterparty on another venue with a book deep enough to trade against. The widest right now is short ETH here against Hibachi, paying +6.07% annualized after both venues' taker fees.
Vest (now Vest Markets) is a perps venue with no order book: trades are priced by a risk engine against one shared liquidity pool and settled in USDC. It started as a crypto perp DEX backed by Jane Street and QCP Capital and now lists mostly US equities, indices, FX and commodities alongside crypto. Because there is no book, your fill and the funding you pay come from that engine rather than from resting orders — which makes it behave differently from every order-book venue it is paired against.
The pairs
Where Vest is worth trading — and against whom.
Every market here, matched against the venue that opens the widest funding gap against it. The axis draws both rates on one scale, and the lit bar between them is the spread — the money. Net APR is what that spread pays after both venues' taker fees, held a week.
| Market | Your side here | On Vest | -19% · 0 · +13% | Best counterparty | Net APR |
|---|---|---|---|---|---|
| EETH | Short | -2.78% |  Hibachi-19.27% | +6.07%+16.50% gross · 4.4d to break evenbooks $5.50M · $2.43M | |
| BBTC | Long | -1.55% |  Extended+11.39% | +2.51%+12.94% gross · 5.6d to break evenbooks $1.75M · $224.30M | |
| SSPY | Long | +5.00% |  Binance+12.67% | -2.76%+7.67% gross · 9.5d to break evenbooks $1.27M · $47.06M |
Show the 21 pairs on books too thin to trade
| Market | Your side here | On Vest | -25% · 0 · +56% | Best counterparty | Net APR |
|---|---|---|---|---|---|
| HHOOD | Long | +5.00% |  Lighter+52.56% | +38.17%+47.56% gross · 33h to break evenbooks $185.99K · $979.08K | |
| SSNDK | Long | +5.00% |  Bybit+53.37% | +37.42%+48.37% gross · 38h to break evenbooks $299.57K · $66.56M | |
| CCOIN | Long | +5.00% | Binance+52.32% | +36.89%+47.32% gross · 37h to break evenbooks $4.82K · $50.75M | |
| CCRCL | Long | +8.26% |  Aster+54.82% | +36.13%+46.56% gross · 38h to break evenbooks $97.61K · $1.40M | |
| HHYPE | Long | +10.95% | Hibachi+56.06% | +34.68%+45.11% gross · 39h to break evenbooks $170.75K · $455.58K |
Show the 16 other thin pairs
| Market | Your side here | On Vest | -25% · 0 · +56% | Best counterparty | Net APR |
|---|---|---|---|---|---|
| TTSLA | Long | +5.00% | Aster+42.30% | +26.87%+37.30% gross · 47h to break evenbooks $337.48K · $81.73K | |
| SSOL | Short | +10.95% | Hibachi-24.53% | +25.05%+35.48% gross · 2.1d to break evenbooks $4.41M · $608.77K | |
| NNVDA | Short | +11.34% |  Nado-19.10% | +20.01%+30.44% gross · 2.4d to break evenbooks $736.85K · — | |
| AAAPL | Short | +5.00% | Nado-17.77% | +12.34%+22.77% gross · 3.2d to break evenbooks $134.87K · — | |
| SSPX | Short | +1.46% |  Pacifica-19.25% | +10.29%+20.72% gross · 3.5d to break evenbooks $366.79K · $76.84K | |
| AAMZN | Short | +5.00% | Nado-15.55% | +10.12%+20.55% gross · 3.6d to break evenbooks $208.61K · — | |
| XXRP | Long | +10.95% | Hibachi+29.78% | +8.40%+18.83% gross · 3.9d to break evenbooks — · $66.01K | |
| MMSTR | Long | +2.48% | Pacifica+10.95% | -1.96%+8.47% gross · 8.6d to break evenbooks $275.52K · $105.18K | |
| QQQQ | Short | +5.00% | Nado-2.11% | -3.32%+7.11% gross · 10.3d to break evenbooks $102.20K · — | |
| BBMNR | Short | +6.97% | Aster+0.00% | -3.46%+6.97% gross · 10.5d to break evenbooks $401.08K · $42.79K | |
| MMETA | Short | +5.00% | Nado-1.49% | -3.94%+6.49% gross · 11.2d to break evenbooks $374.58K · — | |
| GGOOGL | Long | +5.00% |  Orderly+10.95% | -4.48%+5.95% gross · 12.3d to break evenbooks $17.04K · $1.11K | |
| PPLTR | Long | +5.00% | Pacifica+10.95% | -4.48%+5.95% gross · 12.3d to break evenbooks $134.13K · $15.43K | |
| AAMD | Short | +5.00% | Aster+0.00% | -5.43%+5.00% gross · 14.6d to break evenbooks $1.15M · $88.20K | |
| IINTC | Short | +5.00% | Aster+0.00% | -5.43%+5.00% gross · 14.6d to break evenbooks $400.03K · $158.85K | |
| MMSFT | Short | +5.00% | Aster+0.00% | -5.43%+5.00% gross · 14.6d to break evenbooks $260.09K · $29.07K |
A pair counts as tradable when both legs did more than $1.00Mof volume in the last 24 hours: a wide spread across two thin books is arithmetic, not a trade. Rates are annualized and 8h-normalized, so an hourly venue and an 8-hour one are directly comparable. Net APR can be negative — the fees have eaten the spread — and those pairs are shown greyed rather than hidden, because “not worth it” is an answer. Funding is a floating rate: it can flip before it has paid you back.
The book
Every market on Vest
All 24 perpetuals Vest quotes, with the funding rate each one is paying right now. Only 23 of them report volume, so the venue total above is understated rather than wrong.
| EETH | $1,878.79 | -2.78% | 1h | $5.50M | — |
| SSOL | $77.57 | +10.95% | 1h | $4.41M | — |
| BBTC | $64,783.6 | -1.55% | 1h | $1.75M | — |
| SSPY | $752.24 | +5.00% | 1h | $1.27M | — |
| AAMD | $551.48 | +5.00% | 1h | $1.15M | — |
| NNVDA | $212.80 | +11.34% | 1h | $736.85K | — |
| BBMNR | $16.31 | +6.97% | 1h | $401.08K | — |
| IINTC | $109.74 | +5.00% | 1h | $400.03K | — |
| MMETA | $659.96 | +5.00% | 1h | $374.58K | — |
| SSPX | $7,585.02 | +1.46% | 1h | $366.79K | — |
| TTSLA | $396.67 | +5.00% | 1h | $337.48K | — |
| SSNDK | $1,788.24 | +5.00% | 1h | $299.57K | — |
| MMSTR | $98.14 | +2.48% | 1h | $275.52K | — |
| MMSFT | $386.17 | +5.00% | 1h | $260.09K | — |
| AAMZN | $247.96 | +5.00% | 1h | $208.61K | — |
| HHOOD | $113.97 | +5.00% | 1h | $185.99K | — |
| HHYPE | $65.79 | +10.95% | 1h | $170.75K | — |
| AAAPL | $315.17 | +5.00% | 1h | $134.87K | — |
| PPLTR | $133.63 | +5.00% | 1h | $134.13K | — |
| QQQQ | $721.83 | +5.00% | 1h | $102.20K | — |
| CCRCL | $63.08 | +8.26% | 1h | $97.61K | — |
| GGOOGL | $359.50 | +5.00% | 1h | $17.04K | — |
| CCOIN | $162.24 | +5.00% | 1h | $4.82K | — |
| XXRP | $1.11 | +10.95% | 1h | — | — |
The evidence
How much size Vest can absorb
Volume says how much trades here; open interest says how much is actually held. Neither is the reason to put a leg on this venue — the pairs above are — but both decide whether the leg you want will fill.
Each point is the rolling 24-hour figure as of that hour. Vest publishes no open interest, so that series is empty — not a flat line at zero.
FAQ
Vest, answered
What is the funding rate on Vest?
There is no single rate — every market has its own, and it moves every funding period. Across all 24 perpetual markets on Vest right now, the average annualized funding is +5.38%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 5.74% annualized, and that is roughly what being on the right side of it is worth. The live rate for every individual market is in the table on this page.
How often does Vest pay funding?
Vest settles funding hourly, though it does not publish a schedule for the next settlement, so no countdown is shown on this page rather than a guessed one. The interval matters more than it looks: a rate quoted per hour and a rate quoted per eight hours are not comparable until they are put on the same basis, so every figure on this site is normalized to an 8-hour basis before it is compared or ranked.
What are Vest's trading fees?
Vest charges 0.050% to take liquidity and 0.020% to make it. These are the fees used in every net-APR figure on this page: a funding trade pays the taker fee four times (in and out of both legs), which is exactly why a wide spread held briefly can still lose money.
How many markets does Vest list?
We collect 24 perpetual markets from Vest. 23 of them report 24-hour volume, so the venue's volume total is understated rather than complete. Every one is listed with its mark price, funding rate and funding interval in the book on this page.
Which exchange pairs best with Vest for funding arbitrage?
Right now, Hibachi: shorting ETH on Vest against the opposite leg on Hibachi opens a gross funding spread of +16.50% annualized, which is +6.07% after both venues' taker fees. That is one snapshot of a rate that floats — 3 of Vest's markets currently have a counterparty on a book deep enough to trade, and all of them are ranked on this page.
Is Vest good for funding arbitrage?
As one leg, yes: 3 of Vest's 24 markets have a counterparty on another venue where both books cleared $1.00M in the last 24 hours, and its 0.050% taker fee is charged twice in a round trip on this leg. What decides the trade is the OTHER venue — the spread is the distance between two funding rates, so a venue is never good or bad on its own. The pairs above name the counterparty for each market.