BLACKBERRY Perpetual Swap Funding Rate by Exchange

BLACKBERRY (BlackBerry Limited (BB)) tokenized / RWA perpetual funding rates — also called perpetual swap funding rates — are aggregated live by exchange across 6 venues on ORBIT. Funding is the recurring payment exchanged between long and short traders that keeps a perpetual swap tethered to the spot price — when it is positive, longs pay shorts; when negative, shorts pay longs. Right now BLACKBERRY funding ranges from -21.04% annualized on Extended to +3.51% on Lighter.

The widest cross-exchange funding spread for BLACKBERRY is currently 24.0% APR. A delta-neutral funding trade captures this gap by going long on Ondo — where funding is lowest, so the long leg is paid or pays the least — and short on Lighter, where funding is highest, so the short leg collects. Because the two legs are equal and opposite, the asset's price moves cancel out and what is left is the funding spread. ORBIT's backtester replays the real funding history of both legs and subtracts live taker fees and order-book slippage, so the result is net PnL, not a headline number.