TBT
ProShares UltraShort 20+ Year Treasury
Funding Rates by Exchange
| Exchange | Funding APR↓ | Interval | Open Interest↕ | Mark Price↕ |
|---|---|---|---|---|
 Gate.ioBest Short | +10.96% | 8h | $70K | $38.4 |
 Bitget | +0.00% | 8h | $49K | $38.447 |
 HTX | +0.00% | 8h | $6K | $38.18 |
 Bitunix | -8.36% | 8h | — | $38.37 |
 CoinW | -47.94% | 8h | — | $38.37 |
 Bybit | -65.45% | 8h | $41K | $38.17 |
 Hotcoin | -65.65% | 8h | $33K | $38.19 |
 MEXC | -67.39% | 8h | $114K | $38.4 |
 WEEX | -71.21% | 8h | $0K | $38.37 |
 LBank | -73.09% | 8h | — | $38.37 |
 ToobitBest Long | -75.07% | 8h | $4K | $38.31 |
TBT funding rates explained
Funding data updated 02:10 UTC, 2026-08-17
TBT (ProShares UltraShort 20+ Year Treasury) tokenized / RWA perpetual funding rates are tracked live across 11 exchanges on ORBIT. Funding is the recurring payment exchanged between long and short traders that keeps a perpetual contract tethered to the spot price — when it is positive, longs pay shorts; when negative, shorts pay longs. Right now TBT funding ranges from -75.07% annualized on Toobit to +10.96% on Gate.io.
The widest cross-exchange funding spread for TBT is currently 86.0% APR. A delta-neutral funding trade captures this gap by going long on Toobit — where funding is lowest, so the long leg is paid or pays the least — and short on Gate.io, 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.
TBT ranks #730 by open interest among tracked perpetual assets, total open interest across covered venues is $316K, 24h volume is $1.7M, the volume-weighted mark price is $38.3505. Deeper liquidity means a funding spread can be traded at larger size with lower slippage — use the Min OI filter on the screener to surface only markets you can realistically enter and exit.
Frequently asked questions
- Which exchange has the highest TBT funding rate right now?
- Gate.io shows the highest TBT funding at +10.96% annualized. A high positive rate means shorts get paid, so this is the venue to short TBT when running a funding-arbitrage pair. Rates change every settlement window — check the live screener for the current value.
- Which exchange is best to long TBT for funding?
- Toobit has the lowest TBT funding at -75.07% annualized, which makes the long leg cheapest (or paid). Pair it with the highest-funding venue to capture the spread delta-neutral.
- What is the best TBT funding-arbitrage pair?
- The widest spread is long Toobit / short Gate.io at about 86.0% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.