Net Carry Monitor · Issue 2026-10

Net carry, October 2026

Gross funding is the number funding dashboards quote. Net is what is left after the costs of holding the trade.

In progress, partial month: 1 Oct 2026, 00:00 UTC → 21 Oct 2026, 00:00 UTC. The figures will change when the month closes and the issue is re-run.

Funding received vs kept, per coin

Dumbbell chart: for each coin, funding received and the amount kept after taker fees, slippage and rebalancing, per 1,000 USDT, 2026-10. Hypothetical.−4−3−2−10+1+2break-evenBTC (BTCUSDT), per 1,000 USDT: funding received +2.00 · taker fees −2.02 · slippage −2.02 · rebalancing (2×) −0.05 · kept −2.09 USDT. 61 funding settlements. Hypothetical, paper calculation.BTC+2.00−2.09SOL (SOLUSDT), per 1,000 USDT: funding received +1.75 · taker fees −2.03 · slippage −2.03 · rebalancing (2×) −0.26 · kept −2.57 USDT. 61 funding settlements. Hypothetical, paper calculation.SOL+1.75−2.57ETH (ETHUSDT), per 1,000 USDT: funding received +1.72 · taker fees −2.03 · slippage −2.03 · rebalancing (2×) −0.23 · kept −2.58 USDT. 61 funding settlements. Hypothetical, paper calculation.ETH+1.72−2.58BNB (BNBUSDT), per 1,000 USDT: funding received +1.26 · taker fees −2.03 · slippage −2.03 · rebalancing (2×) −0.13 · kept −2.92 USDT. 61 funding settlements. Hypothetical, paper calculation.BNB+1.26−2.92XRP (XRPUSDT), per 1,000 USDT: funding received +1.08 · taker fees −2.02 · slippage −2.02 · rebalancing (2×) −0.24 · kept −3.19 USDT. 61 funding settlements. Hypothetical, paper calculation.XRP+1.08−3.19
Dumbbell chart: for each coin, funding received and the amount kept after taker fees, slippage and rebalancing, per 1,000 USDT, 2026-10. Hypothetical.−4−20+2break-evenBTC (BTCUSDT), per 1,000 USDT: funding received +2.00 · taker fees −2.02 · slippage −2.02 · rebalancing (2×) −0.05 · kept −2.09 USDT. 61 funding settlements. Hypothetical, paper calculation.BTC+2.00−2.09SOL (SOLUSDT), per 1,000 USDT: funding received +1.75 · taker fees −2.03 · slippage −2.03 · rebalancing (2×) −0.26 · kept −2.57 USDT. 61 funding settlements. Hypothetical, paper calculation.SOL+1.75−2.57ETH (ETHUSDT), per 1,000 USDT: funding received +1.72 · taker fees −2.03 · slippage −2.03 · rebalancing (2×) −0.23 · kept −2.58 USDT. 61 funding settlements. Hypothetical, paper calculation.ETH+1.72−2.58BNB (BNBUSDT), per 1,000 USDT: funding received +1.26 · taker fees −2.03 · slippage −2.03 · rebalancing (2×) −0.13 · kept −2.92 USDT. 61 funding settlements. Hypothetical, paper calculation.BNB+1.26−2.92XRP (XRPUSDT), per 1,000 USDT: funding received +1.08 · taker fees −2.02 · slippage −2.02 · rebalancing (2×) −0.24 · kept −3.19 USDT. 61 funding settlements. Hypothetical, paper calculation.XRP+1.08−3.19
Per 1,000 USDT, in USDT · 1 Oct 2026, 00:00 UTC → 21 Oct 2026, 00:00 UTC · in progress · the gap between the dots is the cost. Hypothetical, paper calculation, net of the stated costs. Not investment advice.

Per 1,000 USDT, in USDT

AssetGross fundingTaker feesSlippageRebalanceNet carrySettlements
BTC+2.00−2.02−2.02−0.05−2.0961
ETH+1.72−2.03−2.03−0.23−2.5861
SOL+1.75−2.03−2.03−0.26−2.5761
XRP+1.08−2.02−2.02−0.24−3.1961
BNB+1.26−2.03−2.03−0.13−2.9261

Hypothetical, net of the stated costs. Binance USDⓈ-M funding, as of 21 Oct 2026, 00:00 UTC.

From funding received to kept

BTC + ETH + SOL + XRP + BNB combined, on 5 × 1,000 USDT

Waterfall chart: funding received, minus taker fees, slippage and rebalancing, equals the amount kept, BTC, ETH, SOL, XRP, BNB combined on 5 × 1,000 USDT, 2026-10. Hypothetical.−15−10−50+5+10Funding received: +7.81 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.+7.81Funding receivedTaker fees: −10.12 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−10.12Taker feesSlippage: −10.12 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−10.12SlippageRebalancing: −0.91 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−0.91RebalancingKept: −13.35 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−13.35Kept
Waterfall chart: funding received, minus taker fees, slippage and rebalancing, equals the amount kept, BTC, ETH, SOL, XRP, BNB combined on 5 × 1,000 USDT, 2026-10. Hypothetical.−15−10−50+5+10Funding received: +7.81 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.+7.81FundingTaker fees: −10.12 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−10.12FeesSlippage: −10.12 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−10.12SlippageRebalancing: −0.91 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−0.91Rebal.Kept: −13.35 USDT, all coins combined, on 5 × 1,000 USDT. Hypothetical.−13.35Kept

Per coin, per 1,000 USDT, one shared scale

  • BTCkept −2.09

    Funding received: +2.00 USDT, BTC, per 1,000 USDT. Hypothetical.Taker fees: −2.02 USDT, BTC, per 1,000 USDT. Hypothetical.Slippage: −2.02 USDT, BTC, per 1,000 USDT. Hypothetical.Rebalancing: −0.05 USDT, BTC, per 1,000 USDT. Hypothetical.Kept: −2.09 USDT, BTC, per 1,000 USDT. Hypothetical.

  • ETHkept −2.58

    Funding received: +1.72 USDT, ETH, per 1,000 USDT. Hypothetical.Taker fees: −2.03 USDT, ETH, per 1,000 USDT. Hypothetical.Slippage: −2.03 USDT, ETH, per 1,000 USDT. Hypothetical.Rebalancing: −0.23 USDT, ETH, per 1,000 USDT. Hypothetical.Kept: −2.58 USDT, ETH, per 1,000 USDT. Hypothetical.

  • SOLkept −2.57

    Funding received: +1.75 USDT, SOL, per 1,000 USDT. Hypothetical.Taker fees: −2.03 USDT, SOL, per 1,000 USDT. Hypothetical.Slippage: −2.03 USDT, SOL, per 1,000 USDT. Hypothetical.Rebalancing: −0.26 USDT, SOL, per 1,000 USDT. Hypothetical.Kept: −2.57 USDT, SOL, per 1,000 USDT. Hypothetical.

  • XRPkept −3.19

    Funding received: +1.08 USDT, XRP, per 1,000 USDT. Hypothetical.Taker fees: −2.02 USDT, XRP, per 1,000 USDT. Hypothetical.Slippage: −2.02 USDT, XRP, per 1,000 USDT. Hypothetical.Rebalancing: −0.24 USDT, XRP, per 1,000 USDT. Hypothetical.Kept: −3.19 USDT, XRP, per 1,000 USDT. Hypothetical.

  • BNBkept −2.92

    Funding received: +1.26 USDT, BNB, per 1,000 USDT. Hypothetical.Taker fees: −2.03 USDT, BNB, per 1,000 USDT. Hypothetical.Slippage: −2.03 USDT, BNB, per 1,000 USDT. Hypothetical.Rebalancing: −0.13 USDT, BNB, per 1,000 USDT. Hypothetical.Kept: −2.92 USDT, BNB, per 1,000 USDT. Hypothetical.
In USDT · 1 Oct 2026, 00:00 UTC → 21 Oct 2026, 00:00 UTC · in progress · bars in order: funding received, taker fees, slippage, rebalancing, kept. Hypothetical, paper calculation, net of the stated costs. Not investment advice.

Method carry-1.0

A hypothetical 1,000 USDT long spot / short perpetual on Binance, opened at the window’s first funding settlement and closed at the window end. Gross is every funding payment to the short, with its sign. Net subtracts taker fees and slippage on entry and exit, both legs, and the cost of resetting both legs to 1,000 USDT every 7 days. A missing funding interval marks the row incomplete; nothing is interpolated.

spot (long): taker 5 bps, slippage 5 bps · USDⓈ-M perp (short): taker 5 bps, slippage 5 bps

What this is not: a forecast, a signal, or a return anyone earned. It is a paper calculation on public funding history, net of the costs stated.

Download CSVdatapackage.json

CC BY 4.0. Not investment advice.