CarryScope
Analytics only · no execution, custody, or advice

Is crypto carry worth it right now?

The honest, net-of-cost answer for BTC & ETH funding carry. Computed from public data · window 2026-05-16 → 2026-06-15 · as of 2026-06-15, updated weekly.

Bitcoin (BTC)
Not worth it right now
Funding APY (the headline)+3.98%
Net of costs (what you'd keep)+0.93%
Risk-free reference~4.5%
Ethereum (ETH)
Not worth it right now
Funding APY (the headline)+2.80%
Net of costs (what you'd keep)-0.11%
Risk-free reference~4.5%

The funding dashboards traders already use show you the gross number (the top row). CarryScope subtracts the costs those dashboards leave out: trading fees and the basis half-spread. When the net (the middle row) sits below the risk-free rate, the carry isn't paying you for the operational risk. How this is computed →

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How it works

  1. Same data, honest math. We start from the same funding and basis rate the popular funding dashboards show you, then subtract the costs those dashboards leave out: trading fees and the basis half-spread.
  2. We compare it to risk-free. A carry below what you'd earn risk-free isn't worth the liquidation and operational risk.
  3. Coming for subscribers: risk-adjusted columns (Sharpe, max drawdown, a bear-market drawdown), a regime signal, alerts, and more symbols.

We show exactly how every number is computed, and the script that reproduces it is open source. Read the methodology →