The honest, net-of-cost answer for BTC & ETH funding carry. Computed from public data · window 2026-09-05 → 2026-10-05 · as of 2026-10-05, updated weekly.
| Funding APY (the headline) | +5.20% |
| Net of costs (what you'd keep) | +2.20% |
| Risk-free reference | ~4.5% |
| Funding APY (the headline) | +4.77% |
| Net of costs (what you'd keep) | +1.56% |
| 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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We show exactly how every number is computed, and the script that reproduces it is open source. Read the methodology →