PerpEquities

ETF

ProShares - UltraShort 20+ Year Treasury (TBT) perpetual futures

TBT perpetual futures on 11 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TBTUSDT.

ProShares - UltraShort 20+ Year Treasury tracked across crypto venues with normalized contract specifications.

$38.67+1.1%NYSE American closed
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Price chart

 

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Collecting venue price data...
venue perp mark · LBank (TBT/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

11/11 live markets
Venues
11
Live markets
11/11
24h volume
$3.5M
Open interest
$19.5MCoverage: 8/11 markets
Best liquidity
$1M
LBank
Tightest spread
+2.6 bps
Gate.io
Highest volume
$2.5M
LBank
Settlement mix
USDT · 11/11
Perp/spot vol.
0.33x
Spot volume $10.7M
OI / float
-
Float $0
Spot performance
1D+1.12%
5D-3.64%
1M-5.48%
6M+10.52%
YTD+10.68%
1Y+21.03%

Venue matrix

11 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
DeepcoinTradeTBT/USDTTrading$38.70-11.0% APR
-0.010% every 8h		+15.5 bps$69.3K$361.9K-USDT25x
XT.comTradeTBT/USDTTrading$38.66+11.0% APR
+0.010% every 8h		+15.5 bps$40.1K$197.4K$18.7MUSDT25x
HTXTradeTBT/USDTTrading$38.67-+100.7 bps$26K$169K-USDT-
MEXCTradeTBT/USDTTrading$38.660.0% APR
0.000% every 8h		+15.5 bps$145.6K$102.7K$151.9KUSDT20x
BitunixTradeTBT/USDTTrading$38.67+3.3% APR
+0.00303% every 8h		+10.3 bps$178.6K$73.3K$118.8KUSDT50x
OurbitTradeTBT/USDTTrading$38.670.0% APR
0.000% every 8h		+15.5 bps$219.8K$60K$118.8KUSDT20x
BinanceTradeTBT/USDTTrading$38.670.0% APR
0.000% every 8h		+15.5 bps$78.6K$30.8K$210.6KUSDT-
BitgetTradeTBT/USDTTrading$38.680.0% APR
0.000% every 8h		+12.2 bps-$9.6K$38.2KUSDT20x
Gate.ioTradeTBT/USDTTrading$38.690.0% APR
0.000% every 8h		+2.6 bps-$5.4K$87.3KUSDT20x
BybitTradeTBT/USDTTrading$38.680.0% APR
0.000% every 8h		+25.9 bps$3.2K$2.2K$81.9KUSDT25x
LBankTradeTBT/USDTTrading$38.670.0% APR
0.000% every 8h		+15.5 bps$1M$2.5M-USDT50x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Adequate liquidity · 7 of 11 venues absorb $10k · Typical cost: +19.0 bps – +24.4 bps

Too thin: Bybit

No fresh book data: HTX, Bitget, Gate.io

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

TBT
LBank · TBT/USDT$1M

Tightest spread

TBT
Gate.io · TBT/USDT+2.6 bps

Highest volume

TBT
LBank · TBT/USDT$2.5M

Funding history

Stored venue snapshots by market

ETF data

ProShares - UltraShort 20+ Year Treasury

TBT
Assets under management$297.29M
Expense ratio0.93%
Net asset value$38.72
Holdings10
InceptionApr 29, 2008
Complex ETF exposure: LeveragedThis fund uses leveraged or synthetic exposure. Reported positions can include derivatives, swaps or collateral and are not a complete look-through of the economic exposure.

Top reported holdings

  1. 1IQMMPROSHARES GENIUS MNY MKT ETF78.28%
  2. 2TBTNet Other Assets (Liabilities)13.28%
  3. 3TBTTREASURY BILL, 0%, due 2026-12-298.44%
  4. 4TBTICE 20+ YEAR U.S. TREASURY INDEX SWAP GOLDMAN SACHS INTERNATIONAL0%
  5. 5TBTICE 20+ YEAR U.S. TREASURY INDEX SWAP MORGAN STANLEY & CO. INTERNATIONAL PLC0%
  6. 6TBTICE 20+ YEAR U.S. TREASURY INDEX SWAP BANK OF AMERICA NA0%
  7. 7TBTICE 20+ YEAR U.S. TREASURY INDEX SWAP SOCIETE GENERALE0%
  8. 8TBTICE 20+ Year U.S. Treasury Index SWAP Barclays Capital0%
  9. 9TBTICE 20+ YEAR U.S. TREASURY INDEX SWAP CITIBANK NA0%
  10. 10TBTUS LONG BOND(CBT) BOND 21/DEC/2026 USZ6 COMDTY0%

Sector allocation

  • Financial Services78.3%
  • Cash & Others21.7%

Country allocation

  • United States82.4%
  • Other17.6%
Provider updated: Oct 24, 2026, 02:29 PM UTCFetched: Oct 24, 2026, 09:47 PM UTCSource: FMP

Next catalyst

Catalysts

No unusual perp activity right now.

Frequently asked questions

Where can I trade TBT perpetual futures?

ProShares - UltraShort 20+ Year Treasury (TBT) perpetual futures trade on 11 crypto venues, including LBank, Deepcoin, XT.com. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade TBT around the clock?

Yes. Unlike the underlying stock, TBT perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on TBT perpetuals?

Right now the TBT perp funding rate is 0.0% annualized (venue median), ranging from -11.0% to +11.0% across 11 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

What is a TBT perpetual future?

A TBT perpetual is a derivative that tracks the price of ProShares - UltraShort 20+ Year Treasury with no expiry date. It lets you take long or short exposure to ProShares - UltraShort 20+ Year Treasury on crypto venues, around the clock.

Other ETF perps

All ETF perps compared →

Also listed on LBank

Also listed on Deepcoin

Also listed on XT.com

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