Funding Rate Arbitrage
A delta-neutral carry scanner: long the perpetual where funding is lowest, short it where funding is highest, and collect the spread. Ranked by annualized APR across major venues.
Best Opportunity
17968.5% APR spread
Gate
Long Venue (Best Pair)
funding +0.0000%
Lighter
Short Venue (Best Pair)
funding +2.0512%
50
Pairs Scanned
refreshed every 2 minutes
Cross-Exchange Funding Spreads
Sorted by annualized APR of the funding spread
| # | Coin | Long On | Long Funding | Short On | Short Funding | Spread | APR |
|---|---|---|---|---|---|---|---|
| 1 | +0.0000% | +2.0512% | +2.0512% | 17968.5% | |||
| 2 | -2.4539% | +0.0025% | +2.4564% | 5376.8% | |||
| 3 | -2.0000% | +0.0013% | +2.0012% | 4390.9% | |||
| 4 | -0.0095% | +0.3736% | +0.3831% | 3283.1% | |||
| 5 | -0.7445% | -0.1148% | +0.6296% | 1504.7% | |||
| 6 | -0.3419% | -0.1850% | +0.1569% | 1374.1% | |||
| 7 | +0.0000% | +0.1328% | +0.1328% | 1163.3% | |||
| 8 | -1.0000% | -0.0200% | +0.9800% | 919.8% | |||
| 9 | -0.6746% | -0.0795% | +0.5951% | 780.6% | |||
| 10 | -2.0000% | -0.4178% | +1.5822% | 720.3% | |||
| 11 | -0.0624% | +0.0127% | +0.0751% | 657.9% | |||
| 12 | -0.2876% | -0.0200% | +0.2676% | 607.9% | |||
| 13 | -0.2580% | +0.0050% | +0.2630% | 576.0% | |||
| 14 | -0.1824% | +0.0050% | +0.1874% | 404.9% | |||
| 15 | +0.0000% | +0.3595% | +0.3595% | 393.7% | |||
| 16 | -0.3273% | +0.0008% | +0.3281% | 359.3% | |||
| 17 | +0.0253% | +0.3420% | +0.3167% | 346.8% | |||
| 18 | -0.3034% | +0.0100% | +0.3134% | 343.1% | |||
| 19 | -0.2489% | +0.0571% | +0.3060% | 335.1% | |||
| 20 | -0.1402% | +0.0180% | +0.1582% | 326.7% | |||
| 21 | -0.2802% | +0.0100% | +0.2902% | 317.8% | |||
| 22 | -0.2875% | +0.0000% | +0.2875% | 314.8% | |||
| 23 | -0.1508% | -0.0214% | +0.1294% | 306.9% | |||
| 24 | -0.2611% | +0.0051% | +0.2662% | 291.5% | |||
| 25 | -0.1027% | +0.1616% | +0.2643% | 289.4% | |||
| 26 | +0.0000% | +0.2603% | +0.2603% | 285.0% | |||
| 27 | -0.2500% | +0.0050% | +0.2550% | 284.7% | |||
| 28 | -0.1297% | +0.1295% | +0.2592% | 283.8% | |||
| 29 | +0.0046% | +0.2955% | +0.2910% | 283.8% | |||
| 30 | -0.2439% | +0.0050% | +0.2489% | 278.0% | |||
| 31 | +0.0000% | +0.2538% | +0.2538% | 277.9% | |||
| 32 | -0.1199% | +0.0050% | +0.1249% | 273.5% | |||
| 33 | -0.1228% | +0.1241% | +0.2469% | 270.4% | |||
| 34 | +0.0050% | +0.2500% | +0.2450% | 262.8% | |||
| 35 | -0.2280% | +0.0100% | +0.2380% | 260.6% | |||
| 36 | -0.0886% | +0.0186% | +0.1073% | 260.3% | |||
| 37 | -0.2180% | +0.0050% | +0.2230% | 249.7% | |||
| 38 | -0.1063% | +0.0050% | +0.1113% | 243.8% | |||
| 39 | -0.0264% | +0.0100% | +0.0364% | 242.2% | |||
| 40 | +0.0040% | +0.1123% | +0.1083% | 241.6% | |||
| 41 | +0.0000% | +0.2157% | +0.2157% | 236.2% | |||
| 42 | +0.0050% | +0.1101% | +0.1051% | 230.2% | |||
| 43 | -0.0248% | +0.0100% | +0.0348% | 228.2% | |||
| 44 | -0.2476% | -0.0427% | +0.2049% | 224.4% | |||
| 45 | -0.1883% | +0.0149% | +0.2032% | 222.5% | |||
| 46 | -0.0266% | -0.0022% | +0.0244% | 213.7% | |||
| 47 | -0.0041% | +0.0942% | +0.0983% | 210.7% | |||
| 48 | -0.0694% | +0.0528% | +0.1222% | 209.8% | |||
| 49 | -0.0902% | +0.0050% | +0.0952% | 208.5% | |||
| 50 | -0.1890% | +0.0000% | +0.1890% | 206.9% |
APR assumes the current spread persists — it rarely does. Execution costs, funding interval mismatches between venues and margin requirements all eat into the quoted carry. Check per-exchange rates on the funding rate page and cumulative history on accumulated funding.
How Funding Arbitrage Works
The trade
Buy the perp on the venue paying longs (negative or low funding), sell the same size on the venue charging longs the most. Price exposure nets to zero; the funding differential is the yield.
The risks
Spreads compress fast, funding flips sign, and a leg can be liquidated in a violent move if margins aren't balanced. This page is a scanner, not an execution recommendation.
Methodology & Sources
- Sources
- Aggregated exchange derivatives APIs (current perpetual funding rates per venue)
- Coverage
- Perpetual markets on Binance, OKX, Bybit, Bitget, Gate, Hyperliquid and further major venues
- Formulas
- For each coin, the venue with the lowest current funding rate is the long leg and the venue with the highest is the short leg; Spread = short-leg funding − long-leg funding, and APR annualizes that spread at three 8h settlements per day.
- Update frequency
- Refreshes roughly every 2 minutes.
- Units & timezone
- Funding rates are shown per 8h interval unless annualized (APR) is labeled; all monetary values USD; timestamps UTC.
- Anomaly handling
- Exchanges that stop reporting are dropped from aggregates rather than carried forward; obvious outliers (bad ticks, decimal errors) are filtered before aggregation.