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BTC funding rates and arbitrage

BTC perpetuals trade on 27 contracts across 19 venues, forming 343 cross-venue arbitrage pairs. By net APR the current best pair is long Crypto.com against short Coinbase, netting +48.32%, though note the legs settle on different cadences (4h / 1h)ใ€‚

BTC perpetual funding rates by venue

APR = current rate ร— (24 รท settlement interval) ร— 365. Venues settle on different cadences, so rates must be annualised before comparing.

VenueContractMarginSettlementCurrent rateAPR24h avg APR24h volumeMark
BinanceBTCUSDTUSDT8h0.0096%+10.49%+7.55%$12.31B81,900
OKXBTC-USDT-SWAPUSDT8h0.0100%+10.95%+7.60%$5.85B81,899.9
GateBTC_USDTUSDT8h0.0100%+10.95%+4.90%$5.61B81,907
BybitBTCUSDTUSDT8h0.0051%+5.59%+5.95%$4.46B81,897.9
DeribitBTC_USDC-PERPETUALUSDC8h0.0081%+8.84%+8.14%$4.17B81,866.4
BinanceBTCUSDCUSDC8h0.0090%+9.88%+9.16%$3.54B81,827.7
MEXCBTC_USDTUSDT8h0.0095%+10.40%+7.52%$3.00B81,903.2
BitgetBTCUSDTUSDT8h0.0100%+10.95%+5.58%$2.56B81,908.2
HyperliquidBTCUSDC1h0.0013%+10.95%+9.30%$2.56B81,894
DeribitBTC-PERPETUALUSD8h0.0065%+7.16%+6.30%$1.44B81,867.4
LighterBTCUSDC1h0.0012%+10.51%+10.51%$1.02B81,908.3
BingXBTC-USDTUSDT8h0.0100%+10.95%+10.31%$887.7M81,900.1
WhiteBITBTC_PERPUSDT8h0.0100%+10.95%-0.99%$835.0M81,880.9
Crypto.comBTCUSD-PERPUSD4h0.0003%+0.74%+2.24%$427.3M81,850.4
AsterBTCUSDTUSDT8h0.0099%+10.87%+7.66%$410.7M81,895.3
LBankBTCUSDTUSDT8h0.0096%+10.46%+7.55%$382.1M81,901.4
HTXBTC-USDTUSDT8h0.0100%+10.95%+6.92%$377.4M81,888
KrakenPF_XBTUSDUSD1h0.0008%+7.16%+11.68%$365.3M81,861.3
KuCoinXBTUSDTMUSDT8h0.0100%+10.95%+8.00%$355.5M81,897
MEXCBTC_USDCUSDC8h0.0089%+9.75%+9.11%$131.6M81,833.8
BybitBTCPERPUSDC8h0.0079%+8.67%+6.80%$43.5M81,817
BitgetBTCPERPUSDC8h0.0088%+9.64%+10.05%$32.7M81,807.9
BitfinextBTCF0:USTF0USDT8h0.0063%+6.85%+5.31%$20.6M81,926
BingXBTC-USDCUSDC8h0.0100%+10.95%+10.32%$11.5M81,822.9
KuCoinXBTUSDCMUSDC8h0.0100%+10.95%+16.27%$6.8M81,826.7
AsterBTCUSD1USD18h0.0100%+10.95%+8.46%$4.2M81,912
CoinbaseBTC-PERPUSDC1h0.0056%+49.06%+49.06%$084,000

BTC cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg โˆ’ long leg.

LongShortNet APRDaily24h avgSettlementLiquidity
Crypto.com USDCoinbase USDC+48.32%0.1324%+46.82%4h / 1h$0
Bybit USDTCoinbase USDC+43.46%0.1191%+43.11%8h / 1h$0
Bitfinex USDTCoinbase USDC+42.20%0.1156%+43.75%8h / 1h$0
Kraken USDCoinbase USDC+41.90%0.1148%+37.38%1h matched$0
Deribit USDCoinbase USDC+41.89%0.1148%+42.75%8h / 1h$0
Bybit USDCCoinbase USDC+40.39%0.1106%+42.26%8h / 1h$0
Deribit USDCCoinbase USDC+40.22%0.1102%+40.91%8h / 1h$0
Bitget USDCCoinbase USDC+39.42%0.1080%+39.01%8h / 1h$0
MEXC USDCCoinbase USDC+39.31%0.1077%+39.95%8h / 1h$0
Binance USDCCoinbase USDC+39.17%0.1073%+39.90%8h / 1h$0
MEXC USDTCoinbase USDC+38.65%0.1059%+41.53%8h / 1h$0
LBank USDTCoinbase USDC+38.60%0.1057%+41.50%8h / 1h$0

Bitcoin project profile

WebsiteWhitepaperGitHubRedditX (Twitter)
Key facts
Total
20.10M
Max supply
21.00M
Type
Coin
Consensus
Proof of Work
Structure
Decentralized
Algorithm
SHA256
Launched
2009-01-03
Open source
Yes
Market cap rank
#1
SegwitCryptocurrencyProof Of WorkPaymentsSha256MiningLightning NetworkLayer 1 (L1)
Contract addresses
solanaEtBc6gkCvsB9c6f5wSbwG8wPjRqXMB5euptK6bqG1R4X
Block explorers
blockchair.comblockchain.comblockstream.infolive.blockcypher.combtc.cryptoid.info
About

Bitcoin (BTC) is a decentralized digital currency that enables peer-to-peer transactions without intermediaries, using blockchain technology to ensure security and transparency. It was created in 2009 by an anonymous entity known as Satoshi Nakamoto. Source: CoinPaprika.com

Reference data from CoinGecko, independent of the rate data on this site. We do not verify or endorse what these links contain.

Funding rates for other coins

ETH+34.2%SOL+85.9%SUI+837.0%XRP+48.2%AAVE+577.0%ARB+326.9%DOGE+37.4%ENA+41.9%HBAR+342.7%LINK+42.3%LTC+74.5%PEPE+77.3%

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