PAPER funding rates and arbitrage

PAPER perpetuals trade on 4 contracts across 4 venues, forming 6 cross-venue arbitrage pairs. By net APR the current best pair is long BingX against short LBank, netting +10.51%, with both legs settling on the same cadence。

PAPER perpetual funding rates by venue

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

Venue	Contract	Margin	Settlement	Current rate	APR	24h avg APR	24h volume	Mark
BingX	PAPER-USDT	USDT	1h	0.0003%	+2.63%	+7.55%	$283K	0.02555
LBank	PAPERUSDT	USDT	1h	0.0015%	+13.14%	-0.67%	$272K	0.02490
MEXC	PAPER_USDT	USDT	1h	0.0015%	+13.14%	+0.19%	$44K	0.02478
Gate	PAPER_USDT	USDT	4h	0.0050%	+10.95%	+10.95%	$11K	0.02463

PAPER cross-venue arbitrage pairs

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

Long	Short	Net APR	Daily	24h avg	Settlement	Liquidity
BingX USDT	LBank USDT	+10.51%	0.0288%	-8.22%	1h matched	$272K
BingX USDT	MEXC USDT	+10.51%	0.0288%	-7.35%	1h matched	$44K
BingX USDT	Gate USDT	+8.32%	0.0228%	+3.40%	1h / 4h	$11K
Gate USDT	LBank USDT	+2.19%	0.0060%	-11.62%	4h / 1h	$11K
Gate USDT	MEXC USDT	+2.19%	0.0060%	-10.76%	4h / 1h	$11K
LBank USDT	MEXC USDT	0.00%	0.0000%	+0.87%	1h matched	$44K

Paper project profile

Website Whitepaper X (Twitter)

Key facts

Max supply: unlimited
Type: Coin

Block explorers

hyperevmscan.io

About

$PAPER is Papertrade's native token. It captures a share of protocol revenue when staked and is minted to traders against losing closes and liquidations.

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

PBR0.0%PUMPFUN+10.9%REGN0.0%RGTI0.0%RIOT0.0%ROK0.0%RONIN+128.5%RTX0.0%SBUX0.0%SI+79.8%SSPC0.0%TMX0.0%

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