SHEIN funding rates and arbitrage
SHEIN perpetuals trade on 9 contracts across 9 venues, forming 36 cross-venue arbitrage pairs. By net APR the current best pair is long OKX against short Crypto.com, netting +101.14%, though note the legs settle on different cadences (8h / 4h)ใ
SHEIN 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.
| Venue | Contract | Margin | Settlement | Current rate | APR | 24h avg APR | 24h volume | Mark |
|---|---|---|---|---|---|---|---|---|
| LBank | SHEINUSDT | USDT | 8h | 0.0000% | 0.00% | 0.00% | $785K | 4.760 |
| HTX | SHEIN-USDT | USDT | 1h | 0.0000% | 0.00% | 0.00% | $164K | 4.727 |
| MEXC | SHEINSTOCK_USDT | USDT | 8h | 0.0000% | 0.00% | 0.00% | $104K | 4.770 |
| OKX | SHEIN-USDT-SWAP | USDT | 8h | -0.0221% | -24.18% | -0.35% | $38K | 4.758 |
| Bybit | SHEINUSDT | USDT | 8h | 0.0000% | 0.00% | 0.00% | $34K | 4.770 |
| Bitget | SHEINUSDT | USDT | 8h | 0.0000% | 0.00% | 0.00% | $20K | 4.765 |
| Gate | SHEIN_USDT | USDT | 8h | 0.0000% | 0.00% | 0.00% | $2K | 4.739 |
| Lighter | SHEIN | USDC | 1h | 0.0004% | +3.50% | +3.50% | $517 | 4.748 |
| Crypto.com | SHEINUSD-PERP | USD | 4h | 0.0351% | +76.96% | +1.22% | $0 | 4.770 |
SHEIN cross-venue arbitrage pairs
Short the higher-APR leg and go long the lower one; net APR = short leg โ long leg.
| Long | Short | Net APR | Daily | 24h avg | Settlement | Liquidity |
|---|---|---|---|---|---|---|
| OKX USDT | Crypto.com USD | +101.14% | 0.2771% | +1.57% | 8h / 4h | $0 |
| Bitget USDT | Crypto.com USD | +76.96% | 0.2109% | +1.22% | 8h / 4h | $0 |
| Bybit USDT | Crypto.com USD | +76.96% | 0.2109% | +1.22% | 8h / 4h | $0 |
| Gate USDT | Crypto.com USD | +76.96% | 0.2109% | +1.22% | 8h / 4h | $0 |
| HTX USDT | Crypto.com USD | +76.96% | 0.2109% | +1.22% | 1h / 4h | $0 |
| LBank USDT | Crypto.com USD | +76.96% | 0.2109% | +1.22% | 8h / 4h | $0 |
| MEXC USDT | Crypto.com USD | +76.96% | 0.2109% | +1.22% | 8h / 4h | $0 |
| Lighter USDC | Crypto.com USD | +73.46% | 0.2013% | -2.29% | 1h / 4h | $0 |
| OKX USDT | Lighter USDC | +27.68% | 0.0758% | +3.86% | 8h / 1h | $517 |
| OKX USDT | Bitget USDT | +24.18% | 0.0662% | +0.35% | 8h matched | $20K |
| OKX USDT | Bybit USDT | +24.18% | 0.0662% | +0.35% | 8h matched | $34K |
| OKX USDT | Gate USDT | +24.18% | 0.0662% | +0.35% | 8h matched | $2K |
SHEIN project profile
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Funding rates for other coins
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