M funding rates
M perpetual funding across 8 venues. Rates are annualized (APR); positive means longs pay shorts.
· refreshed every 5 min
- Best pair · 7d
- 23.7%long Binance, short Variational · net 21.1%
- Highest funding now
- 10.9%AsAster
- Lowest funding now
- 10.9%AsAster
- Listed on
- 8 venues
Funding by venue
| 7d chart | Flags | Open | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AsAster | MUSDT | 10.9% | 10.9% | 11.4% | 20.6% | 11.4% | 100% | 4h | 04:00 | 0.9239 | $4k | $6k | AsAster | ||
| RwRWA Perp | PERP_M_USDC | 10.9% | 11.0% | 10.9% | 10.9% | 10.9% | 100% | 4h | 04:00 | 0.923 | $1k | $443k | RwRWA Perp | ||
| BnBinanceCEX | MUSDT | 10.9% | 10.9% | 12.5% | 29.3% | 12.8% | 100% | 4h | 04:00 | 0.9228 | $3.9M | $1.7M | BnBinance | ||
| ByBybitCEX | MUSDT | 10.9% | 10.9% | 12.5% | 13.9% | 12.7% | 100% | 4h | 04:00 | 0.9231 | $2.7M | $707k | ByBybit | ||
| BgBitgetCEX | MUSDT | 10.9% | 10.9% | 12.3% | 23.5% | 12.5% | 100% | 4h | 04:00 | 0.9239 | $1.4M | $448k | BgBitget | ||
| GtGateCEX | M_USDT | 10.9% | 9.5% | 10.7% | 10.6% | 10.9% | 99% | 8h | 08:00 | 0.9224 | $1.6M | $561k | GtGate | ||
| MxMEXCCEX | M_USDT | 10.9% | 10.9% | 12.3% | 29.5% | 12.5% | 100% | 4h | 04:00 | 0.9228 | $141k | $141k | MxMEXC | ||
| VaVariational | M | 10.9% | 10.9% | 32.6% | 36.5% | 36.2% | 100% | 4h | — | 0.9249 | $73k | $8k | VaVariational |
Sparklines: hourly funding APR over the last 7 days, zero line dashed.
Long/short pairs
| Spread APR | After taker fees | Quality | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7d trend | Flags | Open | Calc | |||||||||||
| BnBinanceCEX | VaVariational | 0.0% | 0.0% | 23.7% | 2.9% | 21.1% | 31.6% | 1.5d | cooling | $73k | spread not incl. | BnVa | calc | |
| MxMEXCCEX | VaVariational | 0.0% | 0.0% | 20.3% | 7.0% | 19.2% | 28.9% | 0.7d | cooling | $73k | spread not incl. | MxVa | calc | |
| GtGateCEX | VaVariational | 0.0% | 1.4% | 21.9% | 26.0% | 18.0% | 26.9% | 2.5d | cooling | $73k | 8h/4hspread not incl. | GtVa | calc | |
| ByBybitCEX | VaVariational | 0.0% | 0.0% | 20.1% | 22.6% | 17.3% | 25.9% | 2.0d | cooling | $73k | spread not incl. | ByVa | calc | |
| BgBitgetCEX | VaVariational | 0.0% | 0.0% | 20.3% | 13.0% | 17.2% | 25.8% | 2.2d | cooling | $73k | spread not incl. | BgVa | calc | |
| AsAster | VaVariational | 0.0% | 0.0% | 21.2% | 15.9% | 19.2% | 28.7% | 1.4d | cooling | $4k | low OIspread not incl. | AsVa | calc | |
| GtGateCEX | MxMEXCCEX | 0.0% | 1.4% | 1.6% | 19.0% | −3.4% | −5.0% | 44d | weak | $141k | 8h/4h | GtMx | calc | |
| BnBinanceCEX | MxMEXCCEX | 0.0% | 0.0% | 0.0% | 0.1% | −3.6% | −5.4% | >999d | weak | $141k | BnMx | calc | ||
| MxMEXCCEX | ByBybitCEX | 0.0% | 0.0% | 0.1% | −15.6% | −3.8% | −5.6% | 369d | weak | $141k | MxBy | calc | ||
| BgBitgetCEX | MxMEXCCEX | 0.0% | 0.0% | 0.0% | 6.0% | −4.1% | −6.2% | >999d | weak | $141k | BgMx | calc | ||
| AsAster | MxMEXCCEX | 0.0% | 0.0% | 1.0% | 8.9% | −2.2% | −3.3% | 46d | weak | $4k | low OI | AsMx | calc | |
| GtGateCEX | BnBinanceCEX | 0.0% | 1.4% | 1.8% | 18.4% | −4.7% | −7.0% | 50d | weak | $1.6M | 8h/4h | GtBn | calc | |
| GtGateCEX | ByBybitCEX | 0.0% | 1.4% | 1.7% | 3.3% | −5.0% | −7.6% | 55d | weak | $1.6M | 8h/4h | GtBy | calc | |
| BnBinanceCEX | ByBybitCEX | 0.0% | 0.0% | 0.2% | −15.1% | −5.3% | −7.9% | 385d | weak | $2.7M | BnBy | calc | ||
| GtGateCEX | BgBitgetCEX | 0.0% | 1.4% | 1.6% | 12.9% | −5.5% | −8.2% | 63d | weak | $1.4M | 8h/4h | GtBg | calc | |
| BgBitgetCEX | BnBinanceCEX | 0.0% | 0.0% | 0.0% | 3.1% | −5.7% | −8.6% | >999d | weak | $1.4M | BgBn | calc | ||
| BgBitgetCEX | ByBybitCEX | 0.0% | 0.0% | 0.2% | −9.6% | −5.8% | −8.7% | 454d | weak | $1.4M | BgBy | calc | ||
| AsAster | BnBinanceCEX | 0.0% | 0.0% | 1.1% | 8.9% | −3.6% | −5.4% | 60d | weak | $4k | low OI | AsBn | calc | |
| AsAster | ByBybitCEX | 0.0% | 0.0% | 1.1% | −6.7% | −3.8% | −5.8% | 63d | weak | $4k | low OI | AsBy | calc | |
| AsAster | BgBitgetCEX | 0.0% | 0.0% | 0.9% | 2.9% | −4.3% | −6.4% | 79d | weak | $4k | low OI | AsBg | calc | |
| GtGateCEX | AsAster | 0.0% | 1.4% | 0.6% | 10.1% | −5.4% | −8.0% | 133d | weak | $4k | low OI8h/4h | GtAs | calc | |
What the columns and badges mean
- now
- Current funding spread APR: short-leg rate minus long-leg rate, annualized.
- 24h
- Average spread APR over the last 24 hours, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
- 7d
- Average spread APR over the last 7 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet). Used for ranking and net APR.
- 30d
- Average spread APR over the last 30 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
- 7d trend
- Spread APR over the last 7 days in 6-hour averages; the dashed line is zero.
- Net APR
- 7d spread APR minus taker fees to open and close both legs, spread over the holding period: net = spread7d − fees × 365 / days. Per unit of notional per leg.
- On capital
- Net APR on the capital posted for both legs at this leverage: net × leverage / 2.
- Breakeven
- Days of 7d-average funding needed to pay back open+close taker fees.
- Min OI
- Smaller open interest of the two legs, USD.
- steady
- Steady: prior-week spread at least 5% APR, last 24h positive and no spike, positive now. Not negative in X% of hours over 7 days.
- spike
- The last 24h spread is far above the prior 6-day average (more than 3×, or above 15% APR after a weak prior) — it may not last.
- mixed
- The spread was negative too often: not negative in only X% of hours over 7 days.
- new
- Less than 4 days of shared history in the prior week: stability cannot be judged yet.
- weak
- Prior-week spread under 5% APR: too small to call steady.
- cooling
- The prior week was solid, but the last 24h or the current spread is not positive.
- ≠ asset?
- Mark prices differ by N bps — these may be different assets under one ticker, or contracts of a different size (e.g. per 1,000 coins). Verify before trading.
- stale
- At least one leg has not updated for over 30 minutes.
- low OI
- Open interest under $50k on at least one leg — size carefully.
- 8h/1h
- Funding intervals differ (8h vs 1h): payments are not simultaneous.
- TradFi
- Tokenized stock, index or commodity: trading sessions and oracle rules may differ.
- invite only
- Invite-only venue: an account needs an invite code, so it is not selected by default. Tick it in the venue filter to include it.
- spread not incl.
- A leg trades on quotes with no fee (Variational): the cost is the market maker's quote spread, which we cannot see, so the net APR is before it. Compare the quote with the mark price before you trade.
- CEX
- Centralized exchange: trading needs an account with identity verification (KYC).
Prices now
Buy on the row's venue at its ask, sell on the column's venue at its bid; spread before fees.Indicative · marks from 2026-10-12 02:27 UTC
Live quotes are unavailable right now (last update: never). Shown instead: indicative spreads between mark prices from the funding snapshot. Marks are taken minutes apart and are not prices you can trade at.
Indicative (mark or mid prices): buy on Gate at 0.9224, sell on Variational at 0.924933: 0.274% before fees, 0.124% after taker fees.
| Buy ↓ · Sell → | VaVariational0.924933 | BgBitget0.9239 | AsAster0.923889 | ByBybit0.9231 | RwRWA Perp0.923 | BnBinance0.922846 | MxMEXC0.9228 | GtGate0.9224 |
|---|---|---|---|---|---|---|---|---|
| GtGate0.9224 | 0.274% | 0.162% | 0.161% | 0.076% | 0.065% | 0.048% | 0.043% | — |
| MxMEXC0.9228 | 0.231% | 0.119% | 0.118% | 0.033% | 0.022% | 0.005% | — | −0.043% |
| BnBinance0.922846 | 0.226% | 0.114% | 0.113% | 0.028% | 0.017% | — | −0.005% | −0.048% |
| RwRWA Perp0.923 | 0.209% | 0.097% | 0.096% | 0.011% | — | −0.017% | −0.022% | −0.065% |
| ByBybit0.9231 | 0.198% | 0.087% | 0.085% | — | −0.011% | −0.028% | −0.033% | −0.076% |
| AsAster0.923889 | 0.113% | 0.001% | — | −0.085% | −0.096% | −0.113% | −0.118% | −0.161% |
| BgBitget0.9239 | 0.112% | — | −0.001% | −0.087% | −0.097% | −0.114% | −0.119% | −0.162% |
| VaVariational0.924933 | — | −0.112% | −0.113% | −0.198% | −0.209% | −0.226% | −0.231% | −0.274% |
All quotes (8)
| Venue | Bid | Ask | Quality | Age | Vol 24h | Flags |
|---|---|---|---|---|---|---|
| AsAster | 0.923889 | 0.923889 | mark | 6m | $6k | no FX |
| BnBinanceCEX | 0.922846 | 0.922846 | mark | 6m | $1.7M | no FX |
| BgBitgetCEX | 0.9239 | 0.9239 | mark | 6m | $448k | no FX |
| ByBybitCEX | 0.9231 | 0.9231 | mark | 6m | $707k | no FX |
| GtGateCEX | 0.9224 | 0.9224 | mark | 6m | $561k | no FX |
| MxMEXCCEX | 0.9228 | 0.9228 | mark | 4m | $141k | no FX |
| RwRWA Perp | 0.923 | 0.923 | mark | 6m | $443k | |
| VaVariational | 0.924933 | 0.924933 | mark | 6m | $8k |
All spreads → · Hatched cells use a mark or mid price, a flagged venue or one outside the default selection.
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