NMR funding rates

NMR perpetual funding across 7 venues. Rates are annualized (APR); positive means longs pay shorts.

Data as of 2026-10-12 02:32 UTC · refreshed every 5 min

Best pair · 7d: 104%long Variational, short Lighter · net 104%
Highest funding now: 10.9%BybitCEX
Lowest funding now: −53.0%GateCEX
Listed on: 7 venues

Funding by venue

													Open
BybitCEX	NMRUSDT	10.9%	10.9%	−356%	−95.2%	−417%	76%	4h	04:00	13.80	$4.0M	$3.2M	ByBybit
BitgetCEX	NMRUSDT	10.9%	10.9%	−277%	−66.7%	−326%	57%	4h	04:00	13.79	$2.0M	$1.4M	BgBitget
Variational	NMR	10.9%	10.9%	−356%	−95.9%	−417%	73%	4h	—	13.74	$89k	$14k	VaVariational
Lighter	NMR	10.5%	10.5%	−252%	−63.1%	−296%	71%	1h	03:00	13.91	$56k	$8k	LiLighter
MEXCCEX	NMR_USDT	−18.2%	7.0%	−286%	−82.3%	−335%	46%	4h	04:00	13.81	$3.5M	$648k	MxMEXC
BinanceCEX	NMRUSDT	−18.3%	6.9%	−293%	−118%	−343%	48%	4h	04:00	13.79	$7.0M	$12.8M	BnBinance
GateCEX	NMR_USDT	−53.0%	−20.8%	−306%	−86.2%	−353%	29%	4h	04:00	13.80	$764k	$700k	GtGate

Sparklines: hourly funding APR over the last 7 days, zero line dashed.

Long/short pairs

Funding spreads, annualized: short-leg rate minus long-leg rate.
											Flags	Open	Calc
		Spread APR				After taker fees			Quality
Variational	BitgetCEX	0.0%	0.0%	78.5%	29.2%	75.3%	113%	0.6d	cooling	$89k	spread not incl.	Va Bg	calc
BybitCEX	BitgetCEX	0.0%	0.0%	78.1%	28.5%	72.1%	108%	1.1d	cooling	$2.0M		By Bg	calc
Variational	MEXCCEX	−29.1%	−3.9%	69.6%	13.6%	68.6%	103%	0.2d	cooling	$89k	spread not incl.	Va Mx	calc
Variational	Lighter	−0.4%	−0.4%	104%	32.9%	104%	155%	<0.1d	mixed	$56k	4h/1hspread not incl.	Va Li	calc
BybitCEX	Lighter	−0.4%	−0.4%	103%	32.2%	100%	150%	0.4d	mixed	$56k	4h/1h	By Li	calc
GateCEX	Lighter	63.5%	31.4%	53.5%	23.1%	49.5%	74.3%	1.0d	steady	$56k	4h/1h	Gt Li	calc
BybitCEX	MEXCCEX	−29.1%	−3.9%	69.3%	12.9%	65.4%	98.1%	0.8d	mixed	$3.5M		By Mx	calc
Variational	BinanceCEX	−29.3%	−4.1%	62.7%	16.2%	60.1%	90.1%	0.6d	mixed	$89k	spread not incl.	Va Bn	calc
BybitCEX	BinanceCEX	−29.3%	−4.1%	62.3%	15.8%	56.8%	85.3%	1.2d	mixed	$4.0M		By Bn	calc
Variational	GateCEX	−63.9%	−31.8%	50.1%	9.8%	46.2%	69.2%	1.1d	mixed	$89k	spread not incl.	Va Gt	calc
BybitCEX	GateCEX	−63.9%	−31.8%	49.7%	9.1%	42.9%	64.4%	1.9d	mixed	$764k		By Gt	calc
GateCEX	BitgetCEX	63.9%	31.8%	28.4%	19.4%	21.4%	32.0%	3.5d	steady	$764k		Gt Bg	calc
BinanceCEX	Lighter	28.9%	3.6%	40.8%	28.7%	38.2%	57.3%	0.9d	steady	$56k	4h/1h	Bn Li	calc
MEXCCEX	Lighter	28.7%	3.5%	33.9%	19.2%	32.8%	49.3%	0.4d	steady	$56k	4h/1h	Mx Li	calc
GateCEX	MEXCCEX	34.8%	27.9%	19.6%	3.9%	14.6%	21.9%	3.5d	steady	$764k		Gt Mx	calc
BitgetCEX	Lighter	−0.4%	−0.4%	25.0%	3.7%	21.9%	32.9%	1.7d	mixed	$56k	4h/1h	Bg Li	calc
BinanceCEX	BitgetCEX	29.3%	4.1%	15.8%	23.1%	10.1%	15.1%	5.1d	steady	$2.0M		Bn Bg	calc
GateCEX	BinanceCEX	34.7%	27.7%	12.6%	2.4%	6.1%	9.1%	7.2d	steady	$764k		Gt Bn	calc
MEXCCEX	BitgetCEX	29.1%	3.9%	8.8%	15.6%	4.7%	7.0%	6.6d	steady	$2.0M		Mx Bg	calc
BinanceCEX	MEXCCEX	0.2%	0.1%	7.0%	2.1%	3.3%	5.0%	7.3d	steady	$3.5M		Bn Mx	calc
Variational	BybitCEX	0.0%	0.0%	0.4%	0.7%	−2.5%	−3.8%	112d	weak	$89k	spread not incl.	Va By	calc
Lighter	BitgetCEX	0.4%	0.4%	−25.0%	−3.7%	−28.2%	−42.3%	—	weak	$56k	1h/4h	Li Bg	calc
BinanceCEX	Variational	29.3%	4.1%	−62.7%	−16.2%	−65.3%	−97.9%	—	weak	$89k	spread not incl.	Bn Va	calc
BinanceCEX	BybitCEX	29.3%	4.1%	−62.3%	−15.8%	−67.8%	−102%	—	weak	$4.0M		Bn By	calc
MEXCCEX	Variational	29.1%	3.9%	−69.6%	−13.6%	−70.7%	−106%	—	weak	$89k	spread not incl.	Mx Va	calc
MEXCCEX	BybitCEX	29.1%	3.9%	−69.3%	−12.9%	−73.2%	−110%	—	weak	$3.5M		Mx By	calc
Lighter	Variational	0.4%	0.4%	−104%	−32.9%	−104%	−155%	—	weak	$56k	1h/4hspread not incl.	Li Va	calc
Lighter	BybitCEX	0.4%	0.4%	−103%	−32.2%	−106%	−159%	—	weak	$56k	1h/4h	Li By	calc
GateCEX	Variational	63.9%	31.8%	−50.1%	−9.8%	−54.0%	−81.0%	—	spike	$89k	spread not incl.	Gt Va	calc
GateCEX	BybitCEX	63.9%	31.8%	−49.7%	−9.1%	−56.5%	−84.7%	—	spike	$764k		Gt By	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 02:32 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 Variational at 13.7441, sell on Lighter at 13.9074: 1.18% before fees, 1.18% after taker fees.

NMR: spread buying on the row's venue and selling on the column's venue
Buy ↓ · Sell →	Lighter13.9074	MEXC13.814	Bybit13.803	Gate13.802	Binance13.793	Bitget13.791	Variational13.7441
Variational13.7441	1.18%	0.507%	0.427%	0.420%	0.355%	0.340%	—
Bitget13.791	0.840%	0.167%	0.087%	0.080%	0.015%	—	−0.340%
Binance13.793	0.826%	0.152%	0.072%	0.065%	—	−0.015%	−0.355%
Gate13.802	0.761%	0.087%	0.007%	—	−0.065%	−0.080%	−0.420%
Bybit13.803	0.754%	0.080%	—	−0.007%	−0.072%	−0.087%	−0.427%
MEXC13.814	0.674%	—	−0.080%	−0.087%	−0.152%	−0.167%	−0.507%
Lighter13.9074	—	−0.674%	−0.754%	−0.761%	−0.826%	−0.840%	−1.18%

All quotes (7)

Venue	Bid	Ask	Quality	Age	Vol 24h	Flags
BinanceCEX	13.793	13.793	mark	4m	$12.8M	no FX
BitgetCEX	13.791	13.791	mark	4m	$1.4M	no FX
BybitCEX	13.803	13.803	mark	4m	$3.2M	no FX
GateCEX	13.802	13.802	mark	4m	$700k	no FX
Lighter	13.9074	13.9074	mark	4m	$8k
MEXCCEX	13.814	13.814	mark	2m	$648k	no FX
Variational	13.7441	13.7441	mark	4m	$14k

All spreads → · Hatched cells use a mark or mid price, a flagged venue or one outside the default selection.

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