SHEIN funding rates

SHEIN perpetual funding across 5 venues. Rates are annualized (APR); positive means longs pay shorts.

Data as of 2026-10-12 09:01 UTC · refreshed every 5 min

Best pair · 7d: 4.9%long Bitget, short Lighter · net 1.8%
Highest funding now: 128%BybitCEX
Lowest funding now: 0.0%BitgetCEX
Listed on: 5 venues

Funding by venue

													Flags	Open
BybitCEX	SHEINUSDT	128%	7.7%	2.6%	5.1%	1.7%	6%	8h	16:00	4.19	$442k	$32k	TradFi	ByBybit
Lighter RH	SHEIN	36.8%	5.6%	4.7%	5.5%	4.6%	99%	1h	10:00	4.18	$16k	$29k	TradFi	LrLighter RH
Lighter	SHEIN	10.5%	0.7%	4.9%	5.6%	5.6%	99%	1h	10:00	4.17	$17k	$5k	TradFi	LiLighter
GateCEX	SHEIN_USDT	9.9%	4.9%	0.7%	2.1%	0.0%	1%	8h	16:00	4.19	$88k	$22k	TradFi	GtGate
BitgetCEX	SHEINUSDT	0.0%	0.0%	0.0%	1.8%	0.0%	0%	8h	16:00	4.18	$194k	$180k	TradFi	BgBitget

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
BitgetCEX	Lighter	10.5%	0.7%	4.9%	3.8%	1.8%	2.7%	8.9d	steady	$17k	low OI8h/1hTradFi	Bg Li	calc
BitgetCEX	Lighter RH	36.8%	5.6%	4.7%	6.1%	1.6%	2.4%	9.3d	weak	$16k	low OI8h/1hTradFi	Bg Lr	calc
GateCEX	Lighter	0.7%	−4.2%	4.2%	3.5%	0.3%	0.4%	13d	cooling	$17k	low OI8h/1hTradFi	Gt Li	calc
Lighter RH	Lighter	−26.3%	−4.9%	0.2%	−0.4%	0.2%	0.3%	<0.1d	weak	$16k	low OITradFi	Lr Li	calc
GateCEX	Lighter RH	26.9%	0.7%	4.0%	2.4%	0.1%	0.2%	14d	weak	$16k	low OI8h/1hTradFi	Gt Lr	calc
Lighter	Lighter RH	26.3%	4.9%	−0.2%	0.4%	−0.2%	−0.3%	—	weak	$16k	low OITradFi	Li Lr	calc
BybitCEX	Lighter	−118%	−7.0%	2.3%	0.5%	−0.5%	−0.8%	17d	weak	$17k	low OI8h/1hTradFi	By Li	calc
BybitCEX	Lighter RH	−91.4%	−2.1%	2.2%	−0.6%	−0.7%	−1.1%	19d	weak	$16k	low OI8h/1hTradFi	By Lr	calc
BitgetCEX	BybitCEX	128%	7.7%	2.6%	3.3%	−3.4%	−5.1%	33d	weak	$194k	TradFi	Bg By	calc
GateCEX	BybitCEX	118%	2.8%	1.9%	2.9%	−4.9%	−7.4%	51d	weak	$88k	TradFi	Gt By	calc
BitgetCEX	GateCEX	9.9%	4.9%	0.7%	0.3%	−6.3%	−9.5%	141d	weak	$88k	TradFi	Bg Gt	calc
Lighter RH	BybitCEX	91.4%	2.1%	−2.2%	0.6%	−5.0%	−7.5%	—	mixed	$16k	low OI1h/8hTradFi	Lr By	calc
Lighter	BybitCEX	118%	7.0%	−2.3%	−0.5%	−5.2%	−7.8%	—	mixed	$17k	low OI1h/8hTradFi	Li 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 09:01 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.

SHEIN · TradFi

No two venues give a usable spread right now.

SHEIN: spread buying on the row's venue and selling on the column's venue
Buy ↓ · Sell →	Gate4.191	Bybit4.19	Bitget4.184	Lighter RH4.1802	Lighter4.1743
Lighter4.1743	0.399%	0.375%	0.232%	0.141%	—
Lighter RH4.1802	0.258%	0.234%	0.091%	—	−0.141%
Bitget4.184	0.167%	0.143%	—	−0.091%	−0.232%
Bybit4.19	0.024%	—	−0.143%	−0.234%	−0.375%
Gate4.191	—	−0.024%	−0.167%	−0.258%	−0.399%

All quotes (5)

Venue	Bid	Ask	Quality	Age	Vol 24h	Flags
BitgetCEX	4.184	4.184	mark	2m	$180k	closedno FX
BybitCEX	4.19	4.19	mark	2m	$32k	closedno FX
GateCEX	4.191	4.191	mark	2m	$22k	closedno FX
Lighter	4.1743	4.1743	mark	2m	$5k	closed
Lighter RH	4.1802	4.1802	mark	2m	$29k	closed

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

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