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SPELL funding rate live

The open-interest-weighted SPELL funding rate is 0.0100% per 8 hours (≈11% APR) across 5 perpetual markets, so longs pay shorts. All 5 markets currently pay the same rate. These markets hold $3.49M of open interest. Rates are converted to an 8-hour equivalent so exchanges with different funding intervals compare directly.

Tracking for ~4h Updates every 5 s SPELL overview

Funding, 8hOI-weighted
0.0100%
≈11% APRlongs pay shorts
HighestGate
0.0100%
≈11% APRSPELL_USDT
LowestBinance
0.0100%
≈11% APRSPELLUSDT
Spread between exchanges
0.0000%
≈0% APRArbitrage →

SPELL funding rate by exchange

8h equivalent · hover a rate for the exact APR
Market Funding 8h APR Who pays Open interest OI share 24h volume Price Trade
Binance SPELLUSDT 0.0100% 11% Longs pay $1.99M 57.1% $9.72M 0.0001034 Trade
Bitget SPELLUSDT 0.0100% 11% Longs pay $663K 19.0% $469K 0.0001035 Trade
MEXC SPELL_USDT 0.0100% 11% Longs pay $595K 17.1% $440K 0.0001033 Trade
KuCoin SPELLUSDTM 0.0100% 11% Longs pay $210K 6.0% $50K 0.0001031 Trade
Gate SPELL_USDT 0.0100% 11% Longs pay $27K 0.8% $59K 0.0001033 Trade

Sorted by open interest. Exchanges settle funding every 1, 4 or 8 hours; every rate here is converted to 8 hours. Trade links go to the exchange and may be referral links. Compare every coin on the funding rates page.

SPELL funding history

From recorded history, hourly

SPELL funding has averaged 0.0100% per 8 hours since 13:15 UTC on 27 Sep (≈11% APR), positive in 100% of hourly readings, so longs mostly paid shorts.

SPELL funding rate

OI-weighted, 8h

Chart: TradingView Lightweight Charts™

About the SPELL funding rate

What is the SPELL funding rate?

SPELL perpetual futures never expire, so exchanges keep their price near spot with funding: a periodic payment between longs and shorts. When the perp trades above spot, the rate is positive and longs pay shorts; below spot it turns negative and shorts pay longs. The payment is a percentage of position size, charged every 1, 4 or 8 hours depending on the exchange.

How to read it

Binance and Bybit's default rate when the perp is in line with spot is 0.0100% per 8h (about 11% APR). Well above that means leveraged longs are paying up to hold SPELL; negative means shorts are crowded. The APR column shows what holding a position costs or earns over a year at today's rate. A wide spread between exchanges is what funding arbitrage traders look for.

Why do exchanges show different rates?

Each exchange computes funding from its own order book and premium, so the SPELL rate differs by venue, and intervals differ too. Volume Monitor converts every rate to an 8-hour equivalent and weights the headline figure by open interest. Rates update every few seconds from the exchanges' public feeds.