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Funding rate arbitrage, live

The same coin often pays different funding on different exchanges. This scanner lists the widest live funding rate spreads between Binance, Bybit and Hyperliquid: go long where funding is lower and short where it is higher, so the price exposure roughly cancels while you collect the difference. Spreads are shown per 8 hours and annualised (APR). Check both legs' liquidity and fees, and remember funding can change every interval: this is not risk-free and not financial advice.

873 coins with perpetualsFunding normalised to 8hServer history: started 24m ago

Widest spread ≥ $1M vol
—
per 8h · APR
Spreads ≥ 0.05% / 8h
68 coins
≈ 55%+ APR before fees≥ $1M 24h volume
Spreads ≥ 0.1% / 8h
22 coins
≈ 110%+ APR before fees≥ $1M 24h volume
BTC funding spread
0.0075%
≈ 8.2% APRhighest − lowest market

Accounts you'll need

Each spread has two legs, usually on two different exchanges, so you need a funded account on both before you can take it.

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Funding spreads: long the low leg, short the high leg

Coin Spread / 8h APR Long leg · lower funding Short leg · higher funding Trade
Funding OI Vol 24h Funding OI Vol 24h
SAGA 0.4927% 539.5% Bybit -1.3263% $1.48M $12.17M HL -0.8336% $1.23M $2.30M Long Bybit ↗sign up Short HL ↗sign up
LSK 0.5578% 610.8% Bybit -1.3152% $3.16M $12.78M Binance -0.7574% $14.95M $65.44M Long Bybit ↗sign up Short Binance ↗
Q 0.1215% 133.0% Bybit 0.0991% $3.40M $73.64M Binance 0.2206% $29.70M $439.03M Long Bybit ↗sign up Short Binance ↗
RARE 0.1494% 163.6% Binance -0.2338% $6.07M $272.16M Bybit -0.0844% $1.43M $56.15M Long Binance ↗ Short Bybit ↗sign up
2Z 0.1965% 215.2% Binance -0.2677% $6.55M $61.59M HL -0.0711% $3.42M $3.44M Long Binance ↗ Short HL ↗sign up
BONK 0.1130% 123.7% Bybit -0.0158% $5.59M $7.77M HL 0.0971% $11.80M $2.71M Long Bybit ↗sign up Short HL ↗sign up
CASHCAT 0.1359% 148.8% HL 0.0100% $44.84M $6.82M Bybit 0.1459% $7.91M $8.22M Long HL ↗sign up Short Bybit ↗sign up
CRCL 0.1085% 118.8% HL HIP-3 -0.1085% $108.95M $6.36M Bybit 0.0000% $7.80M $3.11M Long HL ↗sign up Short Bybit ↗sign up
LIGHT 0.1442% 157.9% Bybit 0.0100% $1.06M $432K Binance 0.1542% $4.14M $1.96M Long Bybit ↗sign up Short Binance ↗
BAN 0.1169% 128.0% Binance 0.0870% $6.64M $515K Bybit 0.2040% $1.38M $205K Long Binance ↗ Short Bybit ↗sign up
WLD 0.0526% 57.6% Binance 0.0100% $145.67M $632.21M HL 0.0626% $101.68M $83.41M Long Binance ↗ Short HL ↗sign up
PUMP 0.0532% 58.2% Binance 0.0100% $85.12M $120.97M HL 0.0632% $186.68M $44.32M Long Binance ↗ Short HL ↗sign up
RUNE 0.0542% 59.3% Bybit -0.0368% $2.35M $11.68M HL 0.0174% $3.60M $5.64M Long Bybit ↗sign up Short HL ↗sign up
INJ 0.0658% 72.0% Binance -0.0558% $34.09M $63.03M HL 0.0100% $13.66M $10.33M Long Binance ↗ Short HL ↗sign up
VVV 0.0839% 91.8% Binance 0.0100% $29.33M $34.51M HL 0.0939% $67.76M $10.86M Long Binance ↗ Short HL ↗sign up
ETC 0.0767% 84.0% Binance 0.0100% $30.47M $34.71M HL 0.0867% $6.50M $1.39M Long Binance ↗ Short HL ↗sign up
EIGEN 0.0881% 96.5% Binance 0.0100% $10.84M $25.32M HL 0.0981% $6.35M $2.25M Long Binance ↗ Short HL ↗sign up
AR 0.0852% 93.3% Binance 0.0100% $10.90M $19.14M HL 0.0952% $8.25M $1.85M Long Binance ↗ Short HL ↗sign up
MU 0.0501% 54.8% HL HIP-3 -0.0501% $158.10M $14.22M Bybit 0.0000% $9.38M $2.97M Long HL ↗sign up Short Bybit ↗sign up
FLOCK 0.0678% 74.2% Binance -0.0956% $4.19M $7.50M Bybit -0.0278% $1.55M $3.38M Long Binance ↗ Short Bybit ↗sign up
INTC 0.0773% 84.7% HL HIP-3 -0.0773% $153.81M $9.46M Bybit 0.0000% $4.94M $2.39M Long HL ↗sign up Short Bybit ↗sign up
H 0.0753% 82.4% Bybit 0.0101% $4.04M $4.12M Binance 0.0854% $13.70M $6.60M Long Bybit ↗sign up Short Binance ↗
MSTR 0.0721% 78.9% HL HIP-3 -0.0721% $57.16M $3.04M Bybit 0.0000% $7.78M $8.31M Long HL ↗sign up Short Bybit ↗sign up
RIVER 0.0529% 57.9% Bybit 0.0168% $2.14M $1.45M Binance 0.0697% $6.27M $9.11M Long Bybit ↗sign up Short Binance ↗
LUNC 0.0634% 69.4% Binance 0.0100% $4.79M $5.71M Bybit 0.0734% $1.02M $357K Long Binance ↗ Short Bybit ↗sign up
REZ 0.0825% 90.4% Binance 0.0100% $5.09M $5.58M HL 0.0925% $1.70M $217K Long Binance ↗ Short HL ↗sign up
BANK 0.0519% 56.8% Binance 0.0140% $6.41M $4.97M Bybit 0.0659% $1.38M $997K Long Binance ↗ Short Bybit ↗sign up
ARKM 0.0508% 55.6% Bybit -0.0408% $1.14M $852K Binance 0.0100% $2.89M $3.96M Long Bybit ↗sign up Short Binance ↗
PLTR 0.0667% 73.0% HL HIP-3 -0.0667% $14.21M $3.78M Bybit 0.0000% $1.49M $274K Long HL ↗sign up Short Bybit ↗sign up
ALCH 0.0507% 55.5% Bybit 0.0100% $1.62M $741K Binance 0.0607% $6.41M $2.16M Long Bybit ↗sign up Short Binance ↗
COIN 0.0545% 59.7% HL HIP-3 -0.0545% $13.03M $1.50M Bybit 0.0000% $2.27M $708K Long HL ↗sign up Short Bybit ↗sign up
HOOD 0.0596% 65.2% HL HIP-3 -0.0596% $41.26M $1.45M Bybit 0.0000% $1.61M $439K Long HL ↗sign up Short Bybit ↗sign up
RKLB 0.0645% 70.6% HL HIP-3 -0.0780% $10.51M $1.36M Bybit -0.0136% $1.15M $242K Long HL ↗sign up Short Bybit ↗sign up
QNT 0.0263% 28.8% Bybit -0.0046% $6.86M $247.46M HL HIP-3 0.0217% $1.43M $558K Long Bybit ↗sign up Short HL ↗sign up
SUI 0.0256% 28.1% Bybit -0.0006% $52.34M $140.82M HL 0.0250% $99.31M $39.57M Long Bybit ↗sign up Short HL ↗sign up
ENA 0.0225% 24.6% Binance 0.0100% $158.75M $311.25M HL 0.0325% $169.80M $60.34M Long Binance ↗ Short HL ↗sign up
BCH 0.0203% 22.2% Bybit -0.0103% $27.20M $21.57M Binance 0.0100% $146.76M $159.44M Long Bybit ↗sign up Short Binance ↗
SOON 0.0491% 53.8% Bybit 0.0968% $3.53M $34.72M Binance 0.1458% $16.50M $138.56M Long Bybit ↗sign up Short Binance ↗
MARSCOIN 0.0385% 42.2% Binance 0.0100% $27.44M $117.27M Bybit 0.0485% $5.02M $26.49M Long Binance ↗ Short Bybit ↗sign up
PENGU 0.0230% 25.2% Binance 0.0100% $39.82M $103.83M HL 0.0330% $22.55M $6.95M Long Binance ↗ Short HL ↗sign up
BTW 0.0224% 24.5% Binance 0.0454% $141.47M $131.45M Bybit 0.0678% $14.24M $29.08M Long Binance ↗ Short Bybit ↗sign up
ZRO 0.0278% 30.4% Bybit -0.0178% $14.12M $19.75M HL 0.0100% $60.42M $9.89M Long Bybit ↗sign up Short HL ↗sign up
TRX 0.0398% 43.5% HL -0.0572% $13.23M $3.19M Bybit -0.0174% $26.03M $8.46M Long HL ↗sign up Short Bybit ↗sign up
VIRTUAL 0.0481% 52.7% Binance 0.0100% $19.78M $42.28M HL 0.0581% $13.37M $3.02M Long Binance ↗ Short HL ↗sign up
USELESS 0.0262% 28.7% Binance 0.0100% $21.85M $43.29M HL 0.0362% $13.95M $6.79M Long Binance ↗ Short HL ↗sign up
LDO 0.0475% 52.0% Binance 0.0033% $19.52M $29.09M HL 0.0508% $18.94M $2.95M Long Binance ↗ Short HL ↗sign up
WIF 0.0251% 27.5% Binance 0.0100% $17.77M $21.92M HL 0.0351% $8.63M $1.06M Long Binance ↗ Short HL ↗sign up
PENDLE 0.0422% 46.2% Bybit -0.0159% $7.17M $4.75M HL 0.0264% $15.52M $2.53M Long Bybit ↗sign up Short HL ↗sign up
CC 0.0287% 31.4% Binance 0.0100% $14.55M $16.60M HL 0.0387% $6.76M $2.91M Long Binance ↗ Short HL ↗sign up
COTI 0.0271% 29.7% Binance -0.1397% $8.07M $20.85M Bybit -0.1126% $1.28M $2.45M Long Binance ↗ Short Bybit ↗sign up
CHIP 0.0250% 27.3% Bybit -0.0150% $4.72M $5.54M HL 0.0100% $13.02M $2.52M Long Bybit ↗sign up Short HL ↗sign up
MNT 0.0211% 23.1% Bybit -0.0045% $23.76M $10.78M HL 0.0166% $7.54M $355K Long Bybit ↗sign up Short HL ↗sign up
ARX 0.0346% 37.9% Bybit 0.0100% $2.78M $3.84M Binance 0.0446% $7.96M $15.47M Long Bybit ↗sign up Short Binance ↗
SYRUP 0.0207% 22.7% Binance -0.0028% $8.17M $8.24M HL 0.0180% $8.55M $1.82M Long Binance ↗ Short HL ↗sign up
SUSHI 0.0316% 34.6% Bybit -0.0216% $1.44M $2.54M Binance 0.0100% $4.30M $6.38M Long Bybit ↗sign up Short Binance ↗
META 0.0352% 38.6% HL HIP-3 -0.0620% $67.67M $8.04M Bybit -0.0267% $3.79M $2.32M Long HL ↗sign up Short Bybit ↗sign up
ZK 0.0402% 44.0% Bybit -0.0302% $2.72M $1.50M Binance 0.0100% $5.05M $5.63M Long Bybit ↗sign up Short Binance ↗
LAB 0.0203% 22.2% Bybit 0.0100% $2.11M $1.11M Binance 0.0303% $13.43M $8.53M Long Bybit ↗sign up Short Binance ↗
BIO 0.0208% 22.8% Binance 0.0100% $7.96M $5.06M HL 0.0308% $1.57M $286K Long Binance ↗ Short HL ↗sign up
CFX 0.0285% 31.2% Binance 0.0100% $5.87M $5.42M HL 0.0385% $3.60M $329K Long Binance ↗ Short HL ↗sign up
CAP 0.0220% 24.1% Binance 0.0190% $9.45M $4.07M Bybit 0.0410% $1.83M $1.80M Long Binance ↗ Short Bybit ↗sign up
RATS 0.0336% 36.8% Binance 0.0482% $10.84M $4.01M Bybit 0.0819% $2.06M $1.67M Long Binance ↗ Short Bybit ↗sign up
BTR 0.0307% 33.6% Bybit 0.0100% $1.46M $747K Binance 0.0407% $4.54M $4.44M Long Bybit ↗sign up Short Binance ↗
NBIS 0.0289% 31.7% HL HIP-3 -0.0277% $33.95M $1.07M HL HIP-3 0.0013% $9.30M $1.16M Long HL ↗sign up Short HL ↗
AMZN 0.0298% 32.7% HL HIP-3 -0.0298% $29.36M $2.42M Bybit 0.0000% $2.97M $310K Long HL ↗sign up Short Bybit ↗sign up
GOAT 0.0373% 40.8% Binance 0.0100% $1.99M $1.67M HL 0.0473% $1.69M $147K Long Binance ↗ Short HL ↗sign up
ORCL 0.0225% 24.7% HL HIP-3 -0.0225% $24.03M $994K Bybit 0.0000% $2.48M $311K Long HL ↗sign up Short Bybit ↗sign up
COAI 0.0264% 28.9% Bybit 0.0100% $1.33M $218K Binance 0.0364% $3.33M $972K Long Bybit ↗sign up Short Binance ↗
M 0.0421% 46.1% Bybit 0.0121% $1.87M $346K Binance 0.0542% $4.77M $765K Long Bybit ↗sign up Short Binance ↗
BMNR 0.0210% 23.0% HL HIP-3 -0.0210% $3.45M $65K Bybit 0.0000% $1.78M $533K Long HL ↗sign up Short Bybit ↗sign up
UNITREE 0.0269% 29.5% HL HIP-3 -0.0178% $20.92M $315K HL HIP-3 0.0091% $1.79M $80K Long HL ↗sign up Short HL ↗
ZEC 0.0134% 14.7% Binance USDC -0.0034% $38.54M $109.22M HL 0.0100% $870.93M $379.06M Long Binance ↗ Short HL ↗sign up
XRP 0.0120% 13.2% Bybit -0.0020% $165.44M $397.06M HL 0.0100% $315.14M $123.40M Long Bybit ↗sign up Short HL ↗sign up
HYPE 0.0188% 20.6% Binance -0.0088% $396.61M $396.13M HL 0.0100% $1.92B $237.51M Long Binance ↗ Short HL ↗sign up
DOGE 0.0156% 17.0% Binance 0.0100% $296.16M $433.65M HL 0.0256% $125.27M $12.49M Long Binance ↗ Short HL ↗sign up
FIL 0.0117% 12.8% Binance USDC -0.0017% $11.07M $19.74M HL 0.0100% $10.39M $4.86M Long Binance ↗ Short HL ↗sign up
BNB 0.0100% 11.0% Binance 0.0000% $452.97M $207.90M HL 0.0100% $50.85M $4.04M Long Binance ↗ Short HL ↗sign up
PEPE 0.0192% 21.0% Bybit -0.0092% $38.43M $49.11M Binance 0.0100% $95.85M $216.47M Long Bybit ↗sign up Short Binance ↗
AAVE 0.0162% 17.7% Bybit -0.0062% $32.27M $40.53M HL 0.0100% $82.97M $8.72M Long Bybit ↗sign up Short HL ↗sign up
GRAM 0.0186% 20.4% Binance 0.0100% $27.92M $66.15M HL 0.0286% $58.87M $28.50M Long Binance ↗ Short HL ↗sign up
DOT 0.0148% 16.2% Bybit -0.0048% $12.24M $20.45M HL 0.0100% $6.14M $4.72M Long Bybit ↗sign up Short HL ↗sign up
BR 0.0127% 13.9% Binance -0.0027% $22.85M $90.75M Bybit 0.0100% $3.56M $10.91M Long Binance ↗ Short Bybit ↗sign up
PONS 0.0158% 17.3% HL 0.0100% $63.63M $15.36M Binance 0.0258% $42.86M $51.58M Long HL ↗sign up Short Binance ↗
GRASS 0.0197% 21.6% Bybit 0.0100% $16.51M $20.77M HL 0.0297% $30.97M $8.09M Long Bybit ↗sign up Short HL ↗sign up
ICP 0.0200% 21.9% Bybit -0.0100% $9.91M $13.58M HL 0.0100% $5.00M $2.98M Long Bybit ↗sign up Short HL ↗sign up
SEI 0.0126% 13.8% Bybit -0.0026% $9.16M $14.70M Binance 0.0100% $18.72M $47.34M Long Bybit ↗sign up Short Binance ↗
ASTER 0.0116% 12.7% Bybit -0.0016% $26.01M $9.95M Binance 0.0100% $90.93M $47.73M Long Bybit ↗sign up Short Binance ↗
AERO 0.0118% 13.0% Binance 0.0100% $35.79M $34.26M HL 0.0218% $35.21M $7.27M Long Binance ↗ Short HL ↗sign up
OP 0.0130% 14.2% Binance -0.0030% $20.86M $41.14M HL 0.0100% $3.64M $1.47M Long Binance ↗ Short HL ↗sign up
SHIB 0.0110% 12.0% Bybit -0.0010% $7.23M $9.05M Binance 0.0100% $30.14M $42.73M Long Bybit ↗sign up Short Binance ↗
RENDER 0.0128% 14.0% Binance -0.0028% $15.55M $30.81M Bybit 0.0100% $6.28M $9.22M Long Binance ↗ Short Bybit ↗sign up
ORCA 0.0167% 18.2% Binance -0.0067% $4.14M $18.09M Bybit 0.0100% $1.54M $5.14M Long Binance ↗ Short Bybit ↗sign up
CAKE 0.0180% 19.7% Binance 0.0100% $21.30M $15.12M HL 0.0280% $5.15M $1.08M Long Binance ↗ Short HL ↗sign up
JASMY 0.0155% 17.0% Bybit -0.0371% $2.37M $4.41M Binance -0.0216% $4.42M $14.05M Long Bybit ↗sign up Short Binance ↗
EDGE 0.0137% 15.0% Bybit 0.0100% $3.89M $5.52M Binance 0.0237% $11.28M $12.45M Long Bybit ↗sign up Short Binance ↗
JELLYJELLY 0.0101% 11.0% Bybit 0.0610% $1.29M $3.86M Binance 0.0711% $4.66M $9.09M Long Bybit ↗sign up Short Binance ↗
LA 0.0122% 13.3% Binance -0.0022% $4.90M $8.57M Bybit 0.0100% $1.22M $1.89M Long Binance ↗ Short Bybit ↗sign up
MINA 0.0124% 13.6% Bybit -0.0081% $2.10M $1.36M Binance 0.0043% $4.43M $6.04M Long Bybit ↗sign up Short Binance ↗
GRT 0.0125% 13.7% Bybit -0.0087% $1.80M $2.82M Binance 0.0038% $4.16M $5.00M Long Bybit ↗sign up Short Binance ↗
RESOLV 0.0110% 12.0% Binance 0.0100% $2.35M $2.78M HL 0.0210% $1.57M $424K Long Binance ↗ Short HL ↗sign up
XTZ 0.0119% 13.0% Binance -0.0019% $4.64M $3.22M Bybit 0.0100% $1.06M $1.02M Long Binance ↗ Short Bybit ↗sign up
NVDA 0.0155% 16.9% Bybit 0.0000% $6.47M $1.08M HL HIP-3 0.0155% $137.55M $3.44M Long Bybit ↗sign up Short HL ↗sign up
TSLA 0.0105% 11.5% HL HIP-3 -0.0105% $47.17M $1.70M Bybit 0.0000% $4.94M $2.50M Long HL ↗sign up Short Bybit ↗sign up
RAVE 0.0131% 14.3% Binance 0.0288% $4.73M $3.38M Bybit 0.0419% $1.31M $707K Long Binance ↗ Short Bybit ↗sign up
EVAA 0.0137% 15.0% Bybit 0.0100% $1.08M $413K Binance 0.0237% $5.28M $3.32M Long Bybit ↗sign up Short Binance ↗
BSV 0.0124% 13.5% Binance 0.0100% $2.56M $2.43M HL 0.0224% $1.21M $181K Long Binance ↗ Short HL ↗sign up
GRIFFAIN 0.0129% 14.1% HL 0.0100% $1.27M $90K Binance 0.0229% $4.51M $2.78M Long HL ↗sign up Short Binance ↗
AAPL 0.0139% 15.3% HL HIP-3 -0.0139% $35.56M $1.69M Bybit 0.0000% $4.88M $1.42M Long HL ↗sign up Short Bybit ↗sign up
ZHIPU 0.0101% 11.0% HL HIP-3 -0.0101% $22.70M $149K Bybit 0.0000% $1.35M $460K Long HL ↗sign up Short Bybit ↗sign up
BE 0.0115% 12.6% Bybit 0.0000% $1.23M $131K HL HIP-3 0.0115% $5.98M $233K Long Bybit ↗sign up Short HL ↗sign up

How to read it. Funding is shown per 8 hours for every exchange: Hyperliquid pays hourly and many Binance and Bybit perps pay every 4h or 1h, so each rate is converted to its 8-hour equivalent (hourly × 8, 4-hourly × 2). Positive = longs pay shorts, negative = shorts pay longs. Green is above the usual 0.01% / 8h baseline, red is negative, bold is extreme (≥ 0.1% / 8h). APR = 8h rate × 3 × 365, without compounding.

Exchange columns show the coin's market with the most open interest on that exchange (usually the USDT perp; Hyperliquid may be a HIP-3 market); hover for every market. Spread is the highest minus the lowest funding across all of the coin's perp markets.

OI and price changes come from 5-minute snapshots this site records itself, so they show "—" until the server has 1h, 4h and 24h of history. The server restarts about once a day.

Funding rate arbitrage FAQ

What is a funding rate?

Perpetual futures never expire, so exchanges use regular funding payments between longs and shorts to keep the perp price close to spot. When funding is positive, longs pay shorts; when it is negative, shorts pay longs. The rate is a percentage of your position size, paid every funding interval.

Why are all rates shown per 8 hours?

Exchanges pay funding on different schedules: Hyperliquid every hour, Binance and Bybit every 8 hours for most perps but every 4 hours or every hour for some. To compare like with like, every rate here is converted to its 8-hour equivalent. APR is the 8-hour rate × 3 × 365, without compounding.

What does open interest tell you?

Open interest (OI) is the total value of open perpetual positions. Rising OI with a rising price usually means new longs are opening; rising OI with a falling price usually means new shorts. Falling OI means positions are being closed or liquidated. High OI together with extreme funding points to a crowded trade that can unwind sharply.

How does funding rate arbitrage work?

When the same coin pays different funding on two markets, you can go long where funding is lower and short where it is higher. Price moves roughly cancel out and you collect the difference. The risks: funding changes every interval and can flip, fees and slippage eat into the edge, the two prices can drift apart, each leg can be liquidated on its own, and you carry exchange risk on both sides.

Why do some OI and price changes show "—"?

Changes are calculated from 5-minute snapshots that this site records itself. After a server restart, which happens about once a day, the 1h, 4h and 24h columns fill in once that much history exists.

What are HIP-3 markets?

HIP-3 lets independent builders deploy their own perpetual markets on Hyperliquid, for example on stocks, indices and commodities such as TSLA, NVDA or gold. They are marked HIP-3 here, and several builders can list the same asset. Liquidity is often thinner and funding can behave differently outside stock market hours. See Hyperliquid stock perps for every HIP-3 market with its oracle basis, OI-cap use and US market hours.

Is this financial advice?

No. Volume Monitor shows raw public market data for free. Nothing here is a recommendation to trade. Funding, spreads and open interest change constantly, data can be delayed or incomplete, and leveraged trading can lose more than you expect.