2Z funding rates and arbitrage
Updated 2026-11-12 00:07 UTC
Best 2Z arbitrage after every cost
No 2Z pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
2Z funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Backpack | 2Z_USDC_PERP | 0.0114% | 1 h | +99.6% | +11.1% | $37.1K | 2026-11-12 01:00 |
| Pacifica | 2Z | 0.0013% | 1 h | +10.9% | +11.0% | $14.7K | 2026-11-12 01:00 |
| Bybit | 2ZUSDT | 0.0050% | 4 h | +10.9% | −2.8% | $883.5K | 2026-11-12 04:00 |
| KuCoin | 2ZUSDTM | 0.0050% | 4 h | +10.9% | +11.2% | $426.7K | 2026-11-12 04:00 |
| MEXC | 2Z_USDT | 0.0050% | 4 h | +10.9% | −2.9% | $430.9K | 2026-11-12 04:00 |
| WhiteBIT | 2Z_PERP | 0.0050% | 4 h | +10.9% | +11.2% | $476.6K | 2026-11-12 04:00 |
| Bitget | 2ZUSDT | 0.0050% | 4 h | +10.9% | +11.2% | $191.4K | 2026-11-12 04:00 |
| OKX | 2Z-USDT-SWAP | 0.0050% | 4 h | +10.9% | +11.0% | $601.1K | 2026-11-12 04:00 |
| BingX | 2Z-USDT | 0.0050% | 4 h | +10.9% | +6.5% | $284.7K | 2026-11-12 04:00 |
| Gate | 2Z_USDT | 0.0050% | 4 h | +10.9% | +10.9% | $58.5K | 2026-11-12 04:00 |
| Hyperliquid | 2Z | 0.0013% | 1 h | +10.9% | +11.0% | $479.3K | 2026-11-12 01:00 |
| Variational | 2Z-PERP | 0.0050% | 4 h | +10.9% | +10.8% | $61.3K | 2026-11-12 00:00 |
| Lighter | 2Z | 0.0012% | 1 h | +10.5% | +7.8% | $6.1K | 2026-11-12 01:00 |
| Aster | 2ZUSDT | -0.0003% | 4 h | −0.6% | +9.8% | $17.7K | 2026-11-12 04:00 |
| LBank | 2ZUSDT | -0.0014% | 4 h | −3.1% | +3.6% | — | 2026-11-12 04:00 |
| WOO X | PERP_2Z_USDT | -0.0014% | 4 h | −3.2% | +7.8% | $0 | 2026-11-12 04:00 |
| Binance | 2ZUSDT | -0.0014% | 4 h | −3.2% | +8.0% | $2M | 2026-11-12 04:00 |
| Bitunix | 2ZUSDT | -0.0028% | 4 h | −6.2% | +7.9% | — | 2026-11-12 04:00 |
| Crypto.com | 2ZUSD-PERP | -0.0107% | 1 h | −94.0% | +43.6% | $1.2K | 2026-11-11 23:00 |
Borrow 2Z to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 5.19% | — |
| OKX | 16.35% | — |
| Bybit | 23.34% | — |
| Binance | 45.69% | — |
| Gate | 182.77% | $30K |
Cost to enter $10,000 of 2Z
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | 2Z_USDT | 4.6 bp | top of book only |
| BingX | 2Z-USDT | 7.6 bp | top of book only |
| Binance | 2ZUSDT | 7.6 bp | top of book only |
| OKX | 2Z-USDT-SWAP | 7.6 bp | top of book only |
| Lighter | 2Z | 7.8 bp | top of book only |
| Variational | 2Z-PERP | 7.8 bp | top of book only |
| Bybit | 2ZUSDT | 8.1 bp | top of book only |
| Bitget | 2ZUSDT | 11.2 bp | top of book only |
| Hyperliquid | 2Z | 11.8 bp | top of book only |
| Binance | 2ZUSDT (spot) | 12.6 bp | top of book only |
| Gate | 2Z_USDT | 12.7 bp | top of book only |
| Aster | 2ZUSDT | 14.4 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees.
More on 2Z
Questions
Is 2Z funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no 2Z pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest 2Z funding rate?
Backpack at +99.6% a year (0.0114% every 1 h); the lowest is Crypto.com at −94.0%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.