BTC funding rates and arbitrage
Updated 2026-11-11 22:51 UTC
Best BTC arbitrage after every cost
No BTC 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.
BTC funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Perpl | BTC | 0.0040% | 0.7166666666666666666666666667 h | +48.9% | — | $215.3K | — |
| Hibachi | BTC/USDT-P | 0.0047% | 1 h | +41.2% | +31.8% | $549.6K | 2026-11-11 23:00 |
| Extended | BTC-USD | 0.0013% | 1 h | +11.4% | +11.3% | $29.6M | 2026-11-11 23:00 |
| Velocity | BTC-PERP | 0.0013% | 1 h | +11.3% | — | $104.5K | 2026-11-11 23:01 |
| Phoenix | BTC | 0.0013% | 1 h | +11.0% | +11.0% | — | 2026-11-11 23:00 |
| Pacifica | BTC | 0.0013% | 1 h | +10.9% | +11.0% | $37.6M | 2026-11-11 23:00 |
| Bulk | BTC-USD | 0.0013% | 1 h | +10.9% | — | $2.4M | 2026-11-11 23:00 |
| Bullet | BTC-USD | 0.0013% | 1 h | +10.9% | — | $1.2M | 2026-11-11 23:00 |
| Backpack | BTC_USDC_PERP | 0.0013% | 1 h | +10.9% | +9.6% | $37.3M | 2026-11-11 23:00 |
| Ondo Perps | BTC-USD.P | 0.0013% | 1 h | +10.9% | — | $4.9M | 2026-11-11 23:00 |
| WhiteBIT | BTC_PERP | 0.0100% | 8 h | +10.9% | +11.0% | $1.5B | 2026-11-12 00:00 |
| ApeX | BTC-USDT | 0.0013% | 1 h | +10.9% | +10.9% | $121.5M | 2026-11-11 23:00 |
| HTX | BTC-USDT | 0.0100% | 8 h | +10.9% | +10.1% | $1.1B | 2026-11-12 00:00 |
| StandX | BTC-USD | 0.0013% | 1 h | +10.9% | — | $471.1K | 2026-11-11 23:00 |
| PopDEX | BTCUSDT | 0.0013% | 1 h | +10.9% | +11.0% | $74.8M | 2026-11-11 23:00 |
| Arcus | BTC-USD | 0.0013% | 1 h | +10.9% | +11.1% | $14.5M | 2026-11-11 23:00 |
| Katana Perps | BTC-USD | 0.0100% | 8 h | +10.9% | +11.0% | $126.6K | 2026-11-12 00:00 |
| Lighter RH | BTC | 0.0012% | 1 h | +10.5% | +10.4% | $16M | 2026-11-11 23:00 |
| Lighter | BTC | 0.0012% | 1 h | +10.5% | +10.5% | $154.8M | 2026-11-11 23:00 |
| Kraken | PF_XBTUSD | 0.0010% | 1 h | +8.6% | +11.9% | $189.6M | 2026-11-11 23:00 |
| GRVT | BTC_USDT_Perp | 0.0075% | 8 h | +8.2% | +6.8% | $184.8M | 2026-11-12 00:00 |
| Crypto.com | BTCUSD-PERP | 0.0009% | 1 h | +7.6% | +12.1% | $450M | 2026-11-11 23:00 |
| Bybit | BTCUSDT | 0.0065% | 8 h | +7.1% | +7.7% | $5.1B | 2026-11-12 00:00 |
| BingX | BTC-USDT | 0.0065% | 8 h | +7.1% | +9.6% | $600.2M | 2026-11-12 00:00 |
| Aster | BTCUSDT | 0.0059% | 8 h | +6.5% | +9.4% | $469.8M | 2026-11-12 00:00 |
| Variational | BTC-PERP | 0.0059% | 8 h | +6.5% | +12.5% | $83M | 2026-11-12 00:00 |
| Phemex | BTCUSDT | 0.0057% | 8 h | +6.3% | — | $170.3M | 2026-11-12 00:00 |
| Bitunix | BTCUSDC | 0.0055% | 8 h | +6.0% | +8.3% | — | 2026-11-12 00:00 |
| OKX | BTC-USDT-SWAP | 0.0055% | 8 h | +6.0% | +6.5% | $2.6B | 2026-11-12 00:00 |
| Nado | BTC-PERP_USDT0 | 0.0007% | 1 h | +5.9% | +8.0% | $11.3M | 2026-11-11 23:00 |
| TXFlow | BTC-USDC | 0.0006% | 1 h | +5.3% | — | $26.2M | 2026-11-11 23:00 |
| BloFin | BTC-USDT | 0.0037% | 8 h | +4.1% | +16.4% | $352M | 2026-11-12 00:00 |
| LBank | BTCUSDT | 0.0029% | 8 h | +3.1% | +8.5% | — | 2026-11-12 00:00 |
| WOO X | PERP_BTC_USDT | 0.0029% | 8 h | +3.1% | +7.9% | $16.2M | 2026-11-12 00:00 |
| Binance | BTCUSDT | 0.0029% | 8 h | +3.1% | +7.9% | $7.2B | 2026-11-12 00:00 |
| Phemex | BTCUSDC | 0.0028% | 8 h | +3.1% | — | $44.2M | 2026-11-12 00:00 |
| MEXC | BTC_USDT | 0.0028% | 8 h | +3.1% | +7.8% | $5B | 2026-11-12 00:00 |
| Bitunix | BTCUSDT | 0.0026% | 8 h | +2.9% | +7.9% | — | 2026-11-12 00:00 |
| Paradex | BTC-USD-PERP | 0.0025% | 8 h | +2.8% | — | $18.4M | 2026-11-12 00:00 |
| KuCoin | XBTUSDTM | 0.0014% | 8 h | +1.5% | +8.8% | $701.7M | 2026-11-12 00:00 |
| Coinbase Derivatives | BIP-20DEC30-CDE | 0.0001% | 1 h | +0.9% | — | $150.4M | 2026-11-11 23:00 |
| Bitget | BTCUSDT | 0.0006% | 8 h | +0.7% | +6.7% | $2.8B | 2026-11-12 00:00 |
| Gate | BTC_USDT | 0.0002% | 8 h | +0.2% | +8.4% | $2.3B | 2026-11-12 00:00 |
| Bitfinex | tBTCF0:USTF0 | 0.0000% | 8 h | 0.0% | — | $675.7M | 2026-11-12 00:00 |
| dYdX | BTC-USD | -0.0002% | 1 h | −1.7% | +6.4% | $15.9M | 2026-11-11 23:00 |
| Hyperliquid | BTC | -0.0003% | 1 h | −2.8% | +10.6% | $3B | 2026-11-11 23:00 |
| RISEx | BTC/USDC | -0.0021% | 1 h | −18.1% | — | $18.1M | 2026-11-11 23:00 |
Borrow BTC to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 0.21% | — |
| Binance | 0.50% | — |
| Bybit | 0.50% | — |
| OKX | 0.51% | — |
| Gate | 0.51% | $120M |
Lock BTC funding on Pendle Boros
| Market | Maturity | Net locked | Floating, same term | Advantage |
|---|---|---|---|---|
| Hyperliquid | 2026-11-27 | 8.51% | 7.89% | +0.62% |
| Lighter | 2026-11-27 | 8.40% | 6.71% | +1.68% |
| Hyperliquid | 2026-12-25 | 8.06% | 7.81% | +0.25% |
| Lighter | 2026-12-25 | 7.99% | 6.59% | +1.40% |
| Hyperliquid | 2026-11-27 | 7.89% | 7.89% | +0.01% |
| Hyperliquid | 2026-12-25 | 7.86% | 7.81% | +0.05% |
Cost to enter $10,000 of BTC
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Lighter | BTC | 0.0 bp | order-book snapshot, 48 min old |
| Variational | BTC-PERP | 0.5 bp | exchange size quote (RFQ) |
| Lighter RH | BTC | 0.8 bp | order-book snapshot, 33 min old |
| MEXC | BTC_USDT | 2.0 bp | order-book snapshot, 9 min old |
| Extended | BTC-USD | 2.6 bp | order-book snapshot, 36 min old |
| Nado | BTC-PERP_USDT0 | 3.6 bp | order-book snapshot, 31 min old |
| Pacifica | BTC | 4.1 bp | order-book snapshot, 42 min old |
| Aster | BTCUSDT | 4.1 bp | order-book snapshot, 50 min old |
| GRVT | BTC_USDT_Perp | 4.5 bp | order-book snapshot, 54 min old |
| Hyperliquid | BTC | 4.6 bp | order-book snapshot, 2 min old |
| Backpack | BTC_USDC_PERP | 5.0 bp * | order-book snapshot, 55 min old |
| OKX | BTC-USDT-SWAP | 5.0 bp | live order book |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
More on BTC
Questions
Is BTC funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no BTC 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 BTC funding rate?
Perpl at +48.9% a year (0.0040% every 0.7166666666666666666666666667 h); the lowest is RISEx at −18.1%. 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.