USDC funding rates and arbitrage
Updated 2026-11-11 22:51 UTC
Best USDC arbitrage after every cost
| Coin | Pair | Long | Short | Net · 168 h | Net APR | Max size | Status |
|---|---|---|---|---|---|---|---|
| USDC | Perp ↔ perp | Binance USDCUSDT | Bybit USDCUSDT | +$0.56 † | +0.3% | — | Watch |
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry. † slippage estimated from the top of the book (no live order book for this pair); ‡ before slippage (no order book at all).
USDC funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Bybit | USDCUSDT | 0.0100% | 8 h | +10.9% | −1.1% | $7.3M | 2026-11-12 00:00 |
| KuCoin | USDCUSDTM | 0.0100% | 8 h | +10.9% | +10.2% | $1.4M | 2026-11-12 00:00 |
| Gate | USDC_USDT | 0.0069% | 8 h | +7.6% | +4.9% | $106.5K | 2026-11-12 00:00 |
| Bitget | USDCUSDT | 0.0033% | 8 h | +3.6% | +3.3% | $3.3M | 2026-11-12 00:00 |
| OKX | USDC-USDT-SWAP | 0.0000% | 8 h | 0.0% | 0.0% | $746.6K | 2026-11-12 00:00 |
| MEXC | USDC_USDT | -0.0007% | 8 h | −0.8% | +0.2% | $14M | 2026-11-12 00:00 |
| Binance | USDCUSDT | -0.0007% | 8 h | −0.8% | +0.2% | $3.4M | 2026-11-12 00:00 |
| Kraken | PF_USDCUSD | -0.0008% | 1 h | −6.6% | −15.1% | $14.1K | 2026-11-11 23:00 |
Cost to enter $10,000 of USDC
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | USDC_USDT | 4.0 bp | top of book only |
| OKX | USDC-USDT-SWAP | 5.0 bp | top of book only |
| Binance | USDCUSDT | 5.0 bp | top of book only |
| Bybit | USDCUSDT | 6.0 bp | top of book only |
| Kraken | PF_USDCUSD | 6.5 bp | top of book only |
| Bitget | USDCUSDT | 7.5 bp | top of book only |
| Gate | USDC_USDT | 10.0 bp | top of book only |
| KuCoin | USDCUSDTM | 15.0 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees.
Questions
Is USDC funding-rate arbitrage profitable right now?
Not right now. At $10,000 per side for 7 days the best USDC pair (Binance / Bybit) would net +$0.56 after taker fees, order-book slippage and carry, but it is on watch rather than actionable; the live page shows what holds it back.
Which exchange has the highest USDC funding rate?
Bybit at +10.9% a year (0.0100% every 8 h); the lowest is Kraken at −6.6%. 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.