W funding rates and arbitrage
Updated 2026-11-11 22:47 UTC
Best W arbitrage after every cost
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
W funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Bybit | WUSDT | 0.0050% | 4 h | +10.9% | +0.4% | $3.3M | 2026-11-12 00:00 |
| WhiteBIT | W_PERP | 0.0050% | 4 h | +10.9% | +11.0% | $978.5K | 2026-11-12 00:00 |
| Bitget | WUSDT | 0.0050% | 4 h | +10.9% | +6.0% | $1.2M | 2026-11-12 00:00 |
| BingX | W-USDT | 0.0050% | 4 h | +10.9% | +9.0% | $551.1K | 2026-11-12 00:00 |
| Arcus | W-USD | 0.0013% | 1 h | +10.9% | −8.6% | $15.5K | 2026-11-11 23:00 |
| Hyperliquid | W | 0.0013% | 1 h | +10.9% | −13.1% | $2.3M | 2026-11-11 23:00 |
| Variational | W-PERP | 0.0050% | 4 h | +10.9% | +12.1% | $41.9K | 2026-11-12 00:00 |
| Kraken | PF_WUSD | 0.0006% | 1 h | +4.9% | −5.0% | $208.6K | 2026-11-11 23:00 |
| KuCoin | WUSDTM | 0.0018% | 4 h | +3.9% | +7.4% | $736.2K | 2026-11-12 00:00 |
| OKX | W-USDT-SWAP | -0.0005% | 4 h | −1.2% | −13.1% | $1.5M | 2026-11-12 00:00 |
| Bitunix | WUSDT | -0.0007% | 4 h | −1.6% | −1.2% | — | 2026-11-12 00:00 |
| MEXC | W_USDT | -0.0031% | 4 h | −6.8% | −1.6% | $3.7M | 2026-11-12 00:00 |
| LBank | WUSDT | -0.0031% | 4 h | −6.8% | +2.8% | — | 2026-11-12 00:00 |
| GRVT | W_USDT_Perp | -0.0031% | 4 h | −6.8% | +3.9% | $116.8K | 2026-11-12 00:00 |
| WOO X | PERP_W_USDT | -0.0031% | 4 h | −6.8% | −1.6% | $952 | 2026-11-12 00:00 |
| Binance | WUSDT | -0.0031% | 4 h | −6.9% | −1.4% | $3.7M | 2026-11-12 00:00 |
| Extended | W-USD | -0.0008% | 1 h | −7.0% | −1.0% | $73.6K | 2026-11-11 23:00 |
| Aster | WUSDT | -0.0051% | 4 h | −11.1% | −11.5% | $25.1K | 2026-11-12 00:00 |
| Crypto.com | WUSD-PERP | -0.0014% | 1 h | −11.8% | −22.3% | $2.7K | 2026-11-11 23:00 |
| Backpack | W_USDC_PERP | -0.0103% | 1 h | −90.1% | +56.8% | $35.7K | 2026-11-11 23:00 |
| Gate | W_USDT | -0.0560% | 4 h | −122.6% | −10.2% | $547.1K | 2026-11-12 00:00 |
Borrow W to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 4.30% | — |
| OKX | 11.07% | — |
| Binance | 15.69% | — |
| Gate | 19.41% | $30K |
| Bybit | 23.37% | — |
Cost to enter $10,000 of W
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | W_USDT | 7.4 bp | live order book |
| GRVT | W_USDT_Perp | 11.7 bp | order-book snapshot, 52 min old |
| BingX | W-USDT | 14.9 bp | live order book |
| Hyperliquid | W | 16.8 bp | live order book |
| Bybit | WUSDT | 19.1 bp | live order book |
| OKX | W-USDT-SWAP | 21.5 bp | live order book |
| Bitget | WUSDT | 22.3 bp | live order book |
| Gate | W_USDT | 35.8 bp | live order book |
| KuCoin | WUSDTM | 67.2 bp | live order book |
| Kraken | PF_WUSD | 85.6 bp | live order book |
| Extended | W-USD | 3.9 bp | top of book only |
| Variational | W-PERP | 9.6 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 W
Questions
Is W funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no W 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 W funding rate?
Bybit at +10.9% a year (0.0050% every 4 h); the lowest is Gate at −122.6%. 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.