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Funding rate arbitrage: cross-exchange spreads
Open a long where a coin's funding rate is lowest and an equal short where it is highest. Price moves roughly cancel out, and each settlement pays you the difference. Below: the widest spreads right now, then the pairs that actually paid the most over 7 days. Only exchanges with over $1M in 24h volume count (173 coins).
Live Updated · refreshed every 2 minutes
Widest now ↓Best last 7 days ↓
Widest spreads right now
| # | Coin | Long (lowest rate) | Short (highest rate) | Spread/8h | Annualized | Last 7d settled | Fee break-even |
|---|---|---|---|---|---|---|---|
| 1 | IRYS | Long OKX -0.0973%2h | Short Bybit +0.6244%1h |
5.3843% | >+1000% | +2.621% | under 0.1 day |
| 2 | BTW | LongOKX -0.4194%1h | ShortBybit -1.1722%4h |
1.0105% | >+1000% | — | under 0.1 day |
| 3 | ERA | LongBybit -0.9092%4h | Short Bitget -0.1120%1h |
0.9224% | >+1000% | — | under 0.1 day |
| 4 | BIRB | LongBitget -0.5683%4h | ShortBybit -0.0575%1h |
0.6769% | +741.3% | -8.197% | 0.1 day |
| 5 | AXIS | LongBitget -0.3494%4h | ShortBybit -0.0293%4h |
0.6402% | +701.0% | — | 0.1 day |
| 6 | MITO | LongBybit -0.3771%4h | Short Gate -0.1492%4h |
0.4559% | +499.2% | -0.092% | 0.2 day |
| 7 | ARK | Long Binance -1.5578%4h | ShortGate -1.3370%4h |
0.4416% | +483.5% | +0.357% | 0.2 day |
| 8 | IOST | LongGate -0.0484%1h | ShortBybit -0.0048%1h |
0.3491% | +382.3% | +4.764% | 0.2 day |
| 9 | SOPH | LongGate -0.1760%4h | ShortBybit -0.0402%4h |
0.2716% | +297.5% | +0.010% | 0.3 day |
| 10 | DOOD | LongGate -0.1002%4h | ShortBybit +0.0050%4h |
0.2104% | +230.4% | — | 0.3 day |
| 11 | CT | LongBybit -0.1165%4h | ShortBinance -0.0148%4h |
0.2035% | +222.9% | +1.559% | 0.3 day |
| 12 | ARIA | LongBinance +0.0050%4h | ShortBybit +0.0845%4h |
0.1591% | +174.2% | +0.099% | 0.4 day |
| 13 | DNA | LongBybit -0.0600%4h | ShortGate +0.0050%4h |
0.1300% | +142.3% | -0.202% | 0.5 day |
| 14 | IN | LongBinance -0.0356%4h | ShortBybit +0.0050%4h |
0.0812% | +88.9% | -0.167% | 0.9 day |
| 15 | SIREN | LongBinance +0.0575%4h | ShortBybit +0.0968%4h |
0.0785% | +86.0% | +0.369% | 0.9 day |
| 16 | INIT | LongBybit -0.0325%4h | ShortBinance +0.0050%4h |
0.0750% | +82.1% | +0.154% | 0.9 day |
| 17 | LA | LongBinance -0.0312%4h | ShortBybit +0.0050%4h |
0.0725% | +79.4% | +0.156% | 1.0 day |
| 18 | HYPER | LongBybit -0.0250%4h | ShortBinance +0.0050%4h |
0.0599% | +65.6% | -0.041% | 1.2 days |
| 19 | CC | LongBinance -0.0241%4h | ShortBybit +0.0050%4h |
0.0581% | +63.6% | +0.023% | 1.2 days |
| 20 | TRUTH | LongOKX +0.0355%4h | ShortBinance +0.0637%4h |
0.0564% | +61.8% | +0.123% | 1.2 days |
| 21 | WAL | LongBybit -0.0222%4h | ShortBinance +0.0050%4h |
0.0543% | +59.5% | -0.079% | 1.3 days |
| 22 | ALT | LongGate -1.6293% | ShortBinance -0.7879%4h |
0.0535% | +58.5% | -1.165% | 1.2 days |
| 23 | JCT | LongBinance +0.0050%4h | ShortGate +0.0314%4h |
0.0528% | +57.8% | -0.187% | 1.3 days |
| 24 | KMNO | LongBinance -0.0209%4h | ShortBybit +0.0050%4h |
0.0518% | +56.7% | +0.271% | 1.4 days |
| 25 | SOON | LongBinance +0.0050%4h | ShortOKX +0.0308%4h |
0.0517% | +56.6% | -0.080% | 1.3 days |
| 26 | FARTCOIN | LongBybit -0.0204%4h | ShortBinance +0.0050%4h |
0.0509% | +55.7% | +0.008% | 1.4 days |
| 27 | BLUR | LongBybit -0.1660% | ShortOKX -0.0595%4h |
0.0470% | +51.5% | -0.981% | 1.5 days |
| 28 | ARX | LongBybit +0.0050%4h | ShortBinance +0.0277%4h |
0.0454% | +49.8% | +0.048% | 1.5 days |
| 29 | NIGHT | LongBybit -0.0164%4h | ShortOKX +0.0050%4h |
0.0428% | +46.9% | -0.093% | 1.6 days |
| 30 | VVV | LongBybit -0.0160%4h | ShortBinance +0.0050%4h |
0.0419% | +45.9% | +0.069% | 1.7 days |
Paid the most over the last 7 days
Using actual settlements: what holding the same long and short would have collected over the last 7 days. Spreads that last for days matter more than a one-period spike.
| # | Coin | Long (lowest rate) | Short (highest rate) | Spread/8h | Annualized | Last 7d settled | Fee break-even |
|---|---|---|---|---|---|---|---|
| 1 | IOST | LongGate -0.0484%1h | ShortBybit -0.0048%1h |
0.3491% | +382.3% | +4.764% | 0.2 day |
| 2 | IRYS | LongOKX -0.0973%2h | ShortBybit +0.6244%1h |
5.3843% | >+1000% | +2.621% | under 0.1 day |
| 3 | CT | LongBybit -0.1165%4h | ShortBinance -0.0148%4h |
0.2035% | +222.9% | +1.559% | 0.3 day |
| 4 | RLC | LongBinance -0.0146%4h | ShortBybit +0.0100% |
0.0392% | +42.9% | +0.597% | 1.8 days |
| 5 | ESP | LongOKX -0.0118%4h | ShortBinance -0.0004%4h |
0.0228% | +25.0% | +0.458% | 2.9 days |
| 6 | SIREN | LongBinance +0.0575%4h | ShortBybit +0.0968%4h |
0.0785% | +86.0% | +0.369% | 0.9 day |
| 7 | ARK | LongBinance -1.5578%4h | ShortGate -1.3370%4h |
0.4416% | +483.5% | +0.357% | 0.2 day |
| 8 | PHA | LongBinance -0.0147%4h | ShortBybit +0.0050%4h |
0.0395% | +43.2% | +0.286% | 1.8 days |
| 9 | KMNO | LongBinance -0.0209%4h | ShortBybit +0.0050%4h |
0.0518% | +56.7% | +0.271% | 1.4 days |
| 10 | LPT | LongOKX -0.0167%4h | ShortBinance -0.0028%4h |
0.0279% | +30.5% | +0.232% | 2.4 days |
| 11 | MET | LongBinance -0.0097%4h | ShortOKX +0.0050%4h |
0.0294% | +32.2% | +0.228% | 2.3 days |
| 12 | 2Z | LongBybit -0.0143%4h | ShortOKX +0.0050%4h |
0.0386% | +42.3% | +0.218% | 1.8 days |
| 13 | REZ | LongBinance -0.0030%4h | ShortBybit +0.0050%4h |
0.0160% | +17.5% | +0.212% | 4.4 days |
| 14 | MOVR | LongBinance +0.0048%4h | ShortBybit +0.0050%4h |
0.0003% | +0.4% | +0.209% | over 30 days |
| 15 | NMR | LongOKX -0.0040%4h | ShortBinance -0.0007%4h |
0.0066% | +7.2% | +0.197% | 10.1 days |
| 16 | ORDI | LongBybit +0.0031%4h | ShortOKX +0.0050%4h |
0.0037% | +4.1% | +0.189% | 18.8 days |
| 17 | BTR | LongBybit +0.0066%4h | ShortBinance +0.0107%4h |
0.0081% | +8.9% | +0.189% | 8.6 days |
| 18 | ADA | LongBybit -0.0123% | Short HTX +0.0100% |
0.0223% | +24.4% | +0.188% | 3.4 days |
| 19 | ARKM | LongOKX -0.0292% | ShortBitget +0.0100% |
0.0392% | +43.0% | +0.182% | 1.9 days |
| 20 | COTI | LongBinance +0.0044%4h | ShortBybit +0.0100% |
0.0012% | +1.3% | +0.179% | over 30 days |
| 21 | KERNEL | LongBinance +0.0023%4h | ShortBybit +0.0050%4h |
0.0053% | +5.8% | +0.178% | 13.1 days |
| 22 | BOME | LongGate -0.0076%4h | ShortBybit +0.0050%4h |
0.0252% | +27.6% | +0.176% | 2.8 days |
| 23 | NIL | LongGate -0.0001%4h | ShortBinance +0.0050%4h |
0.0102% | +11.2% | +0.167% | 6.5 days |
| 24 | EDGE | LongOKX -0.0063%4h | ShortBinance +0.0050%4h |
0.0227% | +24.8% | +0.165% | 2.9 days |
| 25 | SUI | LongGate +0.0012% | ShortHTX +0.0100% |
0.0088% | +9.6% | +0.163% | 8.3 days |
| 26 | BERA | LongBybit -0.0011%4h | ShortBinance +0.0050%4h |
0.0122% | +13.4% | +0.161% | 5.7 days |
| 27 | LA | LongBinance -0.0312%4h | ShortBybit +0.0050%4h |
0.0725% | +79.4% | +0.156% | 1.0 day |
| 28 | INIT | LongBybit -0.0325%4h | ShortBinance +0.0050%4h |
0.0750% | +82.1% | +0.154% | 0.9 day |
| 29 | MINA | LongOKX -0.0036%4h | ShortBinance +0.0070% |
0.0143% | +15.7% | +0.154% | 4.7 days |
| 30 | RUNE | LongBybit -0.0160% | ShortBinance -0.0059% |
0.0101% | +11.1% | +0.153% | 6.9 days |
Each side shows the exchange's current-period rate with its interval in superscript; 1h and 4h rates are converted to 8 hours before subtracting. Very wide spreads are usually small coins in a squeeze with rates at the cap, and rarely last, so check the 7-day column first. Annualized = spread × 3 × 365, assuming rates never change. "Last 7d settled" adds up what the two exchanges actually settled over the last 7 days, short side received minus long side paid; shown only when both have a complete 7-day record. Negative means holding this pair would have lost money. "Fee break-even" counts opening and closing both legs at standard taker fees (4 trades) and divides by today's spread per day.
How it works and what can go wrong
How it works: say a coin's funding rate is −0.02% on exchange A and +0.03% on exchange B (both per 8 hours). Open a 10,000 USDT long on A and a 10,000 USDT short on B. On A the rate is negative, so the long receives 2 USDT; on B it is positive, so the short receives 3 USDT. You collect 5 USDT every 8 hours, a 0.05% spread.
Rates change every period. A wide spread today can shrink or flip within a few settlements. That is why the table shows the last 7 days of actual settlements: if holding the pair paid you all week, the spread has been steady; if it is negative, today's gap is probably a one-off.
Fees: opening and closing both legs is four trades. On small spreads it can take days to earn the fees back, and a rate change can wipe it out. Maker orders cost less but may not fill right away.
Prices differ between exchanges: the same coin trades at slightly different prices on each exchange, and that gap hits your profit when you open and close, especially on smaller coins.
Liquidation risk: each leg has its own margin on its own exchange. A sharp rally can liquidate the short, a sharp drop the long, and profit on the other exchange does not protect it. Use low leverage and keep spare margin.
Different settlement times: some exchanges settle every hour, others every 8 hours, so payments arrive at different times and your exit time matters. See settlement times, or click a coin for its full comparison and settlement history.