Binance and BingX both quote 162 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is BMT — long BingX / short Binance at 348.5% net APR — but the median across all shared markets is 10.3%, which is the number worth planning around.

The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 131 markets go long on Binance and 31 on BingX. 117 markets clear 5% net APR, 82 clear 10%.

Binance pays funding every 4h on 233 markets and every 8h on 83 markets; BingX pays every 4h on 249 markets and every 8h on 78 markets. Both sides settle on the same clock, so a position opened here collects or pays on both legs at once — the spread you see is the spread you get. Binance quotes 317 perpetual markets in total and BingX quotes 329; the 162 they share are what this page ranks. Across its own book Binance runs a median funding rate of 8.9% and BingX 10.9%, so the edge here comes from individual markets rather than from a standing gap between the venues.

Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.