Bitget and Gate.io both quote 148 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 MEW — long Gate.io / short Bitget at 338.6% net APR — but the median across all shared markets is 17.8%, 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 49 markets go long on Bitget and 99 on Gate.io. 126 markets clear 5% net APR, 102 clear 10%.

Bitget pays funding every 8h on 227 markets and every 4h on 212 markets; Gate.io pays every 8h on 226 markets and every 4h on 201 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. Bitget quotes 440 perpetual markets in total and Gate.io quotes 429; the 148 they share are what this page ranks. Across its own book Bitget runs a median funding rate of 10.9% and Gate.io 2.8%, 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.