2Z Funding Rate — live across 11 venues
25 DEX + 8 CEX · net of fees · updated continuously
Live annualized 2Z perpetual funding across all 11 venues Perpia tracks. Right now 2Z funding is positive on 7 and negative on 4, ranging from +10.9% on OKX to -128.2% on BackPack — a spread of 139.1%. The widest delta-neutral trade is long BackPack / short OKX at 135.5% net APR.
2Z funding rate by venue
37 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| OKX | +10.9% | 4h |
| Bybit | +10.9% | 4h |
| Bitget | +10.9% | 4h |
| Pacifica | +10.9% | 1h |
| BingX | +5.3% | 4h |
| Binance | +4.0% | 8h |
| MEXC | +3.9% | 8h |
| KuCoin | -22.8% | 4h |
| Hyperliquid | -33.1% | 1h |
| Gate.io | -55.6% | 4h |
| BackPack | -128.2% | 1h |
Rates annualized; updated ~every few minutes from live venue data.
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2Z funding — FAQ
Is 2Z funding positive right now?
2Z perpetual funding is positive on 7 of 11 venues Perpia tracks and negative on 4. The highest is +10.9% on OKX; the lowest is -128.2% on BackPack.
What is the best 2Z funding arbitrage right now?
Go long BackPack and short OKX for about 135.5% net APR after fees — the widest delta-neutral 2Z spread Perpia currently sees.
Which exchange has the highest 2Z funding rate?
OKX, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.
How 2Z funding arbitrage works
Funding-rate arbitrage is delta-neutral: you go long the venue paying the most negative funding and short the one paying the most positive, so price moves cancel and you collect the spread. The catch is liquidity — a huge APR on a thin book caps at a few thousand dollars and often flips within hours. Perpia shows the max size after slippage and tracks whether a spread holds, so you filter instead of chasing the number.