APEX Funding Rate — live across 5 venues

Compared across 5 supported venues · net of estimated fees · updated every few minutes

Live annualized APEX perpetual funding across all 5 venues Perpia tracks. Right now APEX funding is positive on 5 and negative on 0, ranging from +38.5% on Lighter to +10.9% on BingX — a spread of 27.6%. The widest delta-neutral trade is long MEXC / short Lighter at 22.3% net APR.

venues

paying positive

27.6%

funding spread

Best APEX spread now

22.3%

net APR after fees

Long MEXC→Short Lighter

size depends on live venue depth — see the real cap in the scanner

APEX funding trend & liquidity

169h of history

27.6%

current gross APR

2.4%

24h average

13.0%

7-day average

$32K

pair OI · lower leg

$17K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

APEX funding rate history

30d · 6h buckets · 6 venues

429%0-45.5%

5 Aug4 Sep

APEX — average across 6 venuesHyperliquidMEXCBybitLighter

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +25.0%. A break in a line means no data was recorded for that stretch, not a zero rate.

APEX funding rate by venue

4 pairs scanned

Venue	Funding APR	Interval
Lighter ↗	+38.5%	8h
MEXC ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
Hyperliquid ↗	+10.9%	1h
BingX ↗	+10.9%	4h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the MEXC vs Lighter page.

APEX arbitrage — 30-day backtest

long MEXC · short Lighter

17.7%

backtested APR

+$146

historical net P&L on $10,000

0.01%

max drawdown

$10,000$10,146

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short Lighter would have produced 17.7% APR — versus the 22.3% the live spread implies right now (equity $10,000 → $10,146). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading APEX backtest…

APEX funding — FAQ

Is APEX funding positive right now?

APEX perpetual funding is positive on 5 of 5 venues Perpia tracks. The highest is +38.5% on Lighter; the lowest is +10.9% on BingX.

What is the best APEX funding arbitrage right now?

Go long MEXC and short Lighter for about 22.3% net APR after fees — the widest delta-neutral APEX spread Perpia currently sees.

Which exchange has the highest APEX funding rate?

Lighter, at +38.5% annualized. Funding shifts continuously, so check the live table above before trading.

How APEX funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to APEX

Markets also quoted on both Lighter and MEXC — the same two exchanges you would already have funded for the APEX trade.

See every spread between them on the Lighter vs MEXC page.

Open the live scanner →All funding rates Funding by exchange How we calculate this