BASED Funding Rate — live across 12 venues

Compared across 12 supported venues · net of estimated fees · updated every few minutes

Live annualized BASED perpetual funding across all 12 venues Perpia tracks. Right now BASED funding is positive on 11 and negative on 0, ranging from +63.7% on Gate.io to +0.0% on HyENA — a spread of 63.7%. The widest delta-neutral trade is long MEXC / short Gate.io at 49.4% net APR.

venues

paying positive

63.7%

funding spread

Best BASED spread now

49.4%

net APR after fees

Long MEXC→Short Gate.io

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

BASED funding trend & liquidity

168h of history

52.8%

current gross APR

8.6%

24h average

6.5%

7-day average

$674K

pair OI · lower leg

$240K

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.

BASED funding rate history

30d · 6h buckets · 12 venues

79.2%0-5.9%

6 Aug5 Sep

BASED — average across 12 venuesAsterExtendedBinanceBitget

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: +14.9%. A break in a line means no data was recorded for that stretch, not a zero rate.

BASED funding rate by venue

18 pairs scanned

Venue	Funding APR	Interval
Gate.io ↗	+63.7%	4h
Aster ↗	+32.5%	1h
MEXC ↗	+10.9%	4h
OKX ↗	+10.9%	4h
Binance ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Sodex ↗	+10.9%	1h
Variational ↗	+10.9%	4h
HyENA ↗	+0.0%	1h

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 Gate.io page.

BASED arbitrage — 30-day backtest

long MEXC · short Gate.io

7.8%

backtested APR

+$64

historical net P&L on $10,000

0.06%

max drawdown

$10,000$10,064

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short Gate.io would have produced 7.8% APR — versus the 49.4% the live spread implies right now (equity $10,000 → $10,064). 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 BASED backtest…

BASED funding — FAQ

Is BASED funding positive right now?

BASED perpetual funding is positive on 11 of 12 venues Perpia tracks. The highest is +63.7% on Gate.io; the lowest is +0.0% on HyENA.

What is the best BASED funding arbitrage right now?

Go long MEXC and short Gate.io for about 49.4% net APR after fees — the widest delta-neutral BASED spread Perpia currently sees.

Which exchange has the highest BASED funding rate?

Gate.io, at +63.7% annualized. Funding shifts continuously, so check the live table above before trading.

How BASED 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 BASED

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

See every spread between them on the Gate.io vs MEXC page.

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