BILL Funding Rate — live across 3 venues

Perpetual funding · compared across 3 venues · net of estimated fees · updated every few minutes

Live annualized BILL perpetual funding across all 3 venues Perpia tracks. Right now BILL funding is positive on 2 and negative on 1, ranging from +10.9% on Binance to -94.1% on BackPack — a spread of 105.0%. The widest delta-neutral trade is long BackPack / short Binance at 83.7% net APR.

3venues

2paying positive

105.0%funding spread

Best BILL spread now

83.7%

net APR after fees

LongBackPack↗→ShortBinance↗

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

BILL funding trend & liquidity

168h of history

105.0%current gross APR

73.1%24h average

4.4%7-day average

$3Kpair OI · lower leg

$12K24h 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.

BILL · BackPack → Binance — no history

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Build a route

any two of the 3 venues

Long (pays you)every 1hShort (you collect)every 4h

Gross spread+105.0%+$28.78 / day on $10,000

Widest routes

This is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.

Venues: pick the two legs

sorted by rate · 3 venues

Venue	Funding APR ↓	Interval
Binance↗short	+10.9%	every 4h
BingX↗	+10.9%	every 4h
below — these venues pay the longs: this is the leg you buy
BackPack↗long	−94.1%	every 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 BackPack vs Binance page. 2 pairs scanned for BILL.

BILL arbitrage — 30-day backtest

long BackPack · short Binance

-14.2%backtested APR

−$116historical net P&L on $10,000

2.33%max drawdown

$10,000$9,884

30 days agostarting capital $10,000today

Over the last 30 days, holding long BackPack / short Binance would have produced -14.2% APR — versus the 83.7% the live spread implies right now (equity $10,000 → $9,884). 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 →

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BILL — FAQ

Is BILL funding positive right now?

BILL perpetual funding is positive on 2 of 3 venues Perpia tracks and negative on 1. The highest is +10.9% on Binance; the lowest is -94.1% on BackPack.

What is the best BILL funding arbitrage right now?

Go long BackPack and short Binance for about 83.7% net APR after fees — the widest delta-neutral BILL spread Perpia currently sees.

Which exchange has the highest BILL funding rate?

Binance, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How BILL 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 BILL

also quoted on both BackPack and Binance

The same two exchanges you would already have funded for the BILL trade. Every spread between them is on the BackPack vs Binance page.

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