BILL Funding Rate — live across 10 venues

Compared across 10 supported venues · net of estimated fees · updated every few minutes

Live annualized BILL perpetual funding across all 10 venues Perpia tracks. Right now BILL funding is positive on 10 and negative on 0, ranging from +53.2% on BackPack to +10.9% on KuCoin — a spread of 42.2%. The widest delta-neutral trade is long Gate.io / short BackPack at 35.3% net APR.

venues

paying positive

42.2%

funding spread

Best BILL spread now

35.3%

net APR after fees

Long Gate.io→Short BackPack

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

BILL funding trend & liquidity

168h of history

42.2%

current gross APR

21.9%

24h average

-0.2%

7-day average

$21K

pair OI · lower leg

$104K

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.

BILL funding rate history

30d · 6h buckets · 10 venues

290%0-127.4%

6 Aug5 Sep

BILL — average across 10 venuesAsterBackPackExtendedBinance

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: +26.8%. A break in a line means no data was recorded for that stretch, not a zero rate.

BILL funding rate by venue

24 pairs scanned

Venue	Funding APR	Interval
BackPack ↗	+53.2%	1h
BingX ↗	+30.9%	4h
OKX ↗	+30.1%	4h
Bybit ↗	+29.2%	4h
Bitget ↗	+17.7%	4h
Binance ↗	+16.3%	4h
Extended ↗	+15.8%	1h
MEXC ↗	+15.3%	4h
Gate.io ↗	+10.9%	4h
KuCoin ↗	+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 Gate.io vs BackPack page.

BILL arbitrage — 30-day backtest

long Gate.io · short BackPack

39.6%

backtested APR

+$325

historical net P&L on $10,000

0.63%

max drawdown

$10,000$10,325

30 days agostarting capital $10,000today

Over the last 30 days, holding long Gate.io / short BackPack would have produced 39.6% APR — versus the 35.3% the live spread implies right now (equity $10,000 → $10,325). 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 funding — FAQ

Is BILL funding positive right now?

BILL perpetual funding is positive on 10 of 10 venues Perpia tracks. The highest is +53.2% on BackPack; the lowest is +10.9% on KuCoin.

What is the best BILL funding arbitrage right now?

Go long Gate.io and short BackPack for about 35.3% net APR after fees — the widest delta-neutral BILL spread Perpia currently sees.

Which exchange has the highest BILL funding rate?

BackPack, at +53.2% 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

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

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

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