C98 Funding Rate — live across 6 venues

Compared across 6 supported venues · net of estimated fees · updated every few minutes

Live annualized C98 perpetual funding across all 6 venues Perpia tracks. Right now C98 funding is positive on 5 and negative on 1, ranging from +10.9% on MEXC to -7.9% on Gate.io — a spread of 18.8%. The widest delta-neutral trade is long Gate.io / short MEXC at 15.7% net APR.

venues

paying positive

18.8%

funding spread

Best C98 spread now

15.7%

net APR after fees

Long Gate.io→Short MEXC

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

C98 funding trend & liquidity

169h of history

18.8%

current gross APR

7.0%

24h average

0.7%

7-day average

$90K

pair OI · lower leg

$21K

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.

C98 funding rate history

30d · 6h buckets · 7 venues

195%0-153.6%

3 Aug2 Sep

C98 — average across 7 venuesBinanceBitgetKuCoinMEXC

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: +7.5%. A break in a line means no data was recorded for that stretch, not a zero rate.

C98 funding rate by venue

5 pairs scanned

Venue	Funding APR	Interval
MEXC ↗	+10.9%	8h
Binance ↗	+10.9%	8h
Bybit ↗	+10.9%	8h
Bitget ↗	+10.9%	8h
KuCoin ↗	+10.9%	8h
Gate.io ↗	-7.9%	8h

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 MEXC page.

C98 arbitrage — 30-day backtest

long Gate.io · short MEXC

-3.2%

backtested APR

−$27

historical net P&L on $10,000

0.70%

max drawdown

$10,000$9,973

30 days agostarting capital $10,000today

Over the last 30 days, holding long Gate.io / short MEXC would have produced -3.2% APR — versus the 15.7% the live spread implies right now (equity $10,000 → $9,973). 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 C98 backtest…

C98 funding — FAQ

Is C98 funding positive right now?

C98 perpetual funding is positive on 5 of 6 venues Perpia tracks and negative on 1. The highest is +10.9% on MEXC; the lowest is -7.9% on Gate.io.

What is the best C98 funding arbitrage right now?

Go long Gate.io and short MEXC for about 15.7% net APR after fees — the widest delta-neutral C98 spread Perpia currently sees.

Which exchange has the highest C98 funding rate?

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

How C98 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 C98

Markets also quoted on both Gate.io and MEXC — the same two exchanges you would already have funded for the C98 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