CC Funding Rate — live across 12 venues

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

Live annualized CC perpetual funding across all 12 venues Perpia tracks. Right now CC funding is positive on 10 and negative on 2, ranging from +11.5% on Hyperliquid to -20.9% on Bybit — a spread of 32.5%. The widest delta-neutral trade is long MEXC / short Lighter at 29.5% net APR.

venues

paying positive

32.5%

funding spread

Best CC spread now

29.5%

net APR after fees

Long MEXC→Short Lighter

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

CC funding trend & liquidity

169h of history

31.3%

current gross APR

10.2%

24h average

10.2%

7-day average

$200K

pair OI · lower leg

$184K

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.

CC funding rate history

30d · 6h buckets · 12 venues

364%0-403.9%

5 Aug4 Sep

CC — average across 12 venuesAsterBackPackHyperliquidBinance

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: -13.0%. A break in a line means no data was recorded for that stretch, not a zero rate.

CC funding rate by venue

20 pairs scanned

Venue	Funding APR	Interval
Hyperliquid ↗	+11.5%	1h
Binance ↗	+10.9%	4h
OKX ↗	+10.9%	4h
Variational ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Aster ↗	+10.9%	4h
Lighter ↗	+10.5%	8h
MEXC ↗	-20.8%	4h
Bybit ↗	-20.9%	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.

CC arbitrage — 30-day backtest

long MEXC · short Lighter

1.7%

backtested APR

+$14

historical net P&L on $10,000

0.34%

max drawdown

$10,000$10,014

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short Lighter would have produced 1.7% APR — versus the 29.5% the live spread implies right now (equity $10,000 → $10,014). 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 CC backtest…

CC funding — FAQ

Is CC funding positive right now?

CC perpetual funding is positive on 10 of 12 venues Perpia tracks and negative on 2. The highest is +11.5% on Hyperliquid; the lowest is -20.9% on Bybit.

What is the best CC funding arbitrage right now?

Go long MEXC and short Lighter for about 29.5% net APR after fees — the widest delta-neutral CC spread Perpia currently sees.

Which exchange has the highest CC funding rate?

Hyperliquid, at +11.5% annualized. Funding shifts continuously, so check the live table above before trading.

How CC 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 CC

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