FOGO Funding Rate — live across 10 venues

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

Live annualized FOGO perpetual funding across all 10 venues Perpia tracks. Right now FOGO funding is positive on 10 and negative on 0, ranging from +53.7% on Hyperliquid to +10.9% on KuCoin — a spread of 42.7%. The widest delta-neutral trade is long OKX / short Hyperliquid at 36.5% net APR.

venues

paying positive

42.7%

funding spread

Best FOGO spread now

36.5%

net APR after fees

Long OKX→Short Hyperliquid

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

FOGO funding trend & liquidity

168h of history

42.7%

current gross APR

9.7%

24h average

7.7%

7-day average

$294K

pair OI · lower leg

$321K

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.

FOGO funding rate history

30d · 6h buckets · 12 venues

141%0-113.5%

6 Aug5 Sep

FOGO — 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: +10.7%. A break in a line means no data was recorded for that stretch, not a zero rate.

FOGO funding rate by venue

9 pairs scanned

Venue	Funding APR	Interval
Hyperliquid ↗	+53.7%	1h
OKX ↗	+10.9%	4h
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
Aster ↗	+10.9%	1h
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 OKX vs Hyperliquid page.

FOGO arbitrage — 30-day backtest

long OKX · short Hyperliquid

3.9%

backtested APR

+$32

historical net P&L on $10,000

0.00%

max drawdown

$10,000$10,032

30 days agostarting capital $10,000today

Over the last 30 days, holding long OKX / short Hyperliquid would have produced 3.9% APR — versus the 36.5% the live spread implies right now (equity $10,000 → $10,032). 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 FOGO backtest…

FOGO funding — FAQ

Is FOGO funding positive right now?

FOGO perpetual funding is positive on 10 of 10 venues Perpia tracks. The highest is +53.7% on Hyperliquid; the lowest is +10.9% on KuCoin.

What is the best FOGO funding arbitrage right now?

Go long OKX and short Hyperliquid for about 36.5% net APR after fees — the widest delta-neutral FOGO spread Perpia currently sees.

Which exchange has the highest FOGO funding rate?

Hyperliquid, at +53.7% annualized. Funding shifts continuously, so check the live table above before trading.

How FOGO 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 FOGO

Markets also quoted on both Hyperliquid and OKX — the same two exchanges you would already have funded for the FOGO trade.

See every spread between them on the Hyperliquid vs OKX page.

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