FRAX Funding Rate — live across 4 venues

Compared across 4 supported venues · net of estimated fees · updated every few minutes

Live annualized FRAX perpetual funding across all 4 venues Perpia tracks. Right now FRAX funding is positive on 2 and negative on 2, ranging from +10.9% on MEXC to -9.9% on BingX — a spread of 20.8%. The widest delta-neutral trade is long BingX / short MEXC at 15.2% net APR.

venues

paying positive

20.8%

funding spread

Best FRAX spread now

15.2%

net APR after fees

Long BingX→Short MEXC

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

FRAX funding trend & liquidity

168h of history

20.8%

current gross APR

15.4%

24h average

11.1%

7-day average

$194K

pair OI · lower leg

$91K

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.

FRAX funding rate history

30d · 6h buckets · 6 venues

149%0-202.6%

6 Aug5 Sep

FRAX — average across 6 venuesAsterBinanceBitgetKuCoin

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: +0.0%. A break in a line means no data was recorded for that stretch, not a zero rate.

FRAX funding rate by venue

4 pairs scanned

Venue	Funding APR	Interval
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Bitget ↗	-7.0%	4h
BingX ↗	-9.9%	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 BingX vs MEXC page.

FRAX arbitrage — 30-day backtest

long BingX · short MEXC

2.6%

backtested APR

+$21

historical net P&L on $10,000

0.17%

max drawdown

$10,000$10,021

30 days agostarting capital $10,000today

Over the last 30 days, holding long BingX / short MEXC would have produced 2.6% APR — versus the 15.2% the live spread implies right now (equity $10,000 → $10,021). 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 FRAX backtest…

FRAX funding — FAQ

Is FRAX funding positive right now?

FRAX perpetual funding is positive on 2 of 4 venues Perpia tracks and negative on 2. The highest is +10.9% on MEXC; the lowest is -9.9% on BingX.

What is the best FRAX funding arbitrage right now?

Go long BingX and short MEXC for about 15.2% net APR after fees — the widest delta-neutral FRAX spread Perpia currently sees.

Which exchange has the highest FRAX funding rate?

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

How FRAX 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 FRAX

Markets also quoted on both BingX and MEXC — the same two exchanges you would already have funded for the FRAX trade.

See every spread between them on the BingX vs MEXC page.

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