GBP Funding Rate — perpetuals across 6 venues

TradFi perpetual · compared across 6 venues · net of estimated fees · updated every few minutes

GBP is an equity-linked perpetual referencing GBP, traded on-chain (not a tokenized xStock). Perpia compares its annualized funding across venues and the best delta-neutral spread.

Live annualized GBP perpetual funding across all 6 venues Perpia tracks. Right now GBP funding is positive on 4 and negative on 2, ranging from +22.3% on MEXC to -2.2% on Hyperliquid — a spread of 24.5%. The widest delta-neutral trade is long GMTrade / short MEXC at 18.0% net APR.

venues

paying positive

24.5%

funding spread

Best GBP spread now

18.0%

net APR after fees

Long GMTrade→Short MEXC

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

GBP funding trend & liquidity

168h of history

22.0%

current gross APR

14.8%

24h average

-3.2%

7-day average

$11.6M

pair OI · lower leg

$138K

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.

GBP funding rate history

30d · 6h buckets · 7 venues

40.6%0-38.1%

6 Aug5 Sep

GBP — average across 7 venuesMEXCVesttrade.xyzOstium

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: +0.3%. A break in a line means no data was recorded for that stretch, not a zero rate.

GBP funding rate by venue

5 pairs scanned

Venue	Funding APR	Interval
MEXC ↗	+22.3%	4h
Vest ↗	+5.0%	1h
Ostium ↗	+1.6%	1h
GMTrade ↗	+0.3%	1h
trade.xyz ↗	-2.2%	1h
Hyperliquid ↗	-2.2%	1h

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 GMTrade vs MEXC page.

GBP arbitrage — 30-day backtest

long GMTrade · short MEXC

-3.7%

backtested APR

−$31

historical net P&L on $10,000

0.52%

max drawdown

$10,000$9,969

30 days agostarting capital $10,000today

Over the last 30 days, holding long GMTrade / short MEXC would have produced -3.7% APR — versus the 18.0% the live spread implies right now (equity $10,000 → $9,969). 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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GBP funding — FAQ

Is GBP funding positive right now?

GBP perpetual funding is positive on 4 of 6 venues Perpia tracks and negative on 2. The highest is +22.3% on MEXC; the lowest is -2.2% on Hyperliquid.

What is the best GBP funding arbitrage right now?

Go long GMTrade and short MEXC for about 18.0% net APR after fees — the widest delta-neutral GBP spread Perpia currently sees.

Which exchange has the highest GBP funding rate?

MEXC, at +22.3% annualized. Funding shifts continuously, so check the live table above before trading.

How GBP 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 GBP

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

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

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