MAGIC Funding Rate — live across 9 venues

Perpetual funding · compared across 9 venues · net of estimated fees · updated every few minutes

Live annualized MAGIC perpetual funding across all 9 venues Perpia tracks. Right now MAGIC funding is positive on 2 and negative on 7, ranging from +100.8% on Gate.io to -134.0% on Bitget — a spread of 234.9%. The widest delta-neutral trade is long Bitget / short Gate.io at 231.7% net APR.

9venues

2paying positive

234.9%funding spread

Best MAGIC spread now

231.7%

net APR after fees

LongBitget↗→ShortGate.io↗

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

MAGIC funding trend & liquidity

168h of history

234.9%current gross APR

60.7%24h average

10.2%7-day average

$3.6Mpair OI · lower leg

$33.3M24h 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.

MAGIC · Bitget → Gate.io — no history

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Build a route

any two of the 9 venues

Long (pays you)every 4hShort (you collect)every 8h

Gross spread+234.9%+$64.35 / day on $10,000

Widest routes

This is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.

Venues: pick the two legs

sorted by rate · 9 venues

Venue	Funding APR ↓	Interval
Gate.io↗short	+100.8%	every 8h
Variational↗	+10.9%	every 4h
below — these venues pay the longs: this is the leg you buy
MEXC↗	−9.0%	every 4h
Binance↗	−9.1%	every 4h
Bybit↗	−16.6%	every 4h
KuCoin↗	−38.3%	every 4h
OKX↗	−65.7%	every 4h
BingX↗	−126.6%	every 4h
Bitget↗long	−134.0%	every 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 Bitget vs Gate.io page. 32 pairs scanned for MAGIC.

MAGIC arbitrage — 30-day backtest

long Bitget · short Gate.io

3.6%backtested APR

+$30historical net P&L on $10,000

0.22%max drawdown

$10,000$10,030

30 days agostarting capital $10,000today

Over the last 30 days, holding long Bitget / short Gate.io would have produced 3.6% APR — versus the 231.7% the live spread implies right now (equity $10,000 → $10,030). 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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MAGIC — FAQ

Is MAGIC funding positive right now?

MAGIC perpetual funding is positive on 2 of 9 venues Perpia tracks and negative on 7. The highest is +100.8% on Gate.io; the lowest is -134.0% on Bitget.

What is the best MAGIC funding arbitrage right now?

Go long Bitget and short Gate.io for about 231.7% net APR after fees — the widest delta-neutral MAGIC spread Perpia currently sees.

Which exchange has the highest MAGIC funding rate?

Gate.io, at +100.8% annualized. Funding shifts continuously, so check the live table above before trading.

How MAGIC 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 MAGIC

also quoted on both Bitget and Gate.io

The same two exchanges you would already have funded for the MAGIC trade. Every spread between them is on the Bitget vs Gate.io page.

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