NMR Funding Rate — live across 9 venues

Compared across 9 supported venues · net of estimated fees · updated every few minutes

Live annualized NMR perpetual funding across all 9 venues Perpia tracks. Right now NMR funding is positive on 9 and negative on 0, ranging from +10.9% on MEXC to +3.3% on OKX — a spread of 7.7%. The widest delta-neutral trade is long OKX / short MEXC at 4.9% net APR.

venues

paying positive

7.7%

funding spread

Best NMR spread now

4.9%

net APR after fees

Long OKX→Short MEXC

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

NMR funding trend & liquidity

169h of history

7.7%

current gross APR

5.4%

24h average

0.9%

7-day average

$329K

pair OI · lower leg

$106K

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.

NMR funding rate history

30d · 6h buckets · 9 venues

130%0-86.7%

3 Aug2 Sep

NMR — average across 9 venuesBinanceBitgetKuCoinMEXC

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: +6.5%. A break in a line means no data was recorded for that stretch, not a zero rate.

NMR funding rate by venue

8 pairs scanned

Venue	Funding APR	Interval
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
Gate.io ↗	+10.9%	8h
KuCoin ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Lighter ↗	+10.5%	8h
OKX ↗	+3.3%	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 MEXC page.

NMR arbitrage — 30-day backtest

long OKX · short MEXC

3.8%

backtested APR

+$31

historical net P&L on $10,000

0.12%

max drawdown

$10,000$10,031

30 days agostarting capital $10,000today

Over the last 30 days, holding long OKX / short MEXC would have produced 3.8% APR — versus the 4.9% the live spread implies right now (equity $10,000 → $10,031). 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 NMR backtest…

NMR funding — FAQ

Is NMR funding positive right now?

NMR perpetual funding is positive on 9 of 9 venues Perpia tracks. The highest is +10.9% on MEXC; the lowest is +3.3% on OKX.

What is the best NMR funding arbitrage right now?

Go long OKX and short MEXC for about 4.9% net APR after fees — the widest delta-neutral NMR spread Perpia currently sees.

Which exchange has the highest NMR funding rate?

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

How NMR 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 NMR

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

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

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