NOW Funding Rate — perpetuals across 7 venues

TradFi perpetual · compared across 7 venues · net of estimated fees · updated every few minutes

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

Live annualized NOW perpetual funding across all 7 venues Perpia tracks. Right now NOW funding is positive on 4 and negative on 0, ranging from +22.2% on Bybit to +0.0% on Gate.io — a spread of 22.2%. The widest delta-neutral trade is long Bitget / short Bybit at 19.0% net APR.

venues

paying positive

22.2%

funding spread

Best NOW spread now

19.0%

net APR after fees

Long Bitget→Short Bybit

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

NOW funding trend & liquidity

168h of history

22.2%

current gross APR

0.3%

24h average

6.0%

7-day average

$1.3M

pair OI · lower leg

$432K

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.

NOW funding rate history

30d · 6h buckets · 10 venues

29.4%0-45.8%

4 Aug3 Sep

NOW — average across 10 venuesAsterBitgetKuCoinOKX

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: +2.7%. A break in a line means no data was recorded for that stretch, not a zero rate.

NOW funding rate by venue

12 pairs scanned

Venue	Funding APR	Interval
Bybit ↗	+22.2%	8h
KuCoin ↗	+10.9%	8h
Hyperliquid ↗	+5.5%	1h
trade.xyz ↗	+5.5%	1h
Bitget ↗	+0.0%	8h
OKX ↗	+0.0%	8h
Gate.io ↗	+0.0%	8h

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 Bybit page.

NOW arbitrage — 30-day backtest

long Bitget · short Bybit

3.0%

backtested APR

+$25

historical net P&L on $10,000

0.00%

max drawdown

$10,000$10,025

30 days agostarting capital $10,000today

Over the last 30 days, holding long Bitget / short Bybit would have produced 3.0% APR — versus the 19.0% the live spread implies right now (equity $10,000 → $10,025). 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 NOW backtest…

NOW funding — FAQ

Is NOW funding positive right now?

NOW perpetual funding is positive on 4 of 7 venues Perpia tracks. The highest is +22.2% on Bybit; the lowest is +0.0% on Gate.io.

What is the best NOW funding arbitrage right now?

Go long Bitget and short Bybit for about 19.0% net APR after fees — the widest delta-neutral NOW spread Perpia currently sees.

Which exchange has the highest NOW funding rate?

Bybit, at +22.2% annualized. Funding shifts continuously, so check the live table above before trading.

How NOW 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 NOW

Markets also quoted on both Bitget and Bybit — the same two exchanges you would already have funded for the NOW trade.

See every spread between them on the Bitget vs Bybit page.

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