SPELL Funding Rate — live across 3 venues

Compared across 3 supported venues · net of estimated fees · updated every few minutes

Live annualized SPELL perpetual funding across all 3 venues Perpia tracks. Right now SPELL funding is positive on 1 and negative on 2, ranging from +10.9% on Bitget to -4.3% on Binance — a spread of 15.3%. The widest delta-neutral trade is long MEXC / short Bitget at 10.8% net APR.

venues

paying positive

15.3%

funding spread

Best SPELL spread now

10.8%

net APR after fees

Long MEXC→Short Bitget

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

SPELL funding trend & liquidity

168h of history

15.2%

current gross APR

1.3%

24h average

0.3%

7-day average

$379K

pair OI · lower leg

$20K

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.

SPELL funding rate history

30d · 6h buckets · 6 venues

26.1%0-189.6%

10 Aug9 Sep

SPELL — average across 6 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: +8.4%. A break in a line means no data was recorded for that stretch, not a zero rate.

SPELL funding rate by venue

2 pairs scanned

Venue	Funding APR	Interval
Bitget ↗	+10.9%	8h
MEXC ↗	-4.3%	8h
Binance ↗	-4.3%	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 MEXC vs Bitget page.

SPELL arbitrage — 30-day backtest

long MEXC · short Bitget

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 MEXC / short Bitget would have produced 3.0% APR — versus the 10.8% 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 SPELL backtest…

SPELL funding — FAQ

Is SPELL funding positive right now?

SPELL perpetual funding is positive on 1 of 3 venues Perpia tracks and negative on 2. The highest is +10.9% on Bitget; the lowest is -4.3% on Binance.

What is the best SPELL funding arbitrage right now?

Go long MEXC and short Bitget for about 10.8% net APR after fees — the widest delta-neutral SPELL spread Perpia currently sees.

Which exchange has the highest SPELL funding rate?

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

How SPELL 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 SPELL

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

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

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