TURTLE Funding Rate — live across 6 venues

Compared across 6 supported venues · net of estimated fees · updated every few minutes

Live annualized TURTLE perpetual funding across all 6 venues Perpia tracks. Right now TURTLE funding is positive on 6 and negative on 0, ranging from +198.1% on Bybit to +10.9% on KuCoin — a spread of 187.2%. The widest delta-neutral trade is long Gate.io / short Bybit at 182.6% net APR.

venues

paying positive

187.2%

funding spread

Best TURTLE spread now

182.6%

net APR after fees

Long Gate.io→Short Bybit

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

TURTLE funding trend & liquidity

168h of history

187.2%

current gross APR

34.7%

24h average

7.2%

7-day average

$65K

pair OI · lower leg

$17K

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.

TURTLE funding rate history

30d · 6h buckets · 7 venues

71.6%0-7.8%

6 Aug5 Sep

TURTLE — average across 7 venuesAsterBinanceKuCoinMEXC

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: +12.2%. A break in a line means no data was recorded for that stretch, not a zero rate.

TURTLE funding rate by venue

12 pairs scanned

Venue	Funding APR	Interval
Bybit ↗	+198.1%	4h
BingX ↗	+193.2%	4h
MEXC ↗	+39.6%	4h
Binance ↗	+39.1%	4h
Gate.io ↗	+10.9%	8h
KuCoin ↗	+10.9%	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 Gate.io vs Bybit page.

TURTLE arbitrage — 30-day backtest

long Gate.io · short Bybit

11.3%

backtested APR

+$93

historical net P&L on $10,000

0.00%

max drawdown

$10,000$10,093

30 days agostarting capital $10,000today

Over the last 30 days, holding long Gate.io / short Bybit would have produced 11.3% APR — versus the 182.6% the live spread implies right now (equity $10,000 → $10,093). 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 TURTLE backtest…

TURTLE funding — FAQ

Is TURTLE funding positive right now?

TURTLE perpetual funding is positive on 6 of 6 venues Perpia tracks. The highest is +198.1% on Bybit; the lowest is +10.9% on KuCoin.

What is the best TURTLE funding arbitrage right now?

Go long Gate.io and short Bybit for about 182.6% net APR after fees — the widest delta-neutral TURTLE spread Perpia currently sees.

Which exchange has the highest TURTLE funding rate?

Bybit, at +198.1% annualized. Funding shifts continuously, so check the live table above before trading.

How TURTLE 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 TURTLE

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

See every spread between them on the Bybit vs Gate.io page.

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