WAL Funding Rate — live across 8 venues

Compared across 8 supported venues · net of estimated fees · updated every few minutes

Live annualized WAL perpetual funding across all 8 venues Perpia tracks. Right now WAL funding is positive on 6 and negative on 2, ranging from +10.9% on MEXC to -29.8% on Bybit — a spread of 40.8%. The widest delta-neutral trade is long Bybit / short MEXC at 37.4% net APR.

venues

paying positive

40.8%

funding spread

Best WAL spread now

37.4%

net APR after fees

Long Bybit→Short MEXC

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

WAL funding trend & liquidity

169h of history

40.8%

current gross APR

17.9%

24h average

11.5%

7-day average

$339K

pair OI · lower leg

$180K

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.

WAL funding rate history

30d · 6h buckets · 8 venues

105%0-544.8%

3 Aug2 Sep

WAL — average across 8 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: -25.2%. A break in a line means no data was recorded for that stretch, not a zero rate.

WAL funding rate by venue

11 pairs scanned

Venue	Funding APR	Interval
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
OKX ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
BingX ↗	-24.6%	4h
Bybit ↗	-29.8%	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 Bybit vs MEXC page.

WAL arbitrage — 30-day backtest

long Bybit · short MEXC

-1.1%

backtested APR

−$9

historical net P&L on $10,000

1.16%

max drawdown

$10,000$9,991

30 days agostarting capital $10,000today

Over the last 30 days, holding long Bybit / short MEXC would have produced -1.1% APR — versus the 37.4% the live spread implies right now (equity $10,000 → $9,991). 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 WAL backtest…

WAL funding — FAQ

Is WAL funding positive right now?

WAL perpetual funding is positive on 6 of 8 venues Perpia tracks and negative on 2. The highest is +10.9% on MEXC; the lowest is -29.8% on Bybit.

What is the best WAL funding arbitrage right now?

Go long Bybit and short MEXC for about 37.4% net APR after fees — the widest delta-neutral WAL spread Perpia currently sees.

Which exchange has the highest WAL funding rate?

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

How WAL 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 WAL

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

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

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