XNY Funding Rate — live across 7 venues

Compared across 7 supported venues · net of estimated fees · updated every few minutes

Live annualized XNY perpetual funding across all 7 venues Perpia tracks. Right now XNY funding is positive on 7 and negative on 0, ranging from +82.5% on Bybit to +10.9% on Aster — a spread of 71.5%. The widest delta-neutral trade is long MEXC / short Bybit at 66.2% net APR.

venues

paying positive

71.5%

funding spread

Best XNY spread now

66.2%

net APR after fees

Long MEXC→Short Bybit

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

XNY funding trend & liquidity

168h of history

71.5%

current gross APR

0.2%

24h average

-18.5%

7-day average

$191K

pair OI · lower leg

$121K

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.

XNY funding rate history

30d · 6h buckets · 7 venues

187%0-13.9%

4 Aug3 Sep

XNY — 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: +28.2%. A break in a line means no data was recorded for that stretch, not a zero rate.

XNY funding rate by venue

10 pairs scanned

Venue	Funding APR	Interval
Bybit ↗	+82.5%	4h
BingX ↗	+42.9%	4h
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Aster ↗	+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 MEXC vs Bybit page.

XNY arbitrage — 30-day backtest

long MEXC · short Bybit

25.0%

backtested APR

+$206

historical net P&L on $10,000

0.40%

max drawdown

$10,000$10,206

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short Bybit would have produced 25.0% APR — versus the 66.2% the live spread implies right now (equity $10,000 → $10,206). 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 →

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XNY funding — FAQ

Is XNY funding positive right now?

XNY perpetual funding is positive on 7 of 7 venues Perpia tracks. The highest is +82.5% on Bybit; the lowest is +10.9% on Aster.

What is the best XNY funding arbitrage right now?

Go long MEXC and short Bybit for about 66.2% net APR after fees — the widest delta-neutral XNY spread Perpia currently sees.

Which exchange has the highest XNY funding rate?

Bybit, at +82.5% annualized. Funding shifts continuously, so check the live table above before trading.

How XNY 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 XNY

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