XNY Funding Rate — live across 8 venues

Perpetual funding · compared across 8 venues · net of estimated fees · updated every few minutes

Live annualized XNY perpetual funding across all 8 venues Perpia tracks. Right now XNY funding is positive on 8 and negative on 0, ranging from +49.1% on BingX to +10.9% on KuCoin — a spread of 38.1%. The widest delta-neutral trade is long MEXC / short BingX at 35.6% net APR.

8venues

8paying positive

38.1%funding spread

Best XNY spread now

35.6%

net APR after fees

LongMEXC↗→ShortBingX↗

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

XNY funding trend & liquidity

168h of history

38.1%current gross APR

-18.4%24h average

-5.3%7-day average

$179Kpair OI · lower leg

$874K24h 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 · MEXC → BingX — no history

Loading XNY rate history…

Build a route

any two of the 8 venues

Long (pays you)every 4hShort (you collect)every 4h

Gross spread+38.1%+$10.44 / day on $10,000

Widest routes

This is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.

Venues: pick the two legs

sorted by rate · 8 venues

Venue	Funding APR ↓	Interval
BingX↗short	+49.1%	every 4h
Bybit↗	+47.3%	every 4h
Aster↗	+11.0%	every 4h
MEXC↗long	+10.9%	every 4h
Binance↗	+10.9%	every 4h
Gate.io↗	+10.9%	every 4h
Variational↗	+10.9%	every 4h
KuCoin↗	+10.9%	every 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 BingX page. 12 pairs scanned for XNY.

XNY arbitrage — 30-day backtest

long MEXC · short BingX

5.6%backtested APR

+$46historical net P&L on $10,000

0.11%max drawdown

$10,000$10,046

30 days agostarting capital $10,000today

Over the last 30 days, holding long MEXC / short BingX would have produced 5.6% APR — versus the 35.6% the live spread implies right now (equity $10,000 → $10,046). 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 — FAQ

Is XNY funding positive right now?

XNY perpetual funding is positive on 8 of 8 venues Perpia tracks. The highest is +49.1% on BingX; the lowest is +10.9% on KuCoin.

What is the best XNY funding arbitrage right now?

Go long MEXC and short BingX for about 35.6% net APR after fees — the widest delta-neutral XNY spread Perpia currently sees.

Which exchange has the highest XNY funding rate?

BingX, at +49.1% 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

also quoted on both BingX and MEXC

The same two exchanges you would already have funded for the XNY trade. Every spread between them is on the BingX vs MEXC page.

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