ZRX Funding Rate — live across 8 venues

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

Live annualized ZRX perpetual funding across all 8 venues Perpia tracks. Right now ZRX funding is positive on 6 and negative on 2, ranging from +10.9% on OKX to -36.9% on Bybit — a spread of 47.9%. The widest delta-neutral trade is long Bybit / short OKX at 43.8% net APR.

venues

paying positive

47.9%

funding spread

Best ZRX spread now

43.8%

net APR after fees

Long Bybit→Short OKX

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

ZRX funding trend & liquidity

168h of history

47.9%

current gross APR

19.1%

24h average

7.1%

7-day average

$435K

pair OI · lower leg

$377K

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.

ZRX funding rate history

30d · 6h buckets · 8 venues

33.7%0-120.2%

6 Aug5 Sep

ZRX — 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: +4.2%. A break in a line means no data was recorded for that stretch, not a zero rate.

ZRX funding rate by venue

18 pairs scanned

Venue	Funding APR	Interval
OKX ↗	+10.9%	4h
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Gate.io ↗	+10.9%	8h
Bitget ↗	+2.6%	4h
KuCoin ↗	-20.4%	4h
Bybit ↗	-36.9%	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 Bybit vs OKX page.

ZRX arbitrage — 30-day backtest

long Bybit · short OKX

6.0%

backtested APR

+$49

historical net P&L on $10,000

0.08%

max drawdown

$10,000$10,049

30 days agostarting capital $10,000today

Over the last 30 days, holding long Bybit / short OKX would have produced 6.0% APR — versus the 43.8% the live spread implies right now (equity $10,000 → $10,049). 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 ZRX backtest…

ZRX funding — FAQ

Is ZRX funding positive right now?

ZRX perpetual funding is positive on 6 of 8 venues Perpia tracks and negative on 2. The highest is +10.9% on OKX; the lowest is -36.9% on Bybit.

What is the best ZRX funding arbitrage right now?

Go long Bybit and short OKX for about 43.8% net APR after fees — the widest delta-neutral ZRX spread Perpia currently sees.

Which exchange has the highest ZRX funding rate?

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

How ZRX 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 ZRX

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

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

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