Funding rate arbitrage is a market-neutral strategy: you go long the same perpetual on the exchange paying the highest funding rate and short it on the exchange charging the lowest (or most negative) rate. As long as the two prices stay tied, you pocket the difference in funding payments — typically settled every 4 or 8 hours.

The columns explained

• Symbol — the underlying perpetual contract (e.g. BTC-PERP, ETH-PERP).
• Funding rate per exchange — the latest funding rate quoted by each venue, annualized so they are directly comparable.
• Spread — the absolute difference between the highest and lowest funding rate across exchanges for that symbol. Higher spread = more potential edge per cycle.
• Best long / best short — the exchange you would go long on and the exchange you would short on to capture that spread.

Real-world caveats

The headline spread is not your net return. Subtract trading fees on both legs, basis risk (the two perps can briefly de-peg), exchange withdrawal limits and the cost of moving collateral between venues. The opportunities that survive after fees usually live for minutes to hours — this table is updated in real time precisely so you can see when an edge opens and when it closes.

We aggregate funding rates from Binance, Bybit, OKX, Bitget, MEXC, Gate.io and Hyperliquid — the seven main venues where cross-exchange arbitrage is practical at retail size.

Funding rate arbitrage is not risk-free. Counterparty risk, exchange downtime and basis blow-ups can wipe out months of carry in a single event. Not financial advice.