S funding rates by exchange
The current funding rate for every S perpetual we track, venue by venue, with 7-day and 30-day accumulated funding and the annualised rate. A positive rate means longs pay shorts.
- Exchanges
- 17
- Venue spread
- 0.039%
- Pays most
- Phemex
- 24h volume
- $14.1M
Right now Phemex pays +0.01% per settlement and Kraken pays -0.0294% — that gap is what a funding-arbitrage position captures.
Right now 7 of the 17 S contracts carry a positive rate and the rest are negative. The sign itself differs by venue, which is the cleanest setup for a funding trade: collect on one leg instead of merely paying less on it.
Over the last 30 days the most S funding accumulated on Phemex, at +0.90% — worth checking against the current rate, because the leader on accumulated funding is often not the leader today.
Click a column header to sort · use Columns to show or hide metrics
| Exchange | Contract | Current rate | APR | 7d sum | 30d sum | 24h volume |
|---|---|---|---|---|---|---|
 Phemex |
S-USDT | +0.01% | +7.1% | +0.21% | +0.90% | $230K |
 Bitget |
S-USDT | +0.005% | +7.1% | +0.00% | -0.44% | $458K |
 BingX |
S-USDT | +0.005% | +7.3% | +0.18% | +0.80% | $6.6M |
 Gate.io |
S-USDT | +0.005% | +7.3% | +0.14% | +0.18% | $21K |
 Bybit |
S-USDT | +0.005% | +7.2% | +0.09% | +0.50% | $1.7M |
 OKX |
S-USDT | +0.005% | +7.3% | -0.04% | -0.57% | $638K |
 Lighter |
S-USDT | +0.0012% | +8.1% | -0.45% | -0.71% | $7K |
 Toobit |
S-USDT | -0.0037% | -11.9% | +0.07% | -0.09% | $451K |
 MEXC |
S-USDT | -0.0037% | -11.0% | +0.07% | -0.16% | $506K |
 Binance |
S-USDT | -0.0038% | -11.9% | +0.07% | -0.16% | $2.5M |
 WEEX |
S-USDT | -0.0038% | -12.1% | +0.07% | -0.17% | $0K |
 KuCoin |
S-USDT | -0.0047% | -14.2% | +0.11% | -0.20% | $580K |
 Hyperliquid |
S-USDT | -0.005% | -46.9% | -0.41% | -1.04% | $177K |
 BloFin |
S-USDT | -0.005% | -14.9% | +0.07% | -0.15% | $72K |
 Aster |
S-USDT | -0.0078% | -72.3% | -0.30% | -2.27% | $8K |
 CoinEx |
S-USDT | -0.0235% | -29.4% | -0.60% | -3.08% | $175K |
 Kraken |
S-USDT | -0.0294% | -261.4% | +0.84% | -0.96% | $9K |
Rates come straight from exchange data and change at every settlement; APR annualises the current rate at the contract's own funding interval. Market data, not investment advice.
Other coins
Funding rates by coin →
BROCCOLI
ENSO
MYX
M
FOLKS
YFI
COHR
KERNEL
HMSTR
POPCAT
W
BBFrequently asked questions
What is the S funding rate right now?
S funding currently ranges from +0.01% on Phemex down to -0.0294% on Kraken per settlement — the table above lists every venue. A positive rate means long positions pay short positions at the next settlement; a negative rate means the reverse.
Which exchange pays the highest S funding?
At the moment Phemex shows the highest S funding rate. This changes at every settlement, so trust the live ranking above rather than any fixed answer.
How do you trade the S funding difference?
You hold offsetting positions on two venues — long where funding is negative, short where it is positive — so price exposure cancels out and you collect the difference at each settlement. On S that difference is currently 0.039% per settlement, before the trading fees on both legs.
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