W funding rates by exchange
The current funding rate for every W 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
- 14
- Venue spread
- 0.032%
- Pays most
- Phemex
- 24h volume
- $14.6M
Right now Phemex pays +0.01% per settlement and Gate.io pays -0.0224% — that gap is what a funding-arbitrage position captures.
Right now 12 of the 14 W 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 W funding accumulated on Kraken, at +2.03% — 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 |
W-USDT | +0.01% | +7.1% | +0.21% | -0.67% | $288K |
 CoinEx |
W-USDT | +0.0088% | +6.0% | -0.13% | -2.50% | $84K |
 KuCoin |
W-USDT | +0.005% | +7.1% | +0.08% | +0.36% | $11K |
 Toobit |
W-USDT | +0.005% | +7.1% | +0.20% | +0.34% | $341K |
 OKX |
W-USDT | +0.005% | +7.3% | -0.20% | -1.13% | $1.7M |
 BingX |
W-USDT | +0.005% | +7.3% | +0.21% | +0.75% | $6.6M |
 MEXC |
W-USDT | +0.005% | +8.0% | +0.19% | +0.34% | $1.2M |
 Bybit |
W-USDT | +0.005% | +7.2% | +0.19% | +0.36% | $1.1M |
 Bitget |
W-USDT | +0.005% | +7.1% | +0.20% | -0.33% | $233K |
 Binance |
W-USDT | +0.005% | +7.3% | +0.19% | +0.33% | $2.6M |
 WEEX |
W-USDT | +0.005% | +7.1% | +0.19% | +0.34% | $0K |
 Hyperliquid |
W-USDT | +0.0013% | +7.7% | +0.10% | -1.41% | $335K |
 Kraken |
W-USDT | -0.0051% | -48.6% | +1.51% | +2.03% | $28K |
 Gate.io |
W-USDT | -0.0224% | -52.7% | +0.25% | -1.13% | $130K |
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 →
MYX
KERNEL
NIGHT
YFI
MOVE
COHR
BROCCOLI
S
HMSTR
BB
EVAA
ENSOFrequently asked questions
What is the W funding rate right now?
W funding currently ranges from +0.01% on Phemex down to -0.0224% on Gate.io 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 W funding?
At the moment Phemex shows the highest W funding rate. This changes at every settlement, so trust the live ranking above rather than any fixed answer.
How do you trade the W 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 W that difference is currently 0.032% per settlement, before the trading fees on both legs.
What an Arbitron subscription unlocks
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