Pionexvs
Bybit
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
Funding setups between these venues
Across 48 liquid markets shared by Bybit and Pionex, the best funding setup over the past 7 days is $BRENT (long Bybit, short Pionex): it paid 56.8% APR, 45.8% after costs, and held 69% of the time.
48 common liquid markets. Ranked by what the setup actually paid over 7 days after entry and exit costs β not by the instantaneous APR.
β7d avgβ is the funding spread the pair actually paid over the last 7 days. βAfter costsβ subtracts taker fees for opening and closing both legs over a 7-day hold. βHoldsβ is the share of hours the spread kept the same sign and at least 5% APR.
| Pionex | Bybit | |
|---|---|---|
| Type | CEX | CEX |
| Taker fee | 0.05%β | 0.055% |
| Maker fee | 0.02% | 0.02% |
| Open Interest | $362.5M | $12.55Bβ |
| 24h Volume | $4.56B | $6.55Bβ |
| Avg Funding APR | 8.46% | 6.07% |
| Markets | 432 | 771β |
| Airdrop / token | Listed | Listed |
Pionex and Bybit are both perpetual-futures venues tracked on ORBIT. On fees, Pionex is cheaper (0.05% vs 0.055% taker). On liquidity, Bybit is deeper with $12.55B open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely βone or the otherβ β you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where Pionex and Bybit diverge right now, then verify the pair in the backtester.
Frequently asked questions
- Which funding setup between Pionex and Bybit pays most?
- Across 48 liquid markets shared by Bybit and Pionex, the best funding setup over the past 7 days is $BRENT (long Bybit, short Pionex): it paid 56.8% APR, 45.8% after costs, and held 69% of the time. Ranking is by the 7-day payout after costs, not by the instantaneous APR.
- Is Pionex or Bybit cheaper?
- Pionex charges 0.05% taker / 0.02% maker; Bybit charges 0.055% taker / 0.02% maker. Pionex has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, Pionex or Bybit?
- Pionex has $362.5M open interest across 432 markets; Bybit has $12.55B across 771. Bybit is deeper, which means lower slippage at size.
- Can I run funding arbitrage between Pionex and Bybit?
- Yes β when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.