Question 1

Which exchange has the highest BP funding rate right now?

Accepted Answer

Hotcoin shows the highest BP funding at +21.92% annualized. A high positive rate means shorts get paid, so this is the venue to short BP when running a funding-arbitrage pair. Rates change every settlement window — check the live screener for the current value.

Question 2

Which exchange is best to long BP for funding?

Accepted Answer

Phoenix has the lowest BP funding at +2.06% annualized, which makes the long leg cheapest (or paid). Pair it with the highest-funding venue to capture the spread delta-neutral.

Question 3

What is the best BP funding-arbitrage pair?

Accepted Answer

The widest spread is long Phoenix / short Hotcoin at about 19.9% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does BP funding settle?

Accepted Answer

BP funding settles on different schedules by venue (1h, 4h, 8h). Longer intervals concentrate the same annualized rate into fewer, larger payments. ORBIT normalizes every venue to a common APR so they are directly comparable.

Question 5

Is BP funding positive or negative?

Accepted Answer

BP funding is currently positive across venues (longs pay shorts), ranging +2.06% to +21.92% APR.

Question 6

What is the current BP perpetual swap funding rate?

Accepted Answer

The current BP perpetual swap funding rate ranges from +2.06% to +21.92% annualized depending on the exchange — Phoenix is lowest and Hotcoin is highest right now. There is no single BP funding rate: every venue runs its own funding formula and order book, which is why the rate has to be read by exchange rather than as one number.

Question 7

What is the aggregated BP funding rate across exchanges?

Accepted Answer

Aggregated across the 9 venues ORBIT tracks, BP funding currently spans +2.06% to +21.92% APR, a spread of 19.9 percentage points. An aggregated average hides the part that matters for trading — the gap between the cheapest and dearest venue — so the table above lists each exchange separately.

Question 8

How do I read the BP 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle BP every 8 hours quote the per-payment rate, which is charged three times a day. Multiply an 8h rate by 3 to get the daily figure and by 1,095 to annualize it. ORBIT converts every venue — 1h, 4h and 8h alike — to a common APR so an 8h rate and a 1h rate can be compared directly.

Exchange	Funding APR↓	Interval	Open Interest↕	Mark Price↕
HotcoinBest Short	+21.92%	4h	$82K	$1.6708
Gate.io	+10.96%	4h	$561K	$1.7252
MEXC	+10.96%	4h	$885K	$1.5251
Pacifica	+10.96%	1h	$84K	$1.5796
edgeX V2	+10.96%	4h	$4K	$1.4922
LBank	+10.96%	4h	—	$1.5303
WEEX	+10.69%	4h	$46K	$1.513
KuCoin	+5.48%	8h	$163K	$1.4576
PhoenixBest Long	+2.06%	1h	$73K	$1.6176

BP Perpetual Swap Funding Rate by Exchange

How BP funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

BP funding rates explained

Frequently asked questions