Question 1

Which exchange has the highest CBRS funding rate right now?

Accepted Answer

Bitget shows the highest CBRS funding at +113.52% annualized. A high positive rate means shorts get paid, so this is the venue to short CBRS 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 CBRS for funding?

Accepted Answer

Phoenix has the lowest CBRS funding at +0.05% 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 CBRS funding-arbitrage pair?

Accepted Answer

The widest spread is long Phoenix / short Bitget at about 113.5% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does CBRS funding settle?

Accepted Answer

CBRS funding settles on different schedules by venue (1h, 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 CBRS funding positive or negative?

Accepted Answer

CBRS funding is currently positive across venues (longs pay shorts), ranging +0.05% to +113.52% APR.

Question 6

What is the current CBRS perpetual swap funding rate?

Accepted Answer

The current CBRS perpetual swap funding rate ranges from +0.05% to +113.52% annualized depending on the exchange — Phoenix is lowest and Bitget is highest right now. There is no single CBRS 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 CBRS funding rate across exchanges?

Accepted Answer

Aggregated across the 26 venues ORBIT tracks, CBRS funding currently spans +0.05% to +113.52% APR, a spread of 113.5 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 CBRS 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle CBRS 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↕
BitgetBest Short	+113.52%	8h	$4.1M	$172.16
Crypto.com	+110.31%	1h	$2K	$171.74
TxFlow	+76.99%	1h	$10K	$172
Bybit	+71.75%	8h	$2.9M	$171.76
OKX	+68.92%	8h	$2.9M	$172.01
Gate.io	+65.96%	8h	$1.9M	$172.1
grvt	+61.58%	8h	$2K	$171.95
KuCoin	+57.09%	8h	$111K	$172.02
Aster	+53.33%	8h	$170K	$171.8261
Pionex	+50.95%	8h	$417K	$171.9505
Hotcoin	+50.11%	8h	$1.8M	$172.06
Bitunix	+49.61%	8h	—	$171.94
Toobit	+49.49%	8h	$1.7M	$172.07
WEEX	+49.47%	8h	$147K	$171.75
LBank	+49.47%	8h	—	$171.99
MEXC	+49.42%	8h	$924K	$171.79
BloFin	+46.97%	8h	$130K	$171.74
Variational	+44.46%	8h	$329K	$171.8775
Polymarket	+24.12%	1h	$111K	$171.88
HTX	+19.78%	8h	$18K	$171.82
Ondo	+16.39%	1h	$216K	$171.8651
WOOFi Pro	+10.96%	8h	$1K	$171.89
QFEX	+10.56%	1h	$570K	$171.395
trade[XYZ]	+5.48%	1h	$18.2M	$171.67
Lighter	+4.38%	1h	$91K	$171.54
PhoenixBest Long	+0.05%	1h	$25K	$171.54

CBRS Perpetual Swap Funding Rate by Exchange

How CBRS funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

CBRS funding rates explained

Frequently asked questions