Question 1

Which exchange has the highest ESP funding rate right now?

Accepted Answer

Hotcoin shows the highest ESP funding at +21.92% annualized. A high positive rate means shorts get paid, so this is the venue to short ESP 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 ESP for funding?

Accepted Answer

Toobit has the lowest ESP funding at -42.32% 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 ESP funding-arbitrage pair?

Accepted Answer

The widest spread is long Toobit / short Hotcoin at about 64.2% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does ESP funding settle?

Accepted Answer

ESP 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 ESP funding positive or negative?

Accepted Answer

ESP funding is mixed across venues, ranging -42.32% to +21.92% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current ESP perpetual swap funding rate?

Accepted Answer

The current ESP perpetual swap funding rate ranges from -42.32% to +21.92% annualized depending on the exchange — Toobit is lowest and Hotcoin is highest right now. There is no single ESP 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 ESP funding rate across exchanges?

Accepted Answer

Aggregated across the 19 venues ORBIT tracks, ESP funding currently spans -42.32% to +21.92% APR, a spread of 64.2 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 ESP 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle ESP 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	$183K	$0.1097
Binance Futures	+10.96%	4h	$3.0M	$0.1104
Bybit	+10.96%	4h	$1.1M	$0.1103
OKX	+10.96%	4h	$710K	$0.1103
BingX	+10.96%	4h	$1.0M	$0.1105
Bitget	+10.96%	4h	$1.1M	$0.1105
Gate.io	+10.96%	8h	$130K	$0.1099
KuCoin	+10.96%	4h	$1.9M	$0.1103
MEXC	+10.96%	4h	$859K	$0.1101
Aster	+10.96%	4h	$7K	$0.1097
Bitunix	+10.96%	4h	—	$0.1104
WEEX	+10.96%	4h	$15K	$0.1099
Pionex	+10.96%	4h	$3K	$0.1106
CoinW	+10.96%	4h	—	$0.1096
LBank	+10.96%	4h	—	$0.1096
edgeX V2	+9.16%	4h	$37K	$0.1097
BloFin	+7.05%	4h	$154K	$0.1104
Crypto.com	-34.75%	1h	$5K	$0.1106
ToobitBest Long	-42.32%	4h	$610K	$0.1098

ESP Perpetual Swap Funding Rate by Exchange

How ESP funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

ESP funding rates explained

Frequently asked questions