Question 1

Which exchange has the highest FWDI funding rate right now?

Accepted Answer

Bybit shows the highest FWDI funding at +99.72% annualized. A high positive rate means shorts get paid, so this is the venue to short FWDI 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 FWDI for funding?

Accepted Answer

Bitunix has the lowest FWDI funding at -74.05% 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 FWDI funding-arbitrage pair?

Accepted Answer

The widest spread is long Bitunix / short Bybit at about 173.8% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does FWDI funding settle?

Accepted Answer

FWDI 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 FWDI funding positive or negative?

Accepted Answer

FWDI funding is mixed across venues, ranging -74.05% to +99.72% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current FWDI perpetual swap funding rate?

Accepted Answer

The current FWDI perpetual swap funding rate ranges from -74.05% to +99.72% annualized depending on the exchange — Bitunix is lowest and Bybit is highest right now. There is no single FWDI 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 FWDI funding rate across exchanges?

Accepted Answer

Aggregated across the 11 venues ORBIT tracks, FWDI funding currently spans -74.05% to +99.72% APR, a spread of 173.8 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 FWDI 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle FWDI 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↕
BybitBest Short	+99.72%	8h	$210K	$7.862
OKX	+0.00%	8h	$317K	$7.901
HTX	+0.00%	8h	$6K	$7.8965
Variational	+0.00%	8h	$100K	$7.8931
Toobit	+0.00%	8h	$107K	$7.887
LBank	+0.00%	8h	—	$7.897
QFEX	+0.00%	1h	$558K	$7.895
Hotcoin	-1.06%	8h	$98K	$7.893
WEEX	-10.46%	8h	$1K	$7.896
Bitget	-18.85%	8h	$372K	$7.892
BitunixBest Long	-74.05%	8h	—	$7.893

FWDI Perpetual Swap Funding Rate by Exchange

How FWDI funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

FWDI funding rates explained

Frequently asked questions