Question 1

Which exchange has the highest GMT funding rate right now?

Accepted Answer

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

Accepted Answer

KuCoin has the lowest GMT funding at -1.97% 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 GMT funding-arbitrage pair?

Accepted Answer

The widest spread is long KuCoin / short Hotcoin at about 23.9% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does GMT funding settle?

Accepted Answer

GMT 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 GMT funding positive or negative?

Accepted Answer

GMT funding is mixed across venues, ranging -1.97% to +21.92% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current GMT perpetual swap funding rate?

Accepted Answer

The current GMT perpetual swap funding rate ranges from -1.97% to +21.92% annualized depending on the exchange — KuCoin is lowest and Hotcoin is highest right now. There is no single GMT 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 GMT funding rate across exchanges?

Accepted Answer

Aggregated across the 19 venues ORBIT tracks, GMT funding currently spans -1.97% to +21.92% APR, a spread of 23.9 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 GMT 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle GMT 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	$192K	$0.0087
Binance Futures	+10.96%	4h	$2.7M	$0.0087
Bybit	+10.96%	8h	$1.1M	$0.0087
OKX	+10.96%	4h	$305K	$0.0087
Hyperliquid	+10.96%	1h	$63K	$0.0087
BingX	+10.96%	4h	$1.1M	$0.0087
Bitget	+10.96%	4h	$696K	$0.0087
MEXC	+10.96%	4h	$436K	$0.0087
Aster	+10.96%	4h	$12K	$0.0087
Variational	+10.96%	8h	$4K	$0.0087
Toobit	+10.96%	4h	$144K	$0.0087
Bitunix	+10.96%	4h	—	$0.0087
WEEX	+10.96%	4h	—	$0.0087
Pionex	+10.96%	4h	$22K	$0.0087
LBank	+10.96%	4h	—	$0.0087
dreamcash	+10.96%	1h	$63K	$0.0087
Ventuals	+10.96%	1h	$63K	$0.0087
Gate.io	+8.33%	8h	$65K	$0.0087
KuCoinBest Long	-1.97%	4h	$241K	$0.0087

GMT Perpetual Swap Funding Rate by Exchange

How GMT funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

GMT funding rates explained

Frequently asked questions