Question 1

Which exchange has the highest NMR funding rate right now?

Accepted Answer

Lighter shows the highest NMR funding at +10.52% annualized. A high positive rate means shorts get paid, so this is the venue to short NMR 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 NMR for funding?

Accepted Answer

OKX has the lowest NMR funding at -95.69% 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 NMR funding-arbitrage pair?

Accepted Answer

The widest spread is long OKX / short Lighter at about 106.2% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does NMR funding settle?

Accepted Answer

NMR 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 NMR funding positive or negative?

Accepted Answer

NMR funding is mixed across venues, ranging -95.69% to +10.52% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current NMR perpetual swap funding rate?

Accepted Answer

The current NMR perpetual swap funding rate ranges from -95.69% to +10.52% annualized depending on the exchange — OKX is lowest and Lighter is highest right now. There is no single NMR 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 NMR funding rate across exchanges?

Accepted Answer

Aggregated across the 16 venues ORBIT tracks, NMR funding currently spans -95.69% to +10.52% APR, a spread of 106.2 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 NMR 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle NMR 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↕
LighterBest Short	+10.52%	1h	$65K	$11.1737
Bitget	+2.19%	4h	$1.9M	$11.098
Bybit	-33.94%	4h	$2.9M	$11.212
KuCoin	-43.39%	4h	$961K	$11.174
Variational	-50.12%	4h	$18K	$11.1941
Pionex	-52.57%	4h	$36K	$11.112
Binance Futures	-59.87%	4h	$6.7M	$11.1723
Toobit	-59.87%	4h	$4.3M	$11.104
MEXC	-60.27%	4h	$2.4M	$11.183
WEEX	-60.47%	4h	$5.4M	$11.199
CoinW	-60.47%	4h	—	$11.188
Hotcoin	-62.45%	4h	$474K	$11.096
Bitunix	-74.40%	4h	—	$11.108
Gate.io	-78.89%	8h	$351K	$11.11
BingX	-90.95%	4h	$2.7M	$11.114
OKXBest Long	-95.69%	4h	$1.0M	$11.169

NMR Perpetual Swap Funding Rate by Exchange

How NMR funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

NMR funding rates explained

Frequently asked questions