Question 1

Which exchange has the highest PATH funding rate right now?

Accepted Answer

TxFlow shows the highest PATH funding at +10.96% annualized. A high positive rate means shorts get paid, so this is the venue to short PATH 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 PATH for funding?

Accepted Answer

Phemex has the lowest PATH funding at +0.00% 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 PATH funding-arbitrage pair?

Accepted Answer

The widest spread is long Bybit / short TxFlow at about 11.0% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does PATH funding settle?

Accepted Answer

PATH 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 PATH funding positive or negative?

Accepted Answer

PATH funding is mixed across venues, ranging +0.00% to +10.96% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current PATH perpetual swap funding rate?

Accepted Answer

The current PATH perpetual swap funding rate ranges from +0.00% to +10.96% annualized depending on the exchange — Phemex is lowest and TxFlow is highest right now. There is no single PATH 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 PATH funding rate across exchanges?

Accepted Answer

Aggregated across the 12 venues ORBIT tracks, PATH funding currently spans +0.00% to +10.96% APR, a spread of 11.0 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 PATH 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle PATH 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↕
TxFlowBest Short	+10.96%	1h	$2K	$12.99
WEEX	+4.55%	8h	$0K	$13.01
Hotcoin	+2.52%	8h	—	$13.03
Bitunix	+2.09%	8h	—	$13.02
BloFin	+1.63%	8h	$29K	$13.01
BybitBest Long	+0.00%	8h	$29K	$13
Bitget	+0.00%	8h	$63K	$13.012
Gate.io	+0.00%	8h	$3K	$13.008
HTX	+0.00%	8h	$2K	$12.985
Toobit	+0.00%	8h	$32K	$13.01
LBank	+0.00%	8h	—	$13.01
Phemex	+0.00%	8h	$79K	$13.02

PATH Perpetual Swap Funding Rate by Exchange

How PATH funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

PATH funding rates explained

Frequently asked questions