Question 1

Which exchange has the highest PDD funding rate right now?

Accepted Answer

LBank shows the highest PDD funding at +45.75% annualized. A high positive rate means shorts get paid, so this is the venue to short PDD 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 PDD for funding?

Accepted Answer

Toobit has the lowest PDD 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 PDD funding-arbitrage pair?

Accepted Answer

The widest spread is long Bybit / short LBank at about 45.8% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does PDD funding settle?

Accepted Answer

PDD funding settles every 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 PDD funding positive or negative?

Accepted Answer

PDD funding is mixed across venues, ranging +0.00% to +45.75% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current PDD perpetual swap funding rate?

Accepted Answer

The current PDD perpetual swap funding rate ranges from +0.00% to +45.75% annualized depending on the exchange — Toobit is lowest and LBank is highest right now. There is no single PDD 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 PDD funding rate across exchanges?

Accepted Answer

Aggregated across the 11 venues ORBIT tracks, PDD funding currently spans +0.00% to +45.75% APR, a spread of 45.8 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 PDD 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle PDD 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↕
LBankBest Short	+45.75%	8h	—	$78.22
CoinW	+39.47%	8h	—	$78.85
Hotcoin	+37.91%	8h	—	$78.19
HTX	+10.96%	8h	$8K	$78.08
WEEX	+10.55%	8h	$71K	$78.32
Bitunix	+7.97%	8h	—	$78.13
BybitBest Long	+0.00%	8h	$306K	$78.07
Bitget	+0.00%	8h	$1.3M	$78.18
Gate.io	+0.00%	8h	$376K	$78.06
KuCoin	+0.00%	8h	$34K	$77.96
Toobit	+0.00%	8h	$24K	$78.26

PDD Perpetual Swap Funding Rate by Exchange

How PDD funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

PDD funding rates explained

Frequently asked questions