Question 1

Which exchange has the highest PI funding rate right now?

Accepted Answer

Hotcoin shows the highest PI funding at +12.05% annualized. A high positive rate means shorts get paid, so this is the venue to short PI 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 PI for funding?

Accepted Answer

LBank has the lowest PI funding at +10.96% 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 PI funding-arbitrage pair?

Accepted Answer

The widest spread is long OKX / short Hotcoin at about 1.1% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does PI funding settle?

Accepted Answer

PI funding settles every 4h. 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 PI funding positive or negative?

Accepted Answer

PI funding is currently positive across venues (longs pay shorts), ranging +10.96% to +12.05% APR.

Question 6

What is the current PI perpetual swap funding rate?

Accepted Answer

The current PI perpetual swap funding rate ranges from +10.96% to +12.05% annualized depending on the exchange — LBank is lowest and Hotcoin is highest right now. There is no single PI 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 PI funding rate across exchanges?

Accepted Answer

Aggregated across the 12 venues ORBIT tracks, PI funding currently spans +10.96% to +12.05% APR, a spread of 1.1 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 PI 8h funding rate versus the annualized rate?

Accepted Answer

PI does not settle on an 8-hour schedule on the venues tracked here. Because intervals differ by exchange, comparing raw per-payment rates is misleading; ORBIT normalizes each venue to annualized APR so the numbers are directly comparable.

Exchange	Funding APR↓	Interval	Open Interest↕	Mark Price↕
HotcoinBest Short	+12.05%	4h	$176K	$0.0899
OKXBest Long	+10.96%	4h	$2.5M	$0.0899
BingX	+10.96%	4h	$992K	$0.0899
Bitget	+10.96%	4h	$5.3M	$0.0899
Gate.io	+10.96%	4h	$1.3M	$0.0901
MEXC	+10.96%	4h	$10.5M	$0.09
Toobit	+10.96%	4h	$220K	$0.0899
Bitunix	+10.96%	4h	—	$0.0899
WEEX	+10.96%	4h	—	$0.0901
Pionex	+10.96%	4h	$209K	$0.09
CoinW	+10.96%	4h	—	$0.0899
LBank	+10.96%	4h	—	$0.0899

PI Perpetual Swap Funding Rate by Exchange

How PI funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

PI funding rates explained

Frequently asked questions