Question 1

Which exchange has the highest SPELL funding rate right now?

Accepted Answer

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

Accepted Answer

Pionex has the lowest SPELL 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 SPELL funding-arbitrage pair?

Accepted Answer

The widest spread is long Binance Futures / short Binance Futures at about 0.0% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does SPELL funding settle?

Accepted Answer

SPELL 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 SPELL funding positive or negative?

Accepted Answer

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

Question 6

What is the current SPELL perpetual swap funding rate?

Accepted Answer

The current SPELL perpetual swap funding rate ranges from +10.96% to +10.96% annualized depending on the exchange — Pionex is lowest and Binance Futures is highest right now. There is no single SPELL 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 SPELL funding rate across exchanges?

Accepted Answer

Aggregated across the 10 venues ORBIT tracks, SPELL funding currently spans +10.96% to +10.96% APR, a spread of 0.0 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 SPELL 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle SPELL 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↕
Binance FuturesBest LongBest Short	+10.96%	8h	$1.6M	$0.0001
Bitget	+10.96%	8h	$600K	$0.0001
Gate.io	+10.96%	8h	$17K	$0.0001
KuCoin	+10.96%	8h	$196K	$0.0001
MEXC	+10.96%	8h	$390K	$0.0001
Variational	+10.96%	8h	$1K	$0.0001
Toobit	+10.96%	8h	$379K	$0.0001
Bitunix	+10.96%	8h	—	$0.0001
WEEX	+10.96%	8h	$2.7M	$0.0001
Pionex	+10.96%	8h	$4K	$0.0001

SPELL Perpetual Swap Funding Rate by Exchange

How SPELL funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

SPELL funding rates explained

Frequently asked questions