Question 1

Which exchange has the highest SPX funding rate right now?

Accepted Answer

Lighter shows the highest SPX funding at +68.37% annualized. A high positive rate means shorts get paid, so this is the venue to short SPX 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 SPX for funding?

Accepted Answer

Crypto.com has the lowest SPX funding at -43.33% 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 SPX funding-arbitrage pair?

Accepted Answer

The widest spread is long Crypto.com / short Lighter at about 111.7% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does SPX funding settle?

Accepted Answer

SPX funding settles on different schedules by venue (1h, 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 SPX funding positive or negative?

Accepted Answer

SPX funding is mixed across venues, ranging -43.33% to +68.37% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current SPX perpetual swap funding rate?

Accepted Answer

The current SPX perpetual swap funding rate ranges from -43.33% to +68.37% annualized depending on the exchange — Crypto.com is lowest and Lighter is highest right now. There is no single SPX 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 SPX funding rate across exchanges?

Accepted Answer

Aggregated across the 25 venues ORBIT tracks, SPX funding currently spans -43.33% to +68.37% APR, a spread of 111.7 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 SPX 8h funding rate versus the annualized rate?

Accepted Answer

SPX 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↕
LighterBest Short	+68.37%	1h	$214K	$0.4374
BloFin	+37.26%	4h	$242K	$0.4363
Extended	+11.40%	1h	$21K	$0.4377
Binance Futures	+10.96%	4h	$4.4M	$0.4377
Bybit	+10.96%	4h	$11.2M	$0.4368
OKX	+10.96%	4h	$746K	$0.4373
Hyperliquid	+10.96%	1h	$3.8M	$0.4369
BingX	+10.96%	4h	$2.1M	$0.4376
Bitget	+10.96%	4h	$2.4M	$0.4379
Gate.io	+10.96%	4h	$439K	$0.4385
KuCoin	+10.96%	4h	$3.4M	$0.4379
MEXC	+10.96%	4h	$8.1M	$0.4377
Aster	+10.96%	4h	$106K	$0.4379
WOOFi Pro	+10.96%	4h	$13K	$0.4375
ApeX	+10.96%	1h	$19K	$0.4374
Toobit	+10.96%	4h	$513K	$0.4381
Bitunix	+10.96%	4h	—	$0.4379
WEEX	+10.96%	4h	—	$0.4377
Pionex	+10.96%	4h	$128K	$0.4378
CoinW	+10.96%	4h	—	$0.4378
LBank	+10.96%	4h	—	$0.4378
dreamcash	+10.96%	1h	$3.8M	$0.4369
Ventuals	+10.96%	1h	$3.8M	$0.4369
Variational	-3.68%	4h	$751K	$0.4368
Crypto.comBest Long	-43.33%	1h	$1K	$0.4364

SPX Perpetual Swap Funding Rate by Exchange

How SPX funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

SPX funding rates explained

Frequently asked questions