Question 1

Which exchange has the highest TBT funding rate right now?

Accepted Answer

Bybit shows the highest TBT funding at +0.00% annualized. A high positive rate means shorts get paid, so this is the venue to short TBT 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 TBT for funding?

Accepted Answer

Bitget has the lowest TBT funding at -186.83% 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 TBT funding-arbitrage pair?

Accepted Answer

The widest spread is long Bitget / short Bybit at about 186.8% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does TBT funding settle?

Accepted Answer

TBT 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 TBT funding positive or negative?

Accepted Answer

TBT funding is mixed across venues, ranging -186.83% to +0.00% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current TBT perpetual swap funding rate?

Accepted Answer

The current TBT perpetual swap funding rate ranges from -186.83% to +0.00% annualized depending on the exchange — Bitget is lowest and Bybit is highest right now. There is no single TBT 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 TBT funding rate across exchanges?

Accepted Answer

Aggregated across the 11 venues ORBIT tracks, TBT funding currently spans -186.83% to +0.00% APR, a spread of 186.8 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 TBT 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle TBT 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↕
BybitBest Short	+0.00%	8h	$113K	$42.44
Gate.io	+0.00%	8h	$50K	$42.58
HTX	+0.00%	8h	$5K	$42.445
Toobit	-32.08%	8h	$37K	$42.59
Bitunix	-32.73%	8h	—	$42.49
WEEX	-34.24%	8h	$1K	$42.55
CoinW	-35.22%	8h	—	$41.94
Hotcoin	-35.81%	8h	$56K	$42.54
LBank	-36.49%	8h	—	$42.54
MEXC	-37.91%	8h	$283K	$42.58
BitgetBest Long	-186.83%	8h	$32K	$42.617

TBT Perpetual Swap Funding Rate by Exchange

How TBT funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

TBT funding rates explained

Frequently asked questions