Question 1

Which exchange has the highest TER funding rate right now?

Accepted Answer

Crypto.com shows the highest TER funding at +167.74% annualized. A high positive rate means shorts get paid, so this is the venue to short TER 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 TER for funding?

Accepted Answer

Paragon has the lowest TER funding at -218.93% 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 TER funding-arbitrage pair?

Accepted Answer

The widest spread is long Paragon / short Crypto.com at about 386.7% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does TER funding settle?

Accepted Answer

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

Accepted Answer

TER funding is mixed across venues, ranging -218.93% to +167.74% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current TER perpetual swap funding rate?

Accepted Answer

The current TER perpetual swap funding rate ranges from -218.93% to +167.74% annualized depending on the exchange — Paragon is lowest and Crypto.com is highest right now. There is no single TER 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 TER funding rate across exchanges?

Accepted Answer

Aggregated across the 15 venues ORBIT tracks, TER funding currently spans -218.93% to +167.74% APR, a spread of 386.7 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 TER 8h funding rate versus the annualized rate?

Accepted Answer

Venues that settle TER 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↕
Crypto.comBest Short	+167.74%	1h	$0K	$409.45
Bitget	+18.30%	8h	$219K	$408.52
HTX	+10.96%	8h	$3K	$409.455
Hotcoin	+10.96%	8h	$112K	$409.53
Bitunix	+0.38%	8h	—	$408.52
Bybit	+0.00%	8h	$324K	$409.1
OKX	+0.00%	8h	$200K	$409.36
Gate.io	+0.00%	8h	$138K	$408.7
KuCoin	+0.00%	8h	$240K	$409.44
MEXC	+0.00%	8h	$811K	$408.46
Variational	+0.00%	8h	$43K	$409.3535
Toobit	+0.00%	8h	$91K	$407.15
LBank	+0.00%	8h	—	$409.31
WEEX	-7.36%	8h	$0K	$409.62
ParagonBest Long	-218.93%	1h	$67K	$407.93

TER Perpetual Swap Funding Rate by Exchange

How TER funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

TER funding rates explained

Frequently asked questions