Compare real-time funding rates across 27 cryptocurrency exchanges. Find the best long/short spread pairs between Hyperliquid, Binance, Bybit, OKX, dYdX, Paradex, Backpack, EdgeX, Bitget, MEXC, Gate, ApeX, WOOFi Pro and more. Updated every 5 minutes. Track historical stability, open interest and volume for each pair.
You go long on one exchange and short on another for the same asset. The position is market-neutral, so price moves cancel out. Profit comes from the two exchanges quoting different funding rates: one side pays you more than the other costs, and the spread drips in every hour.
Perps have no expiration date. Funding is the mechanism that keeps their price tied to spot. If the perp trades above spot, longs pay shorts. If below, shorts pay longs. That pressure pulls the perp price back toward fair value. The rate is set automatically by the exchange based on perp premium and a baseline interest rate.
Four main tabs: Reliable (pairs that have been green for a long stretch), Risky (same pairs sorted by APR), All Opportunities (full table of every asset and rate), Backtest (replay the last 7/30/90 days on any pair). The exchange filter at the top hides venues you do not use. Every card and row opens a modal with the full spread chart.
No universal answer. DEXes like Hyperliquid, Paradex, Lighter, Extended and Backpack tend to have fatter funding because their liquidity is thinner. CEXes like Binance, Bybit, OKX and Bitget offer calmer rates but deep liquidity and fast fills. The classic move is long on a DEX (rate negative or low), short on a CEX (rate positive). Have accounts on at least 3-4 venues.
Do not just stare at APR. Check Alive Hours (how long the pair has stayed green) and Score (a composite of APR, stability, volume, and open interest). Score 80+ is gold, 40-60 is fine with a watch, below 40 is risky. Volatile and Spike flags warn you the number might not last. Before entering, look at the spread chart in the detail modal.
Liquidation if the price wicks against one of your legs. Funding reversals, where a positive spread flips negative and you start paying instead of collecting. Exchange downtime, frozen withdrawals, or a DEX upgrading while you cannot touch your position. Entry and exit fees eating profit on weak pairs. Keep spare margin on both sides and never park everything on one venue.
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