Funding Rate Arbitrage Scanner: Compare Rates and Costs

TL;DR — Live Scanner and the Decision It Supports

A fundingPeriodic payments between buyers and sellers of perpetual futures. Buyers pay when the rate is positive; sellers pay when it is negative. This mechanism keeps the contract price closer to the underlying asset price. rate arbitrage scanner compares perpetual funding across exchanges. Yieldo finds a long leg with a lower hourly rate and a short leg with a higher hourly rate. The table below shows the annualized funding difference before execution costs. Use it to choose a pair to investigate; use the funding-arbitrage hub and calculator to examine the holding period and trading fees.

A displayed annual rate assumes the present rates persist. It does not establish a year's return, sufficient order-book depth, or a profit after every expense. The cost calculation described below separates those questions.

Funding Arbitrage Tools: What to Compare

Yieldo — Current Rates, Exchange Comparisons and Cost Examples

Yieldo combines current funding, BTC rates, ETH rates and cross-exchange opportunities. The embedded table shows gross annualized funding differences. The hub estimates opening and closing trading fees over 30 days. In the separate calculator you can choose the holding period and add supported collateral-withdrawal costs. SlippageThe difference between the price shown before confirmation and the execution price. Settings usually specify the maximum allowed deviation; the swap fails if it is exceeded., ongoing rebalancing and actual future payments require a separate estimate.

CoinGlass — Broad Derivatives Context

CoinGlass Arbitrage List is another place to compare funding opportunities. Check what each column includes before treating a rate as income after expenses. Coverage, historical access and the available calculations can change.

Coinalyze — Funding Charts and Historical Data

Coinalyze provides funding charts, while its API documentation distinguishes current, predicted and historical data. A chart is useful for studying how a rate changes; comparing two positions still requires their intervals, fees and notional sizes.

HumArb — Execution Costs and Break-Even

HumArb publishes a funding-arbitrage calculation with costs for opening and closing both legs, plus a break-even estimate. Read its trade size and assumptions when comparing the result with another tool.

SwoleCharts — Holding-Period Calculator

SwoleCharts also provides a funding-arbitrage calculator with trading costs and historical-rate context. Net calculations are available from more than one provider; the useful comparison is what they include and whether you can reproduce the result.

This is a comparison of tasks, not a performance ranking. No tool can know your eventual fill prices, future funding rates and withdrawal conditions in advance.

What Funding Rate Arbitrage Is

The Delta-Neutral Setup

In a perpetual-versus-perpetual setup, you buy one contract and sell another representing the same underlying asset with equal notionals. When positive funding is charged, the short receives it and the long pays it. A lower funding cost on the long than the income on the short creates a funding difference. Negative rates reverse who pays whom. Equal positions reduce price exposure, but differences in contract design, basis and liquidation rules remain.

Where the Income Comes From

Funding is paid between the two sides of a perpetual market. It is not staking income or a fixed exchange reward. A spot-versus-perpetual trade has only one funding leg and needs a different calculation. See the funding guide and funding-arbitrage guide before choosing a structure.

How to Calculate the Funding Difference and Costs

Step 1 — Use the Rate and Interval of Each Leg

Let r_short and r_long be signed funding rates as fractions, and h_short and h_long their intervals in hours. A displayed 0.01% is 0.0001 in this formula. Confirm the contract and interval on both exchanges; a raw 1-hour rate cannot be directly compared with an 8-hour rate.

Step 2 — Annualize Each Leg Separately

gross_simple_APR_percent = 100 × 8 760 × (r_short / h_short − r_long / h_long)

For equal notionals, this is the annual funding difference relative to the notional of one leg, before expenses. It assumes constant rates for 365 days and does not compound payments. Do not divide the raw spread by the average of the two intervals. Return on the capital you actually commit is a separate calculation.

Step 3 — Include Opening and Closing Trading Fees

Two perpetual positions require four fills: open long, open short, close long and close short. For equal notional N and assumed takerA trader whose order executes against an existing order from another participant. This removes liquidity from the order book; the exchange applies its taker fee to that execution. fee fractions f_long and f_short, the unchanged-notional estimate is trading_cost = N × 2 × (f_long + f_short). Use your account tier and intended order types; closing notionals and fill prices can differ from the initial assumptions.

Step 4 — Add Transfers, Slippage and Any Rebalancing

Collateral withdrawal, a bridge, gas, slippage and margin rebalancing can add costs. Yieldo's fee estimate covers the items named in the particular calculator result, not every possible future expense. The withdrawal-fee tables help select a compatible transfer; ongoing rebalance and slippage are not automatically modeled by the funding scanner.

Step 5 — Calculate Dollars for the Holding Period

gross_funding = N × (r_short / h_short − r_long / h_long) × holding_hours
estimated_result = gross_funding − trading_cost − separately_estimated_other_costs
return_on_committed_capital = estimated_result / total_committed_capital

The continuous-rate expression is an estimate. Actual payments occur at settlement times and use the rate and position then applicable. Count the scheduled payments for a short trade; do not assume a full interval's income immediately after entry.

Worked Example — Equal Notional, Different Intervals

Suppose each leg has a $1 000 notional: short funding is +0.01% every hour and long funding is +0.01% every eight hours. If both rates stay fixed, the difference is $2.10 per day, $63 over 30 days and 76.65% gross simple APR on one leg's notional.

Assume a 0.05% trading fee for each of the four unchanged-notional fills. Trading costs are $2, leaving $61 over 30 days after those trading fees only. With $2 000 of total committed capital, that is 3.05% for the period, before transfers, slippage and other expenses. The average-flow break-even is about 0.95 days; actual settlement timing can move it. These are hypothetical inputs, not current Bybit or OKX rates or a promised outcome.

How to Use the Funding Arbitrage Scanner

Step 1 — Choose a Pair from the Current Table

Open the live hub. Read the coin, long exchange, short exchange, intervals and annualized funding difference. The embedded article table does not offer a separate Net APR column or sorting by Net APR.

Step 2 — Check Contract and Collateral Compatibility

Confirm that both contracts represent the intended asset and that you can fund and withdraw from both accounts. Choose a supported collateral network; a cheap withdrawal to an incompatible destination is not a usable route.

Step 3 — Check Depth on Entry and Exit

Estimate the fill price for your size on both order books. A funding difference can be smaller than the cost of crossing the spread. Check likely closing costs as well as opening costs.

Step 4 — Match Position Sizes

Equal dollar notionals are the starting point, not necessarily equal quantities for every contract type. Check contract multipliers, settlement assets and the size of any unhedged remainder. Confirm both fills rather than assuming two submitted orders became two completed positions.

Step 5 — Monitor Rates and Margin

Review the next settlement, rate changes and margin on each account. Closing, adding collateral or transferring it are separate decisions with costs. The funding indicator guide explains why a changing rate needs context.

Exchange Pairs to Compare

There is no permanently best pair. Start with the coin and contracts you can trade, then compare rates, funding intervals, depth, fees and access. The examples below are comparison routes, not recommendations or a yield ranking.

Bybit and OKX

The Bybit–OKX comparison and the Bybit and OKX funding pages let you examine the same coin on two venues. Recheck each contract's settlement interval and your account fees.

Bybit and Hyperliquid

Hyperliquid pays funding hourly according to its official funding documentation. Compare the hourly rate with the other contract's actual interval, and account for the cost of supplying compatible collateral.

Bitget and MEXC

Use the Bitget funding page and the current comparison table to check availability of the intended contracts. Altcoin coverage does not establish sufficient depth or profit.

OKX and Gate

Compare the OKX and Gate rates for the same asset. An identical ticker does not by itself prove identical contracts or transferable collateral.

KuCoin and Bybit

Confirm the interval of the selected KuCoin contract rather than assigning a 30-minute interval to the exchange as a whole. Funding schedules and caps are contract-specific and can change.

Common Scanner Pitfalls

Gross and Net Answer Different Questions

Gross funding shows the difference before costs. A fee-adjusted estimate applies specified expenses and a holding period. Read those assumptions before comparing values from different tools.

Rate Reversal

The short's income can fall or become a payment, while the long's cost can increase. Longer holding reduces the relative effect of one-time fees but also increases exposure to changing rates.

Thin Liquidity

Calculate fills for the intended size. The largest annualized difference can come from a small, hard-to-exit market; it does not automatically deserve the largest position.

Withdrawal Restrictions

A position may be closable while the collateral cannot be withdrawn. Check account restrictions and transfer routes separately from the ability to place an order.

Interval Mismatch

+0.01% per hour and +0.01% per eight hours are different payment schedules. Normalize both legs before choosing their direction; do not use a global interval for all exchanges.

Risk Management for Funding Arbitrage

Position Size and Leverage

Choose a size that can be funded and unwound on both venues. Leverage reduces posted collateral but does not remove exposure to liquidation; quote income on notional separately from return on total capital.

Margin on Each Leg

Profit on one exchange does not automatically support the losing leg on another. Leave room for price movement and know how to add collateral if a transfer is unavailable.

When to Close

Recalculate the expected remaining payments and closing costs when the rate changes. The rate at entry is not a reason to keep a position whose forward cost has become unfavorable.

Exchange and Contract Risk

Review the platform's access rules and settlement terms. A price hedge does not protect against a frozen account, an exchange failure or a contract settling differently from its hedge. The arbitrage guide covers the broader mechanics.

Reproducibility and Methodology

Yieldo compares signed rates using each leg's interval. Its configured trading-fee estimate accounts for opening and closing both positions; the calculator names additional costs when supported. To check a result, keep the coin, contracts, rates, intervals, notionals, holding period and fee assumptions together. Current rates are available on the funding hub; data and download conditions are on About the data.

For payment history, use the exchange's settlement records: Binance funding history and Bybit funding history. A currently displayed rate can change before settlement.

Frequently Asked Questions

What is a funding rate arbitrage scanner?

It compares funding across perpetual markets to identify a lower-cost long leg and a higher-income short leg. A useful comparison includes each rate's interval, contracts and costs for the intended holding period.

How is a fee-adjusted estimate different from gross funding?

Gross funding is the difference before expenses. Yieldo's trading-fee estimate deducts the opening and closing costs of both positions; supported collateral-withdrawal costs can be added in the calculator. Slippage and ongoing rebalancing require a separate estimate.

What is the minimum capital for funding arbitrage?

There is no universal minimum that guarantees profit. Contract minimums, fees, margin, available depth and the duration of the funding difference determine whether a particular size is practical.

Can funding rate arbitrage be profitable?

It can produce a positive result when received funding exceeds paid funding and all expenses. Current annualized rates are estimates under constant-rate assumptions, not evidence of a future profit.

Which exchange pair currently offers the best funding yield?

The answer depends on the coin, funding intervals, costs and size. Compare the current table and recalculate for your holding period; a high gross rate alone does not establish the best net result.

Can I run funding arbitrage without KYC?

Account verification and eligibility depend on the platform and your jurisdiction. Check both platforms' current terms before depositing; a wallet connection alone does not establish unrestricted access.

What are the biggest risks of funding arbitrage?

Rate reversal, liquidation of one leg, thin exit liquidity, incompatible contracts, transfer restrictions and exchange failure can all turn an apparent funding difference into a loss.

How often does the Yieldo scanner update?

The funding collection is scheduled approximately every ten minutes. Check the time shown with the current data; an update schedule does not guarantee that every venue returned a fresh rate.

Which Tool to Use

Use the funding-arbitrage hub to compare current pairs and the calculator to examine costs for a particular period. Use charts and exchange history to study whether the rate persists. Choose a tool by its coverage and stated assumptions, not by an unsupported claim that only one provider calculates net returns.