Funding

Funding rates normalized to APR across every exchange — the leverage magnet and arbitrage edge

Funding heatmap — coin × exchange

Funding rate annualized to APR% for each coin×exchange pair. POSITIVE (green) = longs pay shorts — crowd leans long, often near local tops; NEGATIVE (red) = shorts pay longs. A large funding gap for the same coin across two exchanges is an arbitrage opportunity. Read it WITH OI above: high funding + rising OI = leverage piling on one side.

Coin	Agg APR
BTC$41,6B	7,1%	7.6	6.2	5.3	10.9	0.3	-6.6	10.9	7.6	10.9	10.9	-410.6	22.0	52.5	8.7	8.6	2.0	4.2	1.8	10.9	49.1
ETH$26,5B	2,4%	2.0	1.6	-8.2	-2.5	-3.5	10.9	4.5	2.0	2.2	1.9	-76.9	23.9	47.2	6.5	0.7	0.0	2.5	-8.8	35.1	34.2
SOL$5,9B	4,3%	7.0	-3.5	-2.0	10.9	-1.3	10.9	2.6	7.0	10.9	10.9	-603.8	46.5	14.7	15.2	2.2	-0.5	4.0	-42.0	1.8	82.3
HYPE$3,2B	4,4%	-6.8	0.0	-7.9	-2.0	-9.9	5.5	10.9	-6.6	10.9	-0.2	-821.3	25.2	34.9	90.0	4.5	0.0	-7.0	10.5	10.9	53.4
ZEC$2,6B	6,1%	4.7	5.0	-3.6	10.9	1.8	10.9	1.3	4.5	10.9	10.9	180.7	-10.8	52.5	·	-0.1	25.3	2.9	10.5	10.9	92.9

Positive: longs pay shortsNegative: shorts pay longs

Highest funding — longs paying

OI-weighted APR. Tiny coins showing 1000s of % come from 1h cycles annualized — check the OI column first

Coin	Agg APR	OI	Highest on
MOG	+817,0%	$44,8M	kraken +4.380,0%
BONK	+578,3%	$76,0M	coinbase +610,6%
NG	+555,1%	$6,6M	okx +584,3%
PEPE	+495,6%	$585,1M	coinbase +867,2%
SHIB	+461,2%	$107,6M	coinbase +761,2%
GPRO	+230,5%	$6,9M	cryptocom +1.546,6%
CXMT	+197,6%	$9,4M	okx +263,4%
US	+116,8%	$54,8M	aster +228,3%
SNXX	+108,7%	$28,7M	bybit +165,7%
AIN	+88,4%	$23,3M	mexc +110,8%

Deepest negative funding — shorts paying

The crowd is short this coin

Coin	Agg APR	OI	Lowest on
CTSI	-788,6%	$9,2M	kraken -979,8%
SKL	-641,4%	$9,7M	gate -932,7%
ERA	-316,7%	$7,7M	coinbase -1.285,1%
MINA	-223,9%	$34,4M	cryptocom -481,2%
SAND	-189,5%	$73,2M	cryptocom -355,3%
LUNC	-178,4%	$11,2M	cryptocom -283,9%
1000BTT	-172,4%	$8,4M	bybit -174,2%
OGN	-159,0%	$42,7M	bitget -200,2%
ORCA	-148,7%	$29,1M	bybit -237,5%
CVC	-95,8%	$6,4M	bybit -419,5%

Funding arbitrage — where to buy, where to sell

The funding gap between two exchanges is the profit from a delta-neutral pair: open LONG on the LOW-funding exchange (green) + open SHORT on the HIGH-funding exchange (red), collecting the 'edge APR' per year. Raw screening table — trading fees, withdrawal fees and basis risk not included; not a recommendation.

Coin	Edge APR / year	Open LONG on (low funding)	Open SHORT on (high funding)	OI
PEPE	+891,7%	mexc-24,4% · 8h	coinbase+867,2% · 1h	$585,1M
SHIB	+750,3%	bitget+11,0% · 8h	coinbase+761,2% · 1h	$107,6M
BTC	+463,2%	coinex-410,6% · 8h	bitfinex+52,6% · 8h	$41,6B
BZ	+368,3%	okx-185,8% · 4h	whitebit+182,5% · 4h	$159,8M
ETH	+124,0%	coinex-76,9% · 8h	bitfinex+47,2% · 8h	$26,5B
龙虾	+111,8%	binance-100,9% · 4h	bitget+11,0% · 4h	$40,4M
1000PEPE	+35,4%	binance-24,5% · 8h	bingx+11,0% · 8h	$137,4M
PUMPFUN	+10,3%	mexc+0,7% · 4h	bybit+11,0% · 4h	$96,7M
BTCDOM	0,0%	binance+11,0% · 8h	binance+11,0% · 8h	$15,4M
ZBCN	0,0%	mexc+11,0% · 8h	mexc+11,0% · 8h	$10,8M

BTC funding APR — 7 days

Which side OI is piling leverage — read with funding

BTC ETH SOL

-2,2%+1,4%+5,1%+8,7%2/10 07:002/10 22:053/10 13:104/10 04:164/10 19:215/10 10:276/10 01:326/10 16:387/10 07:437/10 22:498/10 13:549/10 05:00

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Funding heatmap — coin × exchange

Coin

Agg APR

BTC$41,6B

7,1%

7.6

6.2

5.3

10.9

0.3

-6.6

10.9

7.6

10.9

-410.6

22.0

52.5

8.7

8.6

2.0

4.2

1.8

10.9

49.1

ETH$26,5B

2,4%

2.0

1.6

-8.2

-2.5

-3.5

10.9

4.5

2.0

2.2

1.9

-76.9

23.9

47.2

6.5

0.7

0.0

2.5

-8.8

35.1

34.2

SOL$5,9B

4,3%

7.0

-3.5

-2.0

10.9

-1.3

10.9

2.6

7.0

10.9

-603.8

46.5

14.7

15.2

2.2

-0.5

4.0

-42.0

1.8

82.3

HYPE$3,2B

4,4%

-6.8

0.0

-7.9

-2.0

-9.9

5.5

10.9

-6.6

10.9

-0.2

-821.3

25.2

34.9

90.0

4.5

0.0

-7.0

10.5

10.9

53.4

ZEC$2,6B

6,1%

4.7

5.0

-3.6

10.9

1.8

10.9

1.3

4.5

10.9

180.7

-10.8

52.5

-0.1

25.3

2.9

10.5

10.9

92.9

Coin

Agg APR

Highest on

MOG

+817,0%

$44,8M

kraken +4.380,0%

BONK

+578,3%

$76,0M

coinbase +610,6%

+555,1%

$6,6M

okx +584,3%

PEPE

+495,6%

$585,1M

coinbase +867,2%

SHIB

+461,2%

$107,6M

coinbase +761,2%

GPRO

+230,5%

$6,9M

cryptocom +1.546,6%

CXMT

+197,6%

$9,4M

okx +263,4%

+116,8%

$54,8M

aster +228,3%

SNXX

+108,7%

$28,7M

bybit +165,7%

AIN

+88,4%

$23,3M

mexc +110,8%

Coin

Agg APR

Lowest on

CTSI

-788,6%

$9,2M

kraken -979,8%

SKL

-641,4%

$9,7M

gate -932,7%

ERA

-316,7%

$7,7M

coinbase -1.285,1%

MINA

-223,9%

$34,4M

cryptocom -481,2%

SAND

-189,5%

$73,2M

cryptocom -355,3%

LUNC

-178,4%

$11,2M

cryptocom -283,9%

1000BTT

-172,4%

$8,4M

bybit -174,2%

OGN

-159,0%

$42,7M

bitget -200,2%

ORCA

-148,7%

$29,1M

bybit -237,5%

CVC

-95,8%

$6,4M

bybit -419,5%

Funding arbitrage — where to buy, where to sell

Coin

Edge APR / year

Open LONG on (low funding)

Open SHORT on (high funding)

PEPE

+891,7%

mexc-24,4% · 8h

coinbase+867,2% · 1h

$585,1M

SHIB

+750,3%

bitget+11,0% · 8h

coinbase+761,2% · 1h

$107,6M

BTC

+463,2%

coinex-410,6% · 8h

bitfinex+52,6% · 8h

$41,6B

+368,3%

okx-185,8% · 4h

whitebit+182,5% · 4h

$159,8M

ETH

+124,0%

coinex-76,9% · 8h

bitfinex+47,2% · 8h

$26,5B

龙虾

+111,8%

binance-100,9% · 4h

bitget+11,0% · 4h

$40,4M

1000PEPE

+35,4%

binance-24,5% · 8h

bingx+11,0% · 8h

$137,4M

PUMPFUN

+10,3%

mexc+0,7% · 4h

bybit+11,0% · 4h

$96,7M

BTCDOM

0,0%

binance+11,0% · 8h

$15,4M

ZBCN

0,0%

mexc+11,0% · 8h

$10,8M