The radar's exchanges
The radar listens to 4,714 pairs on 8 exchanges. Sniping needs an account where it burns; hedged pairs need at least two. Accounts are free — opening ahead is cheaper than watching an event pass you by.
The radar's 8 exchanges
Perps, settlement intervals, and what each venue is good for when you work the rate.
- Binance756 perps · 1h–8h
Maximum liquidity — minimal slippage on snipe entry/exit
no referral link - Bybit822 perps · 1h–8h
The most extremes in the radar; clear interface, low entry barrier
no referral link - OKX528 perps · 1h–8h
Often lags Bybit/Bitget on the rate — the second leg of hedged pairs
no referral link - Bitget884 perps · 1h–8h
Lots of small coins with wild rates; a frequent source of radar events
no referral link - Hyperliquid179 perps · 1h
On-chain, no KYC; hourly funding — 8 settlements where others have one
no referral link - Gate593 perps · 1h–8h
A long tail of small altcoins; in our data the rate regularly hits its 2% cap
no referral link - Aster434 perps · 1h–8h
A perp DEX: wallet sign-in, a Binance-style API; some pairs settle every hour
no referral link - Bitunix518 perps · 1h–8h
Plenty of small altcoins, most pairs on a 4-hour settlement; the exchange does not publish open interest
no referral link
Rates by exchange right now
10 coins listed on at least two venues: you can see how different exchanges price the same coin and where the gap is widest. Colour is who gets paid, saturation is how strongly.
- INITSpread 0.19
- BTWSpread 0.10
- ZHONGJISpread 0.062
- XCNSpread 0.050
- SOPHSpread 0.046
- UPSpread 0.034
- SKHYNIXSpread 0.032
- CYBERSpread 0.032
- CSOPSKHYNIX2LSpread 0.029
- PONSSpread 0.028
| Coin | Binance | Bybit | OKX | Bitget | Hyperliquid | Gate | Aster | Bitunix | Spread |
|---|---|---|---|---|---|---|---|---|---|
| INIT | -0.07 | -0.24 | -0.11 | -0.12 | -0.21 | -0.05 | -0.06 | -0.06 | 0.19 |
| BTW | -0.03 | -0.11 | -0.02 | -0.01 | · | -0.08 | -0.06 | -0.02 | 0.10 |
| ZHONGJI | 0.02 | 0.06 | 0.00 | 0.01 | · | · | · | · | 0.062 |
| XCN | · | -0.02 | · | · | · | -0.07 | · | · | 0.050 |
| SOPH | -0.01 | -0.05 | 0.00 | · | · | · | · | · | 0.046 |
| UP | · | · | -0.01 | · | · | · | 0.02 | · | 0.034 |
| SKHYNIX | 0.02 | 0.04 | 0.01 | 0.01 | · | · | · | · | 0.032 |
| CYBER | -0.05 | -0.05 | · | -0.04 | · | -0.05 | · | -0.02 | 0.032 |
| CSOPSKHYNIX2L | 0.04 | · | 0.01 | · | · | · | · | · | 0.029 |
| PONS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | · | · | 0.028 |
values are % per hourAll pair trades and the full map →
How the exchanges actually differ
A cap is the most an exchange can charge in a single settlement. These are not retellings of the exchanges' own docs: the values below show up in our own data, and the rate genuinely runs into them.
Binance
Rate cap — 2% per settlement: in our data the rate genuinely hits it.
Bybit
Rate cap — 2.5% per settlement, the highest among the radar's exchanges: peak cross-exchange spread is often set by Bybit.
OKX
Rate cap — 1% per settlement, the lowest among the radar's exchanges: during run-ups OKX “lags” its neighbours — which is why it's a frequent second leg of hedged pairs.
Bitget
Rate cap — 2% per settlement: in our data the rate genuinely hits it.
Hyperliquid
Settlement every hour: eight cutoffs where others have one — a smaller rate per settlement, but more often.
Gate
Rate cap — 2% per settlement: over the past month the rate hit it dozens of times in our data.
Aster
No single cap shows up in our data: the monthly maximum is about 1.9% per settlement. Some pairs settle every hour, so compare them with other venues only on an hourly basis.
Bitunix
The rate reaches 2% per settlement, as on Binance and Bitget. The exchange does not publish open interest, so pair cards don't show it.
Frequently asked
Which exchange has the highest funding rate?
There is no permanent answer: the extreme moves between venues over the course of a day. What differs consistently is the CAPS — Bybit allows 2.5% per settlement, the highest among the radar's exchanges, OKX 1%, the lowest. That is why the peak spread is usually set by Bybit while OKX ends up as the second leg of a pair trade. What is burning right now is on the home page and in each exchange's catalogue.
How do settlement intervals differ?
The baseline is 8 hours, but exchanges move heated pairs to 4 hours, 2 hours, even one. Hyperliquid always charges hourly: eight settlements where the others have one. That is why raw percentages are not comparable across exchanges — only the rate normalized to an hour is.
How many exchanges do you need for a pair trade?
At least two: a pair trade captures the difference between rates, not the rate itself. Accounts are free, and opening them in advance is cheaper than watching a divergence pass you by. Live pairs with fee break-even are on the pairs page.
Why these exchanges?
The largest centralized perp venues (Binance, Bybit, OKX, Bitget), two venues with a long tail of small altcoins (Gate, Bitunix) and two perp DEXs (Hyperliquid with hourly funding, and Aster) — most trackers do not cover decentralized venues at all. All data comes from the exchanges' public APIs; no keys or registration involved.
Referral links will appear once affiliate programs are approved — together with fee discounts for you. Check exact discount sizes on the exchange's page at signup.