# S funding rates and arbitrage

Updated 2026-10-29 20:06 UTC · https://afterfees.xyz/coin/S

## Best S arbitrage after every cost

No S pair nets a profit at this size right now.

_At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry._

## S funding rate on every exchange

| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| [Crypto.com](https://afterfees.xyz/venues/cryptocom) | SUSD-PERP | 0.0032% | 1 h | +28.3% | +36.3% | $6.2K | 2026-10-29 21:00 |
| [BloFin](https://afterfees.xyz/venues/blofin) | S-USDT | 0.0057% | 4 h | +12.5% | +18.9% | $253.6K | 2026-10-30 00:00 |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | SUSDTM | 0.0050% | 4 h | +10.9% | +0.4% | $1.5M | 2026-10-30 00:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | S_PERP | 0.0050% | 4 h | +10.9% | +11.2% | $1.3M | 2026-10-30 00:00 |
| [ApeX](https://afterfees.xyz/venues/apex) | S-USDT | 0.0013% | 1 h | +10.9% | +11.0% | $22.7K | 2026-10-29 21:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | S-USDT | 0.0050% | 4 h | +10.9% | +2.8% | $1.3M | 2026-10-30 00:00 |
| [Variational](https://afterfees.xyz/venues/variational) | S-PERP | 0.0050% | 4 h | +10.9% | — | $211.4K | 2026-10-30 00:00 |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | S | 0.0013% | 1 h | +10.9% | −3.0% | $687.2K | 2026-10-29 21:00 |
| [Lighter](https://afterfees.xyz/venues/lighter) | S | 0.0012% | 1 h | +10.5% | +10.5% | $101.8K | 2026-10-29 21:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | SUSDT | 0.0024% | 4 h | +5.2% | −4.4% | — | 2026-10-30 00:00 |
| [WOO X](https://afterfees.xyz/venues/woox) | PERP_S_USDT | 0.0014% | 4 h | +3.1% | −4.5% | $58 | 2026-10-30 00:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | SUSDT | 0.0014% | 4 h | +3.1% | — | — | 2026-10-30 00:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | S_USDT | 0.0013% | 4 h | +2.8% | −4.6% | $2.9M | 2026-10-30 00:00 |
| [Extended](https://afterfees.xyz/venues/extended) | S-USD | 0.0003% | 1 h | +2.6% | −5.3% | $95.6K | 2026-10-29 21:00 |
| [Binance](https://afterfees.xyz/venues/binance) | SUSDT | 0.0012% | 4 h | +2.5% | −4.7% | $6M | 2026-10-30 00:00 |
| [OKX](https://afterfees.xyz/venues/okx) | S-USDT-SWAP | 0.0007% | 4 h | +1.5% | −2.4% | $1.1M | 2026-10-30 00:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | SUSDT | -0.0027% | 4 h | −5.9% | −11.7% | $1.3M | 2026-10-30 00:00 |
| [Gate](https://afterfees.xyz/venues/gate) | S_USDT | -0.0077% | 4 h | −16.9% | +4.7% | $113.7K | 2026-10-30 00:00 |
| [Aster](https://afterfees.xyz/venues/aster) | SUSDT | -0.0098% | 4 h | −21.5% | +3.4% | $31.8K | 2026-10-30 00:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | SUSDT | -0.0135% | 4 h | −29.6% | −1.3% | $4.4M | 2026-10-30 00:00 |
| [Backpack](https://afterfees.xyz/venues/backpack) | S_USDC_PERP | -0.0035% | 1 h | −30.4% | −38.0% | $107K | 2026-10-29 21:00 |
| [Phemex](https://afterfees.xyz/venues/phemex) | SUSDT | -0.0153% | 4 h | −33.5% | — | $1.3M | 2026-10-30 00:00 |

## Borrow S to sell spot

| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| OKX | 9.32% | — |
| Bybit | 10.81% | — |
| Binance | 14.15% | — |
| Gate | 15.42% | $30K |
| Bitget | 21.58% | — |

## Cost to enter $10,000 of S

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | S_USDT | 5.7 bp | live order book |
| BingX | S-USDT | 10.6 bp | live order book |
| Bybit | SUSDT | 19.4 bp | live order book |
| KuCoin | SUSDTM | 31.7 bp | live order book |
| Binance | SUSDT | 6.2 bp | top of book only |
| OKX | S-USDT-SWAP | 7.3 bp | top of book only |
| Variational | S-PERP | 8.1 bp | top of book only |
| Extended | S-USD | 9.4 bp | top of book only |
| Bitget | SUSDT | 9.5 bp | top of book only |
| BloFin | S-USDT | 10.6 bp | top of book only |
| Aster | SUSDT | 12.1 bp | top of book only |
| Binance | SUSDT (spot) | 12.3 bp | top of book only |

_Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees._

## More on S

- [Borrow S: rates on every exchange](https://afterfees.xyz/borrow/S)

## Questions

**Is S funding-rate arbitrage profitable right now?**

Not at $10,000 per side for 7 days: no S pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.

**Which exchange has the highest S funding rate?**

Crypto.com at +28.3% a year (0.0032% every 1 h); the lowest is Phemex at −33.5%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.

_The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you._