# W funding rates and arbitrage

Updated 2026-10-30 11:08 UTC · https://afterfees.xyz/coin/W

## Best W arbitrage after every cost

No W 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._

## W funding rate on every exchange

| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| [Kraken](https://afterfees.xyz/venues/kraken) | PF_WUSD | 0.0111% | 1 h | +97.4% | −27.5% | $181.3K | 2026-10-30 12:00 |
| [Backpack](https://afterfees.xyz/venues/backpack) | W_USDC_PERP | 0.0016% | 1 h | +13.9% | +17.1% | $21.2K | 2026-10-30 12:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | WUSDT | 0.0050% | 4 h | +10.9% | −11.1% | $4.3M | 2026-10-30 12:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | W_PERP | 0.0050% | 4 h | +10.9% | +11.0% | $1.3M | 2026-10-30 12:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | WUSDT | 0.0050% | 4 h | +10.9% | −15.9% | $1.4M | 2026-10-30 12:00 |
| [KuCoin](https://afterfees.xyz/venues/kucoin) | WUSDTM | 0.0050% | 4 h | +10.9% | −7.7% | $900.6K | 2026-10-30 12:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | W-USDT | 0.0050% | 4 h | +10.9% | +0.1% | $831K | 2026-10-30 12:00 |
| [GRVT](https://afterfees.xyz/venues/grvt) | W_USDT_Perp | 0.0050% | 4 h | +10.9% | +6.5% | $132.2K | 2026-10-30 12:00 |
| [Variational](https://afterfees.xyz/venues/variational) | W-PERP | 0.0050% | 4 h | +10.9% | — | $46.1K | 2026-10-30 12:00 |
| [Aster](https://afterfees.xyz/venues/aster) | WUSDT | 0.0042% | 4 h | +9.2% | −1.1% | $38.7K | 2026-10-30 12:00 |
| [Arcus](https://afterfees.xyz/venues/arcus) | W-USD | 0.0007% | 1 h | +6.4% | −22.1% | $12.2K | 2026-10-30 12:00 |
| [Hyperliquid](https://afterfees.xyz/venues/hyperliquid) | W | 0.0004% | 1 h | +3.7% | −2.5% | $2.8M | 2026-10-30 12:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | WUSDT | 0.0016% | 4 h | +3.5% | −11.1% | — | 2026-10-30 12:00 |
| [Extended](https://afterfees.xyz/venues/extended) | W-USD | 0.0003% | 1 h | +2.6% | −11.5% | $79.2K | 2026-10-30 12:00 |
| [WOO X](https://afterfees.xyz/venues/woox) | PERP_W_USDT | 0.0011% | 4 h | +2.5% | −11.6% | $1.3K | 2026-10-30 12:00 |
| [Binance](https://afterfees.xyz/venues/binance) | WUSDT | 0.0011% | 4 h | +2.5% | −11.6% | $5M | 2026-10-30 12:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | W_USDT | 0.0011% | 4 h | +2.4% | −11.7% | $4.8M | 2026-10-30 12:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | WUSDT | 0.0011% | 4 h | +2.4% | — | — | 2026-10-30 12:00 |
| [Gate](https://afterfees.xyz/venues/gate) | W_USDT | 0.0007% | 4 h | +1.5% | −15.3% | $445.3K | 2026-10-30 12:00 |
| [OKX](https://afterfees.xyz/venues/okx) | W-USDT-SWAP | -0.0033% | 4 h | −7.3% | −26.6% | $1.8M | 2026-10-30 12:00 |
| [Crypto.com](https://afterfees.xyz/venues/cryptocom) | WUSD-PERP | -0.0069% | 1 h | −60.4% | +13.4% | $3K | 2026-10-30 12:00 |

## Borrow W to sell spot

| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 10.56% | — |
| Binance | 13.43% | — |
| Bybit | 20.20% | — |
| Gate | 20.67% | $120K |
| OKX | 24.59% | — |

## Cost to enter $10,000 of W

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | W_USDT | 4.9 bp | top of book only |
| Extended | W-USD | 5.1 bp | top of book only |
| Binance | WUSDT | 5.4 bp | top of book only |
| OKX | W-USDT-SWAP | 5.4 bp | top of book only |
| GRVT | W_USDT_Perp | 5.8 bp | top of book only |
| BingX | W-USDT | 6.3 bp | top of book only |
| Bybit | WUSDT | 6.4 bp | top of book only |
| Variational | W-PERP | 8.8 bp | top of book only |
| Gate | W_USDT | 9.7 bp | top of book only |
| Bitget | WUSDT | 10.4 bp | top of book only |
| Aster | WUSDT | 13.2 bp | top of book only |
| Hyperliquid | W | 13.3 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 W

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

## Questions

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

Not at $10,000 per side for 7 days: no W 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 W funding rate?**

Kraken at +97.4% a year (0.0111% every 1 h); the lowest is Crypto.com at −60.4%. 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._