SPX Funding Rate Today
Current SPX funding across major exchanges, including advertised APR, model-adjusted apr, and Mirage context.
SPX funding is live, but the current annualized signal does not survive reality adjustments cleanly.
Current SPX funding by exchange
Mirage is present but more contained, meaning a larger share of headline annualized funding currently survives reality.
Advertised APR is annualized from current funding. Model-Adjusted APR is a public estimate after Mirage and execution-aware adjustments.
See Bybit funding indexFunding rate is the periodic transfer between longs and shorts in perpetual futures. A positive annualized rate can still degrade materially once fees, decay, and crowding are applied.
Read methodologyReview funding rate riskValidation status for this public metric.
Supported means stronger observed coverage. Calibration and exploratory indicate weaker empirical depth.
SPX Funding Rate FAQ
What is the current SPX funding rate?
The average SPX funding rate across major exchanges is -375.1% advertised APR. After model adjustments for execution reality, the model-adjusted APR is approximately -426.6%.
Which exchange has the best SPX funding rate?
Currently, Bybit offers the best model-adjusted APR for SPX perpetual futures funding. This accounts for execution costs, decay, and crowding effects that reduce headline yields.
How much of SPX funding yield actually survives?
The current Mirage for SPX is 4.7%, meaning approximately 95.3% of the headline annualized funding survives execution reality. Mirage accounts for fees, basis drag, decay, and crowding.
When is the next SPX funding payment?
Funding payments occur at fixed intervals: Bybit: 4h, Binance: 8h, OKX: 4h. The exact next payment time depends on the exchange, but perpetual futures funding typically settles every 8 hours on most venues.
What factors affect SPX perpetual futures funding?
SPX funding rates are driven by the balance between long and short positions, spot-perpetual basis, market sentiment, and leverage demand. High positive funding indicates bullish crowding; negative funding suggests bearish pressure.