W Funding Rate on Backpack

As of 2026-10-04 07:30 UTC, the W perpetual on Backpack pays -0.0143% per 1h, -0.1144% per 8 hours (-125.32% APR), so shorts pay longs. That is the 20th highest of 20 exchanges shown, against a volume-weighted average of 0.0098% per 8 hours (10.74% APR). Over the last 7 days Backpack averaged -0.0267% per 8 hours (-29.25% APR). The next funding is at 2026-10-04 08:00 UTC.

Compare Backpack with other exchanges over 7 or 30 days

The widest pairing for Backpack is long W on Backpack and short on Hyperliquid. Fees, slippage and the price basis between venues reduce the net return. Learn what a funding rate is.

Frequently asked questions

What is the W funding rate on Backpack?

-0.0143% per 1h, or -0.1144% per 8 hours (-125.32% APR), so shorts pay longs. The 7-day average is -0.0267% per 8 hours (-29.25% APR).

How often does Backpack pay W funding?

Every hour. The next payment is at 2026-10-04 08:00 UTC.

Is W funding on Backpack higher than on other exchanges?

Backpack is the 20th highest of 20 exchanges shown. The highest is Hyperliquid at 0.0074% per 1h (65.06% APR) and the lowest is Deepcoin at 0.0042% per 8h (4.60% APR).

How do you arbitrage W funding with Backpack?

Long W on Backpack and short on Hyperliquid for a gross spread of 0.1739% per 8 hours (190.38% APR). Trading fees, slippage and the price basis between the two venues reduce the net return.