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Finding the cheapest exchange to hold perpetual positions
The finding
MEXC and Bitget currently provide the lowest combined holding costs across high-volume perpetual markets based on live 8-hour funding rates and default fee schedules.
ETH long positions cost 0.333% in funding over 30 days on MEXC compared to 0.900% on Bybit.
Bitget yields the lowest carrying cost for BTC longs at 0.630% per 30 days and offers negative funding yields on ZEC and SOL.
Identifying the cheapest exchange to hold perpetual contracts depends on both entry fees and ongoing carrying costs. A trader holding a position for 30 days pays significantly more in cumulative funding than in total transaction fees.
How to identify the cheapest exchange to hold perpetual positions
Holding costs for perpetual contracts consist of two elements: execution fees charged when opening or closing the trade, and funding rates settled every 8 hours. Trading fees are paid twice, while funding fees accumulate 90 times over a 30-day holding period.
On a 10,000 unit position in ETH perpetuals, a taker order costs 0.020% on MEXC (2 units) and 0.055% on Bybit (5.5 units). The round-trip fee gap is 7 units. However, the 8-hour funding rate on MEXC is 0.0037% versus 0.0100% on Bybit.
Over 30 days, 90 funding settlements total 0.333% on MEXC and 0.900% on Bybit. The funding difference alone equals 56.7 units per 10,000 units held. The exchange with the lowest trading fee is not always the cheapest venue to hold a position over weeks.
Where this goes wrong
Funding rates are variable and adjust every 8 hours based on market balance. An exchange that is cheapest today can become more expensive if market sentiment shifts long-heavy on that platform.
Current 8-hour funding rates and 30-day projection
The table below compares current 8-hour funding rates across venues and projects the 30-day cumulative funding percentage for long positions across major volume markets.
| Asset | Venue | 8h Funding Rate | Projected 30d Funding | Futures Taker Fee |
|---|---|---|---|---|
| ETH | MEXC | +0.0037% | +0.333% | 0.020% |
| ETH | OKX | +0.0044% | +0.396% | 0.050% |
| ETH | Bitget | +0.0045% | +0.405% | 0.030% |
| ETH | Bybit | +0.0100% | +0.900% | 0.055% |
| BTC | Bitget | +0.0070% | +0.630% | 0.030% |
| BTC | OKX | +0.0083% | +0.747% | 0.050% |
| BTC | MEXC | +0.0094% | +0.846% | 0.020% |
| BTC | Bybit | +0.0100% | +0.900% | 0.055% |
| ZEC | Bitget | -0.0436% | -3.924% | 0.030% |
| ZEC | Bybit | -0.0042% | -0.378% | 0.055% |
| SOL | Bitget | -0.0023% | -0.207% | 0.030% |
| SOL | Bybit | +0.0100% | +0.900% | 0.055% |
In markets with negative funding such as ZEC and SOL on Bitget, long positions receive payments from short holders every 8 hours. For ZEC on Bitget, a long position accumulates 3.924% in received funding over 30 days.
Worth knowing
Maker orders reduce entry cost across all venues. MEXC charges 0.000% maker fees, while Bitget, OKX, and Bybit charge 0.020% for maker orders.
Execution fees versus long-term holding friction
When holding a position for short intervals under 24 hours, taker fees dominate total cost. For longer holding durations, funding rate spreads quickly dwarf execution fees.
Consider a SOL long position on Bitget versus Bybit. Bitget features an 8-hour funding rate of -0.0023%, while Bybit sits at +0.0100%. The spread between these two exchanges is 0.0123% per 8-hour period.
Over 24 hours (three settlement periods), holding SOL on Bitget saves 0.0369% in funding relative to Bybit. That single day of funding difference fully offsets the 0.025% difference in taker execution fees between the two venues.
What to do instead
Compare the 8-hour funding spread against entry fees before picking a venue. Calculate total expected hold time in 8-hour blocks to find the net lowest cost venue.
Practical consequence for position management
Holding identical positions on different venues results in drastically different drag on collateral over time. For gold perps (XAU), Bybit charges 0.0042% per 8 hours while OKX charges 0.0298%.
Over 30 days, an XAU long on OKX incurs 2.682% in cumulative funding drag. On Bybit, that same position incurs 0.378% in funding drag. On a 100,000 unit margin position, this spread represents a 2,304 unit variance in holding fees over a single month.
Choosing a venue solely based on volume or default brand recognition without reviewing funding spreads results in silent friction that erodes position margin every 8 hours.
Which exchange is the cheapest exchange to hold perpetual positions for ETH?
MEXC is currently the cheapest exchange to hold perpetual ETH longs, with an 8-hour funding rate of +0.0037% and a futures taker fee of 0.020%. Over 30 days, funding on MEXC totals +0.333% compared to +0.900% on Bybit.
How does negative funding affect the cost of holding a long position?
Negative funding means short position holders pay long position holders every 8 hours. Holding a long position under negative funding rates reduces carrying costs and generates net funding credits to the margin account.
How long does it take for funding rate differences to exceed trading fees?
For most assets with significant funding spreads, cumulative funding differences exceed trading fee differences within 24 to 72 hours of holding time.
Which exchange offers the cheapest holding rate for BTC perpetuals?
Bitget offers the lowest funding rate for BTC long positions at +0.0070% per 8 hours, resulting in a projected 30-day funding cost of +0.630%.