資金費率套利與價差
同一只股票的永續合約在不同平臺的資金費率並不一樣：在費率低的平臺做多、費率高的平臺做空，價格漲跌大致對沖，每次結算可以收取兩邊的費率差。同一平臺的股票代幣和永續合約之間也常有價差。下面按近 7 天平均資金費率和實時價格列出差距最大的組合，未計手續費、滑點和資金佔用。
數據截至
資金費率差最大的股票
| 股票 | 做多（費率低） | 做空（費率高） | 平均費率差 / 8 小時 | 摺合年化 | 近 30 天走勢 |
|---|---|---|---|---|---|
| Hyperliquid -0.2568% (-0.1989%) | Gate -0.0789% (-0.0059%) | +0.1779% | +194.83% | +0.0506% | |
| BingX -0.0106% (-0.0232%) | Gate +0.1326% (0.0000%) | +0.1432% | +156.81% | +0.1429% | |
| Gate 0.0000% (0.0000%) | BingX +0.1342% (+0.0050%) | +0.1342% | +146.97% | -0.0109% | |
| MEXC -0.0966% (-0.1656%) | 幣安 +0.0130% (0.0000%) | +0.1096% | +119.97% | +0.0390% | |
| MEXC +0.0170% (0.0000%) | Hyperliquid +0.1165% (+0.2352%) | +0.0995% | +108.91% | +0.0347% | |
| BingX -0.0229% (+0.0050%) | Bitget +0.0744% (0.0000%) | +0.0974% | +106.63% | +0.0448% | |
| Gate 0.0000% (0.0000%) | Hyperliquid +0.0911% (+0.1431%) | +0.0911% | +99.76% | +0.0881% | |
| 歐易 +0.0033% (0.0000%) | MEXC +0.0838% (0.0000%) | +0.0805% | +88.13% | +0.0397% | |
| Bybit -0.0593% (0.0000%) | BingX +0.0097% (+0.0050%) | +0.0690% | +75.60% | +0.0243% | |
| Bitget -0.0026% (0.0000%) | Hyperliquid +0.0640% (+0.0220%) | +0.0666% | +72.94% | +0.0047% | |
| Bybit -0.0338% (+0.0454%) | BingX +0.0247% (+0.0383%) | +0.0584% | +63.96% | +0.0256% | |
| Gate 0.0000% (0.0000%) | BingX +0.0581% (+0.0294%) | +0.0581% | +63.58% | +0.0434% | |
| Gate 0.0000% (0.0000%) | BingX +0.0573% (+0.0050%) | +0.0573% | +62.75% | +0.0249% | |
| Hyperliquid +0.0031% (+0.0439%) | BingX +0.0576% (+0.0050%) | +0.0544% | +59.59% | +0.0298% | |
| BingX -0.0021% (+0.0050%) | Bitget +0.0515% (0.0000%) | +0.0536% | +58.66% | -0.0112% | |
| Bitget -0.0491% (0.0000%) | BingX +0.0044% (+0.0050%) | +0.0535% | +58.60% | +0.0510% | |
| Bybit -0.0503% (0.0000%) | BingX +0.0031% (+0.0050%) | +0.0535% | +58.54% | +0.0295% | |
| Hyperliquid -0.0366% (-0.0200%) | Bybit +0.0162% (0.0000%) | +0.0528% | +57.86% | +0.0100% | |
| Gate +0.0031% (0.0000%) | Bybit +0.0554% (+0.0288%) | +0.0522% | +57.17% | +0.0228% | |
| Gate 0.0000% (0.0000%) | BingX +0.0518% (+0.0050%) | +0.0518% | +56.67% | +0.0593% | |
| BingX +0.0108% (-0.0050%) | Bitget +0.0618% (0.0000%) | +0.0510% | +55.90% | -0.0004% | |
| Gate -0.0019% (0.0000%) | BingX +0.0484% (+0.0698%) | +0.0503% | +55.09% | +0.0224% | |
| 幣安 -0.0229% (+0.0295%) | Bitget +0.0263% (0.0000%) | +0.0492% | +53.88% | +0.0329% | |
| BingX -0.0431% (+0.0200%) | MEXC +0.0057% (+0.0200%) | +0.0488% | +53.42% | +0.0228% | |
| BingX -0.0272% (-0.0050%) | MEXC +0.0212% (0.0000%) | +0.0484% | +52.99% | +0.0354% | |
| Gate 0.0000% (0.0000%) | BingX +0.0479% (+0.0050%) | +0.0479% | +52.44% | +0.0467% | |
| Gate +0.0001% (0.0000%) | Bitget +0.0477% (0.0000%) | +0.0476% | +52.10% | +0.0206% | |
| MEXC +0.0084% (0.0000%) | BingX +0.0559% (+0.0291%) | +0.0475% | +52.06% | +0.0315% | |
| BingX -0.0511% (-0.0131%) | MEXC -0.0052% (-0.0131%) | +0.0460% | +50.32% | +0.0397% | |
| Gate 0.0000% (0.0000%) | Hyperliquid +0.0458% (+0.2035%) | +0.0458% | +50.14% | +0.0115% |
費率為近 7 天平均值（括號內為當期費率），統一按每 8 小時顯示（Hyperliquid 等每小時結算的已換算）；只比較持倉或成交額不少於 10 萬美元、有 5 天以上記錄的美元計價合約。多數交易所週末暫停股票合約的資金費率，平均值已經包含這些時段。年化按平均費率差不變估算，實際費率每期都會變化。“近 30 天走勢”是這兩個合約每天的平均費率差，虛線為 0，下方數字是 30 天平均差（不足 14 天不顯示）；長期保持在 0 軸上方的組合比偶爾衝高的更穩定。 資金費率計算器 →
同一平臺股票代幣與永續合約的價差
| 股票 | 股票代幣 | 同平臺永續合約 | 價差 | 7 日平均資金費率 |
|---|---|---|---|---|
| MEXC MCDXUSDT | MEXC MCDSTOCK_USDT | +1.49% | +0.0076% | |
| 幣安 MRNABUSDT | 幣安 MRNAUSDT | -0.92% | +0.0034% | |
| 歐易 XAMD-USDC | 歐易 AMD-USDT-SWAP | +0.67% | +0.0071% | |
| Gate SPYX_USDT | Gate SPY_USDT | +0.57% | +0.0002% | |
| 歐易 XSQQQ-USDT | 歐易 SQQQ-USDT-SWAP | -0.55% | +0.0039% | |
| Gate LRCXG_USDT | Gate LRCX_USDT | +0.54% | 0.0000% | |
| 幣安 USDEBUSDT | 幣安 USDEXUSDT | -0.49% | +0.0109% | |
| Gate GEG_USDT | Gate GE_USDT | -0.49% | 0.0000% | |
| Gate BACG_USDT | Gate BAC_USDT | +0.47% | 0.0000% | |
| Gate PGG_USDT | Gate PG_USDT | -0.46% | -0.0050% | |
| 歐易 XXIAOMI-USDT | 歐易 XIAOMI-USDT-SWAP | +0.44% | -0.0023% | |
| 歐易 XNVDA-USDC | 歐易 NVDA-USDT-SWAP | +0.44% | +0.0035% | |
| Gate QQQX_USDT | Gate QQQ_USDT | +0.38% | +0.0042% | |
| Gate EWYG_USDT | Gate EWY_USDT | +0.38% | +0.0010% | |
| Gate CATG_USDT | Gate CAT_USDT | -0.38% | +0.0001% | |
| Gate SNXXG_USDT | Gate SNXX_USDT | +0.36% | +0.0016% | |
| 幣安 BNCBUSDT | 幣安 BNCUSDT | -0.36% | +0.0607% | |
| Gate LITEG_USDT | Gate LITE_USDT | +0.35% | +0.0049% | |
| 幣安 BBBUSDT | 幣安 BBXUSDT | -0.35% | -0.0024% | |
| Gate CRWVG_USDT | Gate CRWV_USDT | +0.31% | +0.0085% |
價差 = 永續合約價格 ÷ 同一平臺股票代幣的每股價格（已按每枚代幣對應的股數換算）− 1，資金費率為該合約近 7 天平均值。為正表示永續更貴，可考慮買入代幣、做空永續並收取資金費；為負則相反。休市期間價格波動大、深度薄，價差僅供參考。
風險提示
這些機會需要在兩個平臺分別開倉，保證金分散在兩邊，單邊行情劇烈時一側可能被強平；資金費率每期都會變化，費率差可能縮小甚至反轉；還要計入兩邊的開平倉手續費、滑點和提幣時間。本頁數據來自各平臺公開接口，僅供研究參考，不構成投資建議。