Venue data observed at 02:13 UTC · Auto-refreshes every 60s · Sources: Binance, Bybit, OKX, KuCoin, Kraken
Showing the 50 largest contracts by turnover; the full book loads on your first search, filter or sort.
BTC funding now
+0.0064% /8h
Binance · +7.05% annualized
Next settlement
08:00 UTC
Binance BTC · 08:00 UTC
Avg Rate
-0.1318% /8h
-144.34% annualized · every rate on an 8h basis, turnover-weighted, one book per asset
Pairs positive / negative
587 ↗ · 60 ↘
of 724 pairs · 2225 contracts
Funding transfers depend on the contract and can be positive, negative or zero. The sign describes the payment direction; it does not establish traders’ motives or predict the next price move.
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Funding Payments Explained
Under the usual funding convention, a positive rate means longs pay shorts; a negative rate reverses that direction. The settled rate determines the direction, not the price at one instant. Funding can encourage alignment with a reference market without guaranteeing equality. Formulas, rate limits, valuation and timing vary by contract. Some contracts charge positions held at settlement timestamps; others accrue funding while held and settle later or when the position changes. An 8-hour schedule is not universal. Receiving funding does not protect against price losses or other costs.
A perpetual contract is a derivative with no scheduled expiry. It gives long or short exposure to a reference asset under the contract rules. Funding payments help align its price with a reference market; they do not guarantee that the prices stay equal. Positions remain subject to maintenance requirements, trading interruptions, delisting and any exceptional settlement rules.
A cash-settled perpetual position does not itself give ownership or delivery of the referenced coin. The asset used as collateral is a separate question. Linear and inverse contracts can use different quantity conventions, profit-and-loss formulas and settlement currencies. Read the specifications for the exact instrument and account.
Positive funding
Under the usual long-to-short convention, a positive rate means long positions pay short positions. A quoted rate must be read with its interval, accrual method and position valuation. It is not a guaranteed income stream for the receiving side.
Negative funding
Under the same convention, a negative rate means short positions pay long positions. Rates can change or reverse. Price losses, fees and changes in collateral can exceed funding received; the sign alone is not a trading signal.
Hypothetical single-settlement example: a linear position has a value of 10,000 settlement-currency units and a funding rate of 0.01% per 8 hours. The transfer amount is 1 in the same units. A positive rate makes the long pay and the matching short receive under this convention. The actual venue may value or accrue the transfer differently.
Funding Rate Details
Timing
Use the exact contract schedule and accrual rules; one venue’s timestamp convention does not apply to every perpetual.
Rate
Rates and limits vary by instrument and can change. There is no universal typical range or fixed direction.
Annualized example
An unchanged 0.01% every 8 hours gives 10.95% over 365 days by simple addition. This excludes compounding, fees and position-value changes and is not a forecast.
Payment basis
Use the venue’s position-value formula and settlement denomination, not the posted margin alone. Continuous accrual also depends on time held.
Perpetual contracts can cause substantial losses. Collateral additions, fees and account obligations can change the amount at risk. This guide is educational and does not establish that a product, leverage level or risk percentage is suitable for you.
Common questions
How do funding payments work?
Under the usual convention, a positive rate makes longs pay shorts and a negative rate reverses that direction. The amount depends on the contract’s position-value formula, denomination, timing and any accrual rules. Receiving funding does not protect against price losses or other costs.
Is there one funding-rate formula?
No. Venues can use different premium and interest components, observation windows, caps, valuation prices and accrual methods. Check the current specifications and rate data for the exact contract. A formula from one venue should not be treated as a universal perpetual-futures rule.
Is funding charged only at a settlement timestamp?
Not universally. Some contracts charge positions held at designated settlement times; others accrue funding while the position is open and settle it later or when the position changes. Closing before a timestamp does not universally mean no funding is owed. Check processing rules near settlement as well.
How should funding-rate extremes be compared?
Identify the venue, contract, timestamp, interval, accrual convention and data coverage before comparing observations. Normalize the time basis explicitly and distinguish a historical observation from an annualized hypothetical. This guide does not establish a verified record ranking or predict how long an extreme rate will persist.