Where is funding cheapest?
The same position costs different amounts on different exchanges.
This compares live funding rates side by side, so you can see where holding a long — or a short — is cheapest right now. New to funding? The plain-English explainer is below the table.
Compare the cost of one position
Compare entry and exit fees plus funding for the same position. Choose a coin, position size, holding period and direction.
Margin and P&L: USDT. Prices and notional: USDT.
Changing the contract or margin coin clears amounts and prices. Enter values in the new units.
The worked examples and formula walkthroughs on this page use linear USDT/USDC contracts unless stated otherwise.
Funding snapshot: 2026-09-16 11:11:24 UTC. Fee sources and dates are listed below.
| Exchange | Entry + exit fees | Funding cost | Estimated net cost |
|---|---|---|---|
| OKX Fee source · 2026-09-01www.okx.com/fees | 10.00 USDT | 2.49 USDT | 12.49 USDT |
| KuCoin Fee source · 2026-04-30www.kucoin.com/vip/privilege | 12.00 USDT | 2.73 USDT | 14.73 USDT |
| Binance Fee source · 2026-09-05www.binance.com/en/fee/schedule | 10.00 USDT | 6.49 USDT | 16.49 USDT |
| Bybit Fee source · 2026-09-05www.bybit.com/en/help-center/article/Trading-Fee-Structure | 11.00 USDT | 11.43 USDT | 22.43 USDT |
| Kraken Unavailable | — | — | —Unavailable |
One round trip plus funding at a constant rate and price. Each quote must match the selected settlement asset and contract type. Missing or stale quotes are excluded; positive amounts are costs and negative funding amounts are receipts.
Same coin, every exchange we track. Rates are annualized so venues on different funding schedules compare fairly.
Snapshot from 11:11 UTC — reload for a newer one. These are the venues' current estimates; the settled rate is fixed only at each funding time. The 30 coins with the deepest Binance perpetual turnover, deepest first.
BTC Gap: 15.44 pts
Cheapest for longs: OKX
| Binance | +3.38%+0.003091% / 8h Calculate funding cost |
|---|---|
| Bybit | +5.96%+0.005442% / 8h Calculate funding cost |
| OKX | +1.30%+0.001188% / 8h Calculate funding cost |
| KuCoin | +1.42%+0.0013% / 8h Calculate funding cost |
| Kraken | +16.74%+0.001911% / 1h Calculate funding cost |
ETH Gap: 20.11 pts
Cheapest for longs: Binance
| Binance | -4.58%-0.004185% / 8h Calculate funding cost |
|---|---|
| Bybit | -1.86%-0.001697% / 8h Calculate funding cost |
| OKX | -0.98%-0.0008976% / 8h Calculate funding cost |
| KuCoin | +8.98%+0.0082% / 8h Calculate funding cost |
| Kraken | +15.52%+0.001772% / 1h Calculate funding cost |
XRP Gap: 13.23 pts
Cheapest for longs: OKX
| Binance | +2.72%+0.00248% / 8h Calculate funding cost |
|---|---|
| Bybit | +5.40%+0.004935% / 8h Calculate funding cost |
| OKX | -1.62%-0.001481% / 8h Calculate funding cost |
| KuCoin | +1.10%+0.001% / 8h Calculate funding cost |
| Kraken | +11.61%+0.001325% / 1h Calculate funding cost |
ZEC Gap: 58.56 pts
Cheapest for longs: Kraken
| Binance | -11.22%-0.01025% / 8h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.01% / 8h Calculate funding cost |
| OKX | -1.99%-0.001821% / 8h Calculate funding cost |
| KuCoin | -6.02%-0.0055% / 8h Calculate funding cost |
| Kraken | -47.61%-0.005435% / 1h Calculate funding cost |
SOL Gap: 45.77 pts
Cheapest for longs: Bybit
| Binance | -4.76%-0.004349% / 8h Calculate funding cost |
|---|---|
| Bybit | -8.03%-0.007333% / 8h Calculate funding cost |
| OKX | -2.56%-0.00234% / 8h Calculate funding cost |
| KuCoin | -5.37%-0.0049% / 8h Calculate funding cost |
| Kraken | +37.74%+0.004308% / 1h Calculate funding cost |
LSK Gap: 659.08 pts
Cheapest for longs: Binance
| Binance | -648.13%-0.07399% / 1h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.00125% / 1h Calculate funding cost |
| OKX | — |
| KuCoin | — |
| Kraken | -513.31%-0.0586% / 1h Calculate funding cost |
HYPE Gap: 37.40 pts
Cheapest for longs: OKX
| Binance | +10.95%+0.005% / 4h Calculate funding cost |
|---|---|
| Bybit | +6.80%+0.006206% / 8h Calculate funding cost |
| OKX | +3.31%+0.003022% / 8h Calculate funding cost |
| KuCoin | +10.95%+0.005% / 4h Calculate funding cost |
| Kraken | +40.71%+0.004647% / 1h Calculate funding cost |
DOGE Gap: 14.92 pts
Cheapest for longs: Bybit
| Binance | +8.32%+0.007598% / 8h Calculate funding cost |
|---|---|
| Bybit | -5.42%-0.004946% / 8h Calculate funding cost |
| OKX | +9.50%+0.008675% / 8h Calculate funding cost |
| KuCoin | +2.74%+0.0025% / 8h Calculate funding cost |
| Kraken | +4.03%+0.0004595% / 1h Calculate funding cost |
BNB Gap: 9.07 pts
Cheapest for longs: OKX
| Binance | +1.62%+0.00148% / 8h Calculate funding cost |
|---|---|
| Bybit | +3.87%+0.003531% / 8h Calculate funding cost |
| OKX | +0.01%+0.00001293% / 8h Calculate funding cost |
| KuCoin | +9.09%+0.0083% / 8h Calculate funding cost |
| Kraken | +0.46%+0.00005272% / 1h Calculate funding cost |
ARB Gap: 55.05 pts
Cheapest for longs: Kraken
| Binance | -18.87%-0.01724% / 8h Calculate funding cost |
|---|---|
| Bybit | +4.00%+0.003652% / 8h Calculate funding cost |
| OKX | -19.80%-0.01808% / 8h Calculate funding cost |
| KuCoin | +10.95%+0.01% / 8h Calculate funding cost |
| Kraken | -44.10%-0.005034% / 1h Calculate funding cost |
UNI Gap: 28.35 pts
Cheapest for longs: Binance
| Binance | +4.83%+0.004412% / 8h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.01% / 8h Calculate funding cost |
| OKX | +7.64%+0.006973% / 8h Calculate funding cost |
| KuCoin | +10.95%+0.01% / 8h Calculate funding cost |
| Kraken | +33.18%+0.003788% / 1h Calculate funding cost |
SUI Gap: 12.86 pts
Cheapest for longs: OKX
| Binance | +0.77%+0.000705% / 8h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.01% / 8h Calculate funding cost |
| OKX | -1.39%-0.001272% / 8h Calculate funding cost |
| KuCoin | +10.95%+0.01% / 8h Calculate funding cost |
| Kraken | +11.47%+0.001309% / 1h Calculate funding cost |
PEPE Gap: 48.34 pts
Cheapest for longs: Kraken
| Binance | +7.43%+0.006789% / 8h · 1000PEPE Calculate funding cost |
|---|---|
| Bybit | -14.64%-0.01337% / 8h · 1000PEPE Calculate funding cost |
| OKX | -2.93%-0.002679% / 8h Calculate funding cost |
| KuCoin | +10.95%+0.01% / 8h Calculate funding cost |
| Kraken | -37.39%-0.004269% / 1h Calculate funding cost |
SYN Gap: 283.43 pts
Cheapest for longs: Kraken
| Binance | -12.15%-0.00555% / 4h Calculate funding cost |
|---|---|
| Bybit | — |
| OKX | — |
| KuCoin | — |
| Kraken | -295.58%-0.03374% / 1h Calculate funding cost |
ADA Gap: 16.62 pts
Cheapest for longs: Bybit
| Binance | -9.79%-0.008939% / 8h Calculate funding cost |
|---|---|
| Bybit | -20.93%-0.01911% / 8h Calculate funding cost |
| OKX | -4.31%-0.003935% / 8h Calculate funding cost |
| KuCoin | -9.64%-0.0088% / 8h Calculate funding cost |
| Kraken | -17.39%-0.001985% / 1h Calculate funding cost |
ENA Gap: 39.66 pts
Cheapest for longs: OKX
| Binance | +10.95%+0.005% / 4h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.005% / 4h Calculate funding cost |
| OKX | +6.15%+0.002808% / 4h Calculate funding cost |
| KuCoin | +8.10%+0.0037% / 4h Calculate funding cost |
| Kraken | +45.81%+0.00523% / 1h Calculate funding cost |
NEAR Gap: 43.22 pts
Cheapest for longs: Kraken
| Binance | +6.68%+0.0061% / 8h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.01% / 8h Calculate funding cost |
| OKX | +8.24%+0.007526% / 8h Calculate funding cost |
| KuCoin | +6.02%+0.0055% / 8h Calculate funding cost |
| Kraken | -32.27%-0.003684% / 1h Calculate funding cost |
PONS Gap: 0.00 pts
Cheapest for longs: Binance
| Binance | +10.95%+0.005% / 4h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.005% / 4h Calculate funding cost |
| OKX | +10.95%+0.005% / 4h Calculate funding cost |
| KuCoin | +10.95%+0.005% / 4h Calculate funding cost |
| Kraken | — |
LINK Gap: 40.11 pts
Cheapest for longs: KuCoin
| Binance | -2.24%-0.002049% / 8h Calculate funding cost |
|---|---|
| Bybit | -0.93%-0.000846% / 8h Calculate funding cost |
| OKX | -1.79%-0.00163% / 8h Calculate funding cost |
| KuCoin | -14.78%-0.0135% / 8h Calculate funding cost |
| Kraken | +25.33%+0.002891% / 1h Calculate funding cost |
XLM Gap: 30.60 pts
Cheapest for longs: OKX
| Binance | -25.31%-0.02311% / 8h Calculate funding cost |
|---|---|
| Bybit | -39.25%-0.03585% / 8h Calculate funding cost |
| OKX | -46.85%-0.04279% / 8h Calculate funding cost |
| KuCoin | -16.64%-0.0152% / 8h Calculate funding cost |
| Kraken | -16.25%-0.001855% / 1h Calculate funding cost |
FIL Gap: 13.99 pts
Cheapest for longs: Bybit
| Binance | +7.93%+0.007242% / 8h Calculate funding cost |
|---|---|
| Bybit | -6.06%-0.005535% / 8h Calculate funding cost |
| OKX | +1.61%+0.001468% / 8h Calculate funding cost |
| KuCoin | -1.42%-0.0013% / 8h Calculate funding cost |
| Kraken | +7.28%+0.000831% / 1h Calculate funding cost |
PUMP Gap: 19.22 pts
Cheapest for longs: Binance
| Binance | +4.16%+0.0019% / 4h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.005% / 4h Calculate funding cost |
| OKX | +7.92%+0.003618% / 4h Calculate funding cost |
| KuCoin | +10.95%+0.005% / 4h Calculate funding cost |
| Kraken | +23.38%+0.002669% / 1h Calculate funding cost |
TAO Gap: 21.35 pts
Cheapest for longs: OKX
| Binance | -9.25%-0.004223% / 4h Calculate funding cost |
|---|---|
| Bybit | -4.51%-0.002058% / 4h Calculate funding cost |
| OKX | -11.40%-0.01041% / 8h Calculate funding cost |
| KuCoin | -4.38%-0.002% / 4h Calculate funding cost |
| Kraken | +9.96%+0.001137% / 1h Calculate funding cost |
AVAX Gap: 15.73 pts
Cheapest for longs: KuCoin
| Binance | +0.62%+0.000566% / 8h Calculate funding cost |
|---|---|
| Bybit | -8.51%-0.007773% / 8h Calculate funding cost |
| OKX | -7.85%-0.007166% / 8h Calculate funding cost |
| KuCoin | -15.11%-0.0138% / 8h Calculate funding cost |
| Kraken | -7.63%-0.0008711% / 1h Calculate funding cost |
TRUMP Gap: 50.06 pts
Cheapest for longs: Kraken
| Binance | +2.83%+0.00129% / 4h Calculate funding cost |
|---|---|
| Bybit | +0.97%+0.000442% / 4h Calculate funding cost |
| OKX | +10.95%+0.005% / 4h Calculate funding cost |
| KuCoin | +6.35%+0.0029% / 4h Calculate funding cost |
| Kraken | -39.11%-0.004464% / 1h Calculate funding cost |
SAGA Gap: 24.03 pts
Cheapest for longs: Kraken
| Binance | +10.95%+0.005% / 4h Calculate funding cost |
|---|---|
| Bybit | +10.95%+0.005% / 4h Calculate funding cost |
| OKX | — |
| KuCoin | +10.95%+0.005% / 4h Calculate funding cost |
| Kraken | -13.08%-0.001493% / 1h Calculate funding cost |
WLD Gap: 5.84 pts
Cheapest for longs: OKX
| Binance | -4.15%-0.003788% / 8h Calculate funding cost |
|---|---|
| Bybit | -7.71%-0.007038% / 8h Calculate funding cost |
| OKX | -8.57%-0.00783% / 8h Calculate funding cost |
| KuCoin | -2.74%-0.0025% / 8h Calculate funding cost |
| Kraken | -4.68%-0.0005338% / 1h Calculate funding cost |
AAVE Gap: 21.64 pts
Cheapest for longs: Bybit
| Binance | +6.08%+0.005557% / 8h Calculate funding cost |
|---|---|
| Bybit | -2.17%-0.001983% / 8h Calculate funding cost |
| OKX | +2.01%+0.001835% / 8h Calculate funding cost |
| KuCoin | +10.95%+0.01% / 8h Calculate funding cost |
| Kraken | +19.47%+0.002223% / 1h Calculate funding cost |
ONDO Gap: 30.94 pts
Cheapest for longs: Bybit
| Binance | -1.32%-0.000602% / 4h Calculate funding cost |
|---|---|
| Bybit | -4.08%-0.001862% / 4h Calculate funding cost |
| OKX | +2.65%+0.00121% / 4h Calculate funding cost |
| KuCoin | +10.95%+0.005% / 4h Calculate funding cost |
| Kraken | +26.86%+0.003066% / 1h Calculate funding cost |
BCH Gap: 17.70 pts
Cheapest for longs: OKX
| Binance | -3.31%-0.003024% / 8h Calculate funding cost |
|---|---|
| Bybit | -2.85%-0.002602% / 8h Calculate funding cost |
| OKX | -8.94%-0.00816% / 8h Calculate funding cost |
| KuCoin | +8.76%+0.008% / 8h Calculate funding cost |
| Kraken | -4.29%-0.0004903% / 1h Calculate funding cost |
| Coin | Binance | Bybit | OKX | KuCoin | Kraken | Cheapest for longs | Gap (pts) |
|---|---|---|---|---|---|---|---|
| BTC | +3.38% +0.003091% / 8h Calculate funding cost | +5.96% +0.005442% / 8h Calculate funding cost | +1.30% +0.001188% / 8h Calculate funding cost | +1.42% +0.0013% / 8h Calculate funding cost | +16.74% +0.001911% / 1h Calculate funding cost | OKX | 15.44 pts |
| ETH | -4.58% -0.004185% / 8h Calculate funding cost | -1.86% -0.001697% / 8h Calculate funding cost | -0.98% -0.0008976% / 8h Calculate funding cost | +8.98% +0.0082% / 8h Calculate funding cost | +15.52% +0.001772% / 1h Calculate funding cost | Binance | 20.11 pts |
| XRP | +2.72% +0.00248% / 8h Calculate funding cost | +5.40% +0.004935% / 8h Calculate funding cost | -1.62% -0.001481% / 8h Calculate funding cost | +1.10% +0.001% / 8h Calculate funding cost | +11.61% +0.001325% / 1h Calculate funding cost | OKX | 13.23 pts |
| ZEC | -11.22% -0.01025% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | -1.99% -0.001821% / 8h Calculate funding cost | -6.02% -0.0055% / 8h Calculate funding cost | -47.61% -0.005435% / 1h Calculate funding cost | Kraken | 58.56 pts |
| SOL | -4.76% -0.004349% / 8h Calculate funding cost | -8.03% -0.007333% / 8h Calculate funding cost | -2.56% -0.00234% / 8h Calculate funding cost | -5.37% -0.0049% / 8h Calculate funding cost | +37.74% +0.004308% / 1h Calculate funding cost | Bybit | 45.77 pts |
| LSK | -648.13% -0.07399% / 1h Calculate funding cost | +10.95% +0.00125% / 1h Calculate funding cost | — | — | -513.31% -0.0586% / 1h Calculate funding cost | Binance | 659.08 pts |
| HYPE | +10.95% +0.005% / 4h Calculate funding cost | +6.80% +0.006206% / 8h Calculate funding cost | +3.31% +0.003022% / 8h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +40.71% +0.004647% / 1h Calculate funding cost | OKX | 37.40 pts |
| DOGE | +8.32% +0.007598% / 8h Calculate funding cost | -5.42% -0.004946% / 8h Calculate funding cost | +9.50% +0.008675% / 8h Calculate funding cost | +2.74% +0.0025% / 8h Calculate funding cost | +4.03% +0.0004595% / 1h Calculate funding cost | Bybit | 14.92 pts |
| BNB | +1.62% +0.00148% / 8h Calculate funding cost | +3.87% +0.003531% / 8h Calculate funding cost | +0.01% +0.00001293% / 8h Calculate funding cost | +9.09% +0.0083% / 8h Calculate funding cost | +0.46% +0.00005272% / 1h Calculate funding cost | OKX | 9.07 pts |
| ARB | -18.87% -0.01724% / 8h Calculate funding cost | +4.00% +0.003652% / 8h Calculate funding cost | -19.80% -0.01808% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | -44.10% -0.005034% / 1h Calculate funding cost | Kraken | 55.05 pts |
| UNI | +4.83% +0.004412% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | +7.64% +0.006973% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | +33.18% +0.003788% / 1h Calculate funding cost | Binance | 28.35 pts |
| SUI | +0.77% +0.000705% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | -1.39% -0.001272% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | +11.47% +0.001309% / 1h Calculate funding cost | OKX | 12.86 pts |
| PEPE | +7.43% +0.006789% / 8h · 1000PEPE Calculate funding cost | -14.64% -0.01337% / 8h · 1000PEPE Calculate funding cost | -2.93% -0.002679% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | -37.39% -0.004269% / 1h Calculate funding cost | Kraken | 48.34 pts |
| SYN | -12.15% -0.00555% / 4h Calculate funding cost | — | — | — | -295.58% -0.03374% / 1h Calculate funding cost | Kraken | 283.43 pts |
| ADA | -9.79% -0.008939% / 8h Calculate funding cost | -20.93% -0.01911% / 8h Calculate funding cost | -4.31% -0.003935% / 8h Calculate funding cost | -9.64% -0.0088% / 8h Calculate funding cost | -17.39% -0.001985% / 1h Calculate funding cost | Bybit | 16.62 pts |
| ENA | +10.95% +0.005% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +6.15% +0.002808% / 4h Calculate funding cost | +8.10% +0.0037% / 4h Calculate funding cost | +45.81% +0.00523% / 1h Calculate funding cost | OKX | 39.66 pts |
| NEAR | +6.68% +0.0061% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | +8.24% +0.007526% / 8h Calculate funding cost | +6.02% +0.0055% / 8h Calculate funding cost | -32.27% -0.003684% / 1h Calculate funding cost | Kraken | 43.22 pts |
| PONS | +10.95% +0.005% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | — | Binance | 0.00 pts |
| LINK | -2.24% -0.002049% / 8h Calculate funding cost | -0.93% -0.000846% / 8h Calculate funding cost | -1.79% -0.00163% / 8h Calculate funding cost | -14.78% -0.0135% / 8h Calculate funding cost | +25.33% +0.002891% / 1h Calculate funding cost | KuCoin | 40.11 pts |
| XLM | -25.31% -0.02311% / 8h Calculate funding cost | -39.25% -0.03585% / 8h Calculate funding cost | -46.85% -0.04279% / 8h Calculate funding cost | -16.64% -0.0152% / 8h Calculate funding cost | -16.25% -0.001855% / 1h Calculate funding cost | OKX | 30.60 pts |
| FIL | +7.93% +0.007242% / 8h Calculate funding cost | -6.06% -0.005535% / 8h Calculate funding cost | +1.61% +0.001468% / 8h Calculate funding cost | -1.42% -0.0013% / 8h Calculate funding cost | +7.28% +0.000831% / 1h Calculate funding cost | Bybit | 13.99 pts |
| PUMP | +4.16% +0.0019% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +7.92% +0.003618% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +23.38% +0.002669% / 1h Calculate funding cost | Binance | 19.22 pts |
| TAO | -9.25% -0.004223% / 4h Calculate funding cost | -4.51% -0.002058% / 4h Calculate funding cost | -11.40% -0.01041% / 8h Calculate funding cost | -4.38% -0.002% / 4h Calculate funding cost | +9.96% +0.001137% / 1h Calculate funding cost | OKX | 21.35 pts |
| AVAX | +0.62% +0.000566% / 8h Calculate funding cost | -8.51% -0.007773% / 8h Calculate funding cost | -7.85% -0.007166% / 8h Calculate funding cost | -15.11% -0.0138% / 8h Calculate funding cost | -7.63% -0.0008711% / 1h Calculate funding cost | KuCoin | 15.73 pts |
| TRUMP | +2.83% +0.00129% / 4h Calculate funding cost | +0.97% +0.000442% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +6.35% +0.0029% / 4h Calculate funding cost | -39.11% -0.004464% / 1h Calculate funding cost | Kraken | 50.06 pts |
| SAGA | +10.95% +0.005% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | — | +10.95% +0.005% / 4h Calculate funding cost | -13.08% -0.001493% / 1h Calculate funding cost | Kraken | 24.03 pts |
| WLD | -4.15% -0.003788% / 8h Calculate funding cost | -7.71% -0.007038% / 8h Calculate funding cost | -8.57% -0.00783% / 8h Calculate funding cost | -2.74% -0.0025% / 8h Calculate funding cost | -4.68% -0.0005338% / 1h Calculate funding cost | OKX | 5.84 pts |
| AAVE | +6.08% +0.005557% / 8h Calculate funding cost | -2.17% -0.001983% / 8h Calculate funding cost | +2.01% +0.001835% / 8h Calculate funding cost | +10.95% +0.01% / 8h Calculate funding cost | +19.47% +0.002223% / 1h Calculate funding cost | Bybit | 21.64 pts |
| ONDO | -1.32% -0.000602% / 4h Calculate funding cost | -4.08% -0.001862% / 4h Calculate funding cost | +2.65% +0.00121% / 4h Calculate funding cost | +10.95% +0.005% / 4h Calculate funding cost | +26.86% +0.003066% / 1h Calculate funding cost | Bybit | 30.94 pts |
| BCH | -3.31% -0.003024% / 8h Calculate funding cost | -2.85% -0.002602% / 8h Calculate funding cost | -8.94% -0.00816% / 8h Calculate funding cost | +8.76% +0.008% / 8h Calculate funding cost | -4.29% -0.0004903% / 1h Calculate funding cost | OKX | 17.70 pts |
- ● Negative — longs get paid to hold.
- ● Positive — longs pay to hold.
- Shown per year. Under each figure: that venue's own rate, its funding interval and, for bundle contracts, the contract unit.
- Gap = highest minus lowest annualized rate across the venues shown, in percentage points per year.
Why the same position costs different amounts
Funding is a small payment that perpetual futures traders make to each other every few hours. It exists to keep the perpetual contract's price tethered to the real spot price. You never pay it to the exchange — it moves from the crowded side of the trade to the other side.
Each exchange calculates its own funding rate from its own order book: it measures how far its perpetual has been trading from the index price on average, adds a small interest component and damps the result. If a coin's perpetual sits further above spot on one venue than on another, that venue's rate will be higher. That is why the same coin can show a positive rate on one exchange and a negative rate on another at the very same moment.
The exchanges also settle on different schedules. Most charge funding every eight hours, hundreds of pairs on Binance and Bybit run on four-hour or one-hour cycles, and Kraken has no fixed settlement at all — its funding accrues continuously and is realized every hour. A rate of 0.01% means something very different when it is collected every hour instead of every eight. This page annualizes every rate so the venues can be compared on equal terms.
For a beginner the practical use is simple. If you plan to hold a long position overnight, the venue with the lowest annualized rate costs you the least, and a negative rate means you are paid to hold it. If you are short, the venue with the highest rate is the best of the set: when rates are positive it pays you the most, and when every rate is negative it is where you owe the least. Funding is only one cost among several, though: trading fees, spread and liquidity still matter. And what you see here is each venue's current estimate — it can move right up to the funding time, and only the settled rate is final.
Frequently Asked Questions
Why is the funding rate different on every exchange?
Because each exchange derives its rate from its own order book — from how far its own perpetual has been trading from the index price, not from a count of long and short traders. A venue whose perpetual sits well above spot will charge longs more. The gaps are usually small on deep markets like Bitcoin and much wider on smaller altcoins.
What does a negative funding rate mean?
A negative rate means short traders are paying long traders, usually because the perpetual is trading below spot — the short side is the crowded one. If you are long, a negative rate means you collect a payment at each settlement instead of paying one; on Kraken it accrues to you continuously.
Which exchange is cheapest for holding a long position?
The one with the lowest annualized rate at that moment, which is the venue marked in the cheapest-for-longs column. It changes constantly, so check it before you open a position rather than relying on whichever venue was cheapest last week.
Why show annualized rates instead of the raw rate?
Because the exchanges settle on different schedules — hourly on Kraken, usually every eight hours elsewhere. Comparing raw per-interval rates would make an hourly venue look cheap when it actually charges eight times as often. Annualizing puts every venue on the same basis.
Can I profit from the difference between exchanges?
Traders do run funding arbitrage, holding opposite positions on two venues to collect the difference. It is not free money: you pay trading fees on both legs, you need margin on both venues, and the rates can move against you at the next settlement. It is an advanced strategy, not a beginner one.
How often do these numbers update?
The table is rebuilt from each exchange's live API when the page is requested, behind a short cache, and the snapshot time is shown above it. The figures are each venue's current estimate for its next funding time: they can change right up to that moment, and Kraken's accrues continuously. Reload the page for a newer snapshot.
Compare before opening an account
The total is not just the trading percentage: funding, currency conversion, spread, slippage, execution fees and withdrawal charges can all matter. Compare the amount of the same asset you would receive for the same cash budget at approximately the same time. Separate a simple quoted purchase from an order-book trade; comparing different interfaces can make one exchange appear cheaper without being a like-for-like test.