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.
Same coin, every exchange we track. Rates are annualized so venues on different funding schedules compare fairly.
| Coin | Binance | Bybit | KuCoin | Kraken | Cheapest for longs | Gap |
|---|---|---|---|---|---|---|
| BTC | +10.95% | +10.95% | +5.04% | +19.34% | KuCoin | 14.31 |
| ETH | +9.84% | +10.95% | +3.39% | +30.25% | KuCoin | 26.86 |
| SOL | +10.95% | +10.95% | +10.95% | +38.21% | Binance | 27.26 |
| XRP | +4.46% | -6.99% | +10.95% | -0.23% | Bybit | 17.94 |
| ZEC | +10.95% | +10.95% | +10.95% | +65.62% | Binance | 54.67 |
| ONG | -868.67% | -118.36% | — | — | Binance | 750.31 |
| HYPE | +10.95% | +10.95% | +10.95% | +39.42% | Binance | 28.47 |
| DOGE | +10.95% | +3.81% | +5.48% | +17.91% | Bybit | 14.10 |
| BNB | +4.08% | +10.95% | +10.95% | +14.70% | Binance | 10.63 |
| ENA | +9.44% | -46.60% | +10.95% | -22.95% | Bybit | 57.55 |
| TRUMP | +6.17% | +10.95% | +10.95% | -32.22% | Kraken | 43.17 |
| SUI | +7.29% | +10.95% | +10.95% | +15.51% | Binance | 8.21 |
| BICO | -568.36% | -54.54% | -533.70% | -746.97% | Kraken | 692.44 |
| TAO | +10.95% | +11.01% | +10.95% | +93.85% | Binance | 82.90 |
| ADA | +1.51% | -21.32% | -0.99% | +13.89% | Bybit | 35.21 |
| WLD | +10.11% | +10.95% | +10.95% | +14.57% | Binance | 4.46 |
| LINK | +10.95% | +10.95% | +10.95% | +31.91% | Binance | 20.96 |
| BMT | -80.30% | -52.17% | -44.02% | — | Binance | 36.28 |
| MOVR | +10.95% | +10.95% | +10.95% | +52.75% | Binance | 41.80 |
| TUT | +10.95% | +10.95% | +48.84% | — | Binance | 37.89 |
| NEAR | -5.76% | +10.95% | +10.95% | +38.78% | Binance | 44.53 |
| AAVE | +6.42% | -8.56% | +0.22% | +6.11% | Bybit | 14.98 |
| PROM | +10.95% | — | +6.35% | — | KuCoin | 4.60 |
| UNI | +10.95% | -0.44% | +10.95% | -15.05% | Kraken | 26.00 |
| ONT | -552.37% | -640.82% | -476.54% | -589.37% | Bybit | 164.28 |
| EDEN | -4.20% | +10.95% | +10.29% | — | Binance | 15.15 |
| PENGU | +10.95% | +10.95% | +10.95% | +5.66% | Kraken | 5.29 |
| AVAX | +7.75% | +10.95% | +8.21% | +29.77% | Binance | 22.02 |
| LTC | +10.95% | +10.95% | +10.95% | +39.14% | Binance | 28.19 |
| PAXG | +1.06% | +1.06% | +3.50% | -1.18% | Kraken | 4.68 |
- ● Negative — longs get paid to hold.
- ● Positive — longs pay to hold.
- Shown per year. Hover a cell for that venue's raw rate and funding interval.
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. If traders on one venue are more heavily long 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, Kraken charges it every hour, and hundreds of pairs on Binance and Bybit run on four-hour or one-hour cycles. 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 highest rate pays you the most. Funding is only one cost among several, though: trading fees, spread and liquidity still matter, and the rate itself changes at every settlement.
Frequently Asked Questions
Why is the funding rate different on every exchange?
Because each exchange derives its rate from its own order book and its own balance of longs and shorts. A venue where traders are heavily long 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 more traders are positioned short and the perpetual is trading below spot. If you are long, a negative rate means you collect a payment at each settlement instead of paying one.
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. The rates themselves only change when each venue recalculates them, which happens at every funding interval.