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    Compare perpetual funding rates

    Funding is one part of the cost of holding a position.

    Compare the same asset across the available venues. Lower rates favor longs and higher rates favor shorts for funding alone; fees, price basis, spread, slippage and collateral also affect the result. Annualized rates assume the current rate stays constant and do not forecast returns.

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    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.

    The worked examples and formula walkthroughs on this page use linear USDT/USDC contracts unless stated otherwise.

    Funding snapshot: 2026-10-06 16:42:33 UTC. Fee sources and dates are listed below.

    Compare the cost of one position
    ExchangeEntry + exit feesFunding costEstimated net cost
    Bybit
    Fee source · 2026-09-05www.bybit.com/en/help-center/article/Trading-Fee-Structure
    		⁦11.00 USDT⁩⁦−4.20 USDT⁩⁦6.80 USDT⁩
    Binance
    Fee source · 2026-09-05www.binance.com/en/fee/schedule
    		⁦10.00 USDT⁩⁦2.34 USDT⁩⁦12.34 USDT⁩
    KuCoin
    Fee source · 2026-04-30www.kucoin.com/vip/privilege
    		⁦12.00 USDT⁩⁦1.68 USDT⁩⁦13.68 USDT⁩
    OKX
    Fee source · 2026-09-01www.okx.com/fees
    		⁦10.00 USDT⁩⁦6.32 USDT⁩⁦16.32 USDT⁩
    Kraken
    Unavailable
    		———Unavailable

    Rates are each venue's published default-tier taker fee for the selected product, read on the date shown. Your account's tier, region, pair class and payment-method discounts can change them — check the fee schedule inside your account. 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.

    Rates use simple annualization to compare funding intervals. This ranks the funding component, not total trading cost or hedge profit.

    Snapshot: 2026-10-06 16:42:33 UTC. Reload for a newer observation. Estimates can change. Kraken accrues funding continuously and settles it at the end of the hour or when the net position changes. 30 covered assets with rates on at least two venues, ordered by reported Binance perpetual turnover. This is a selected comparison; turnover does not measure order-book depth.

    The download contains the same observations shown here, with UTC timestamp, native intervals and annualized rates. It records estimates, not settled payments.

    Annualized % = native rate % × 24 ÷ interval hours × 365. This is simple annualization without compounding, not a promised yield. Missing quotes are not zero rates.

    Download this dated snapshot (JSON)

    Primary sources: Binance APIBybit APIOKX APIKuCoin APIKraken API

    BTC Gap: 10.07 pts

    Lowest rate (longs): Bybit

    BTC · Annualized funding rate by exchange
    Binance +1.22%+0.001113% / 8h Calculate funding cost
    Bybit -2.19%-0.002001% / 8h Calculate funding cost
    OKX +3.30%+0.003011% / 8h Calculate funding cost
    KuCoin +0.88%+0.0008% / 8h Calculate funding cost
    Kraken +7.88%+0.0008993% / 1h Calculate funding cost
    BTC →
    ETH Gap: 5.59 pts

    Lowest rate (longs): Bybit

    ETH · Annualized funding rate by exchange
    Binance +5.73%+0.005231% / 8h Calculate funding cost
    Bybit +0.14%+0.000128% / 8h Calculate funding cost
    OKX +3.23%+0.002953% / 8h Calculate funding cost
    KuCoin +1.75%+0.0016% / 8h Calculate funding cost
    Kraken +3.43%+0.0003917% / 1h Calculate funding cost
    ETH →
    ZEC Gap: 18.23 pts

    Lowest rate (longs): OKX

    ZEC · Annualized funding rate by exchange
    Binance +2.24%+0.00205% / 8h Calculate funding cost
    Bybit +10.95%+0.01% / 8h Calculate funding cost
    OKX -7.28%-0.006646% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken -6.78%-0.000774% / 1h Calculate funding cost
    ZEC →
    SOL Gap: 16.79 pts

    Lowest rate (longs): Bybit

    SOL · Annualized funding rate by exchange
    Binance +10.30%+0.009402% / 8h Calculate funding cost
    Bybit -1.58%-0.001447% / 8h Calculate funding cost
    OKX +2.05%+0.00187% / 8h Calculate funding cost
    KuCoin +4.71%+0.0043% / 8h Calculate funding cost
    Kraken +15.20%+0.001735% / 1h Calculate funding cost
    SOL →
    RLC Gap: 29.43 pts

    Lowest rate (longs): Binance

    RLC · Annualized funding rate by exchange
    Binance -324.54%-0.03705% / 1h Calculate funding cost
    Bybit -295.11%-0.2695% / 8h Calculate funding cost
    OKX —
    KuCoin —
    Kraken —
    RLC →
    XRP Gap: 20.60 pts

    Lowest rate (longs): Bybit

    XRP · Annualized funding rate by exchange
    Binance +10.95%+0.01% / 8h Calculate funding cost
    Bybit -5.66%-0.005169% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +14.94%+0.001705% / 1h Calculate funding cost
    XRP →
    NEAR Gap: 5.93 pts

    Lowest rate (longs): Kraken

    NEAR · Annualized funding rate by exchange
    Binance +9.11%+0.00832% / 8h Calculate funding cost
    Bybit +10.95%+0.01% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +5.02%+0.0005728% / 1h Calculate funding cost
    NEAR →
    HYPE Gap: 21.04 pts

    Lowest rate (longs): OKX

    HYPE · Annualized funding rate by exchange
    Binance +10.95%+0.005% / 4h Calculate funding cost
    Bybit -6.57%-0.006002% / 8h Calculate funding cost
    OKX -10.09%-0.009216% / 8h Calculate funding cost
    KuCoin +0.44%+0.0002% / 4h Calculate funding cost
    Kraken -9.99%-0.00114% / 1h Calculate funding cost
    HYPE →
    SUI Gap: 38.89 pts

    Lowest rate (longs): Kraken

    SUI · Annualized funding rate by exchange
    Binance +1.71%+0.001565% / 8h Calculate funding cost
    Bybit -10.83%-0.009889% / 8h Calculate funding cost
    OKX -1.58%-0.001444% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken -27.94%-0.003189% / 1h Calculate funding cost
    SUI →
    DOGE Gap: 11.83 pts

    Lowest rate (longs): Kraken

    DOGE · Annualized funding rate by exchange
    Binance +10.95%+0.01% / 8h Calculate funding cost
    Bybit +10.95%+0.01% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken -0.88%-0.0001% / 1h Calculate funding cost
    DOGE →
    ADA Gap: 29.56 pts

    Lowest rate (longs): Kraken

    ADA · Annualized funding rate by exchange
    Binance +10.95%+0.01% / 8h Calculate funding cost
    Bybit +10.95%+0.01% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken -18.61%-0.002125% / 1h Calculate funding cost
    ADA →
    QNT Gap: 114.73 pts

    Lowest rate (longs): Binance

    QNT · Annualized funding rate by exchange
    Binance -70.38%-0.06428% / 8h Calculate funding cost
    Bybit +10.95%+0.01% / 8h Calculate funding cost
    OKX +44.35%+0.0405% / 8h Calculate funding cost
    KuCoin -29.46%-0.0269% / 8h Calculate funding cost
    Kraken +18.75%+0.002141% / 1h Calculate funding cost
    QNT →
    BNB Gap: 13.24 pts

    Lowest rate (longs): Bybit

    BNB · Annualized funding rate by exchange
    Binance +10.78%+0.009842% / 8h Calculate funding cost
    Bybit -2.29%-0.002095% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +1.57%+0.0001788% / 1h Calculate funding cost
    BNB →
    PUMP Gap: 31.30 pts

    Lowest rate (longs): Binance

    PUMP · Annualized funding rate by exchange
    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 +42.25%+0.004823% / 1h Calculate funding cost
    PUMP →
    FIL Gap: 37.61 pts

    Lowest rate (longs): Kraken

    FIL · Annualized funding rate by exchange
    Binance +6.71%+0.006128% / 8h Calculate funding cost
    Bybit +7.99%+0.0073% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin -4.49%-0.0041% / 8h Calculate funding cost
    Kraken -26.66%-0.003044% / 1h Calculate funding cost
    FIL →
    UNI Gap: 14.67 pts

    Lowest rate (longs): Binance

    UNI · Annualized funding rate by exchange
    Binance +8.53%+0.00779% / 8h Calculate funding cost
    Bybit +10.95%+0.01% / 8h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +23.20%+0.002648% / 1h Calculate funding cost
    UNI →
    WLD Gap: 29.01 pts

    Lowest rate (longs): Kraken

    WLD · Annualized funding rate by exchange
    Binance +0.27%+0.000248% / 8h Calculate funding cost
    Bybit -10.87%-0.00993% / 8h Calculate funding cost
    OKX +7.05%+0.006436% / 8h Calculate funding cost
    KuCoin +5.26%+0.0048% / 8h Calculate funding cost
    Kraken -21.96%-0.002507% / 1h Calculate funding cost
    WLD →
    ENA Gap: 22.43 pts

    Lowest rate (longs): OKX

    ENA · Annualized funding rate by exchange
    Binance +10.95%+0.005% / 4h Calculate funding cost
    Bybit +7.43%+0.003392% / 4h Calculate funding cost
    OKX -4.49%-0.002049% / 4h Calculate funding cost
    KuCoin +10.95%+0.005% / 4h Calculate funding cost
    Kraken +17.94%+0.002048% / 1h Calculate funding cost
    ENA →
    ORCA Gap: 362.96 pts

    Lowest rate (longs): Bybit

    ORCA · Annualized funding rate by exchange
    Binance -131.45%-0.06003% / 4h Calculate funding cost
    Bybit -494.41%-0.2258% / 4h Calculate funding cost
    OKX —
    KuCoin -147.17%-0.0672% / 4h Calculate funding cost
    Kraken —
    ORCA →
    AVAX Gap: 21.54 pts

    Lowest rate (longs): Bybit

    AVAX · Annualized funding rate by exchange
    Binance +6.38%+0.005828% / 8h Calculate funding cost
    Bybit -10.59%-0.009672% / 8h Calculate funding cost
    OKX +9.09%+0.008298% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +6.91%+0.0007883% / 1h Calculate funding cost
    AVAX →
    NMR Gap: 2,468.13 pts

    Lowest rate (longs): Bybit

    NMR · Annualized funding rate by exchange
    Binance -2,517.88%-1.15% / 4h Calculate funding cost
    Bybit -4,380.00%-0.5% / 1h Calculate funding cost
    OKX -2,040.21%-0.2329% / 1h Calculate funding cost
    KuCoin -1,911.87%-0.873% / 4h Calculate funding cost
    Kraken —
    NMR →
    PEPE Gap: 33.15 pts

    Lowest rate (longs): Bybit

    PEPE · Annualized funding rate by exchange
    Binance +4.70%+0.004291% / 8h · 1000PEPE Calculate funding cost
    Bybit -11.14%-0.01017% / 8h · 1000PEPE Calculate funding cost
    OKX +9.12%+0.00833% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +22.01%+0.002512% / 1h Calculate funding cost
    PEPE →
    AAVE Gap: 11.21 pts

    Lowest rate (longs): Bybit

    AAVE · Annualized funding rate by exchange
    Binance +10.95%+0.01% / 8h Calculate funding cost
    Bybit -0.26%-0.000236% / 8h Calculate funding cost
    OKX +5.46%+0.004983% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +6.66%+0.0007602% / 1h Calculate funding cost
    AAVE →
    TAO Gap: 27.98 pts

    Lowest rate (longs): Binance

    TAO · Annualized funding rate by exchange
    Binance +10.95%+0.005% / 4h Calculate funding cost
    Bybit +10.95%+0.005% / 4h Calculate funding cost
    OKX +10.95%+0.01% / 8h Calculate funding cost
    KuCoin +10.95%+0.005% / 4h Calculate funding cost
    Kraken +38.93%+0.004444% / 1h Calculate funding cost
    TAO →
    API3 Gap: 118.33 pts

    Lowest rate (longs): Binance

    API3 · Annualized funding rate by exchange
    Binance -266.05%-0.1215% / 4h Calculate funding cost
    Bybit -147.71%-0.06745% / 4h Calculate funding cost
    OKX -216.39%-0.09881% / 4h Calculate funding cost
    KuCoin -167.97%-0.0767% / 4h Calculate funding cost
    Kraken —
    API3 →
    NIL Gap: 0.00 pts

    Lowest rate (longs): Binance

    NIL · Annualized funding rate by exchange
    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 —
    NIL →
    GTC Gap: 11.44 pts

    Lowest rate (longs): Binance

    GTC · Annualized funding rate by exchange
    Binance -62.03%-0.05665% / 8h Calculate funding cost
    Bybit —
    OKX —
    KuCoin -50.59%-0.0462% / 8h Calculate funding cost
    Kraken —
    GTC →
    SAND Gap: 106.14 pts

    Lowest rate (longs): Kraken

    SAND · Annualized funding rate by exchange
    Binance -74.87%-0.06838% / 8h Calculate funding cost
    Bybit -6.98%-0.006375% / 8h Calculate funding cost
    OKX -76.68%-0.03501% / 4h Calculate funding cost
    KuCoin -49.71%-0.0454% / 8h Calculate funding cost
    Kraken -113.12%-0.01291% / 1h Calculate funding cost
    SAND →
    ONDO Gap: 7.12 pts

    Lowest rate (longs): Kraken

    ONDO · Annualized funding rate by exchange
    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 +3.83%+0.0004374% / 1h Calculate funding cost
    ONDO →
    LINK Gap: 9.26 pts

    Lowest rate (longs): Kraken

    LINK · Annualized funding rate by exchange
    Binance +9.42%+0.008599% / 8h Calculate funding cost
    Bybit +3.94%+0.003595% / 8h Calculate funding cost
    OKX +3.03%+0.002767% / 8h Calculate funding cost
    KuCoin +10.95%+0.01% / 8h Calculate funding cost
    Kraken +1.69%+0.0001929% / 1h Calculate funding cost
    LINK →
    Annualized funding rate by exchange
    Coin Binance Bybit OKX KuCoin Kraken Lowest rate (longs) Gap (pts)
    BTC +1.22% +0.001113% / 8h Calculate funding cost -2.19% -0.002001% / 8h Calculate funding cost +3.30% +0.003011% / 8h Calculate funding cost +0.88% +0.0008% / 8h Calculate funding cost +7.88% +0.0008993% / 1h Calculate funding cost Bybit 10.07 pts
    ETH +5.73% +0.005231% / 8h Calculate funding cost +0.14% +0.000128% / 8h Calculate funding cost +3.23% +0.002953% / 8h Calculate funding cost +1.75% +0.0016% / 8h Calculate funding cost +3.43% +0.0003917% / 1h Calculate funding cost Bybit 5.59 pts
    ZEC +2.24% +0.00205% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost -7.28% -0.006646% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost -6.78% -0.000774% / 1h Calculate funding cost OKX 18.23 pts
    SOL +10.30% +0.009402% / 8h Calculate funding cost -1.58% -0.001447% / 8h Calculate funding cost +2.05% +0.00187% / 8h Calculate funding cost +4.71% +0.0043% / 8h Calculate funding cost +15.20% +0.001735% / 1h Calculate funding cost Bybit 16.79 pts
    RLC -324.54% -0.03705% / 1h Calculate funding cost -295.11% -0.2695% / 8h Calculate funding cost ——— Binance 29.43 pts
    XRP +10.95% +0.01% / 8h Calculate funding cost -5.66% -0.005169% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +14.94% +0.001705% / 1h Calculate funding cost Bybit 20.60 pts
    NEAR +9.11% +0.00832% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +5.02% +0.0005728% / 1h Calculate funding cost Kraken 5.93 pts
    HYPE +10.95% +0.005% / 4h Calculate funding cost -6.57% -0.006002% / 8h Calculate funding cost -10.09% -0.009216% / 8h Calculate funding cost +0.44% +0.0002% / 4h Calculate funding cost -9.99% -0.00114% / 1h Calculate funding cost OKX 21.04 pts
    SUI +1.71% +0.001565% / 8h Calculate funding cost -10.83% -0.009889% / 8h Calculate funding cost -1.58% -0.001444% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost -27.94% -0.003189% / 1h Calculate funding cost Kraken 38.89 pts
    DOGE +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost -0.88% -0.0001% / 1h Calculate funding cost Kraken 11.83 pts
    ADA +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost -18.61% -0.002125% / 1h Calculate funding cost Kraken 29.56 pts
    QNT -70.38% -0.06428% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +44.35% +0.0405% / 8h Calculate funding cost -29.46% -0.0269% / 8h Calculate funding cost +18.75% +0.002141% / 1h Calculate funding cost Binance 114.73 pts
    BNB +10.78% +0.009842% / 8h Calculate funding cost -2.29% -0.002095% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +1.57% +0.0001788% / 1h Calculate funding cost Bybit 13.24 pts
    PUMP +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 +42.25% +0.004823% / 1h Calculate funding cost Binance 31.30 pts
    FIL +6.71% +0.006128% / 8h Calculate funding cost +7.99% +0.0073% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost -4.49% -0.0041% / 8h Calculate funding cost -26.66% -0.003044% / 1h Calculate funding cost Kraken 37.61 pts
    UNI +8.53% +0.00779% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +23.20% +0.002648% / 1h Calculate funding cost Binance 14.67 pts
    WLD +0.27% +0.000248% / 8h Calculate funding cost -10.87% -0.00993% / 8h Calculate funding cost +7.05% +0.006436% / 8h Calculate funding cost +5.26% +0.0048% / 8h Calculate funding cost -21.96% -0.002507% / 1h Calculate funding cost Kraken 29.01 pts
    ENA +10.95% +0.005% / 4h Calculate funding cost +7.43% +0.003392% / 4h Calculate funding cost -4.49% -0.002049% / 4h Calculate funding cost +10.95% +0.005% / 4h Calculate funding cost +17.94% +0.002048% / 1h Calculate funding cost OKX 22.43 pts
    ORCA -131.45% -0.06003% / 4h Calculate funding cost -494.41% -0.2258% / 4h Calculate funding cost — -147.17% -0.0672% / 4h Calculate funding cost — Bybit 362.96 pts
    AVAX +6.38% +0.005828% / 8h Calculate funding cost -10.59% -0.009672% / 8h Calculate funding cost +9.09% +0.008298% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +6.91% +0.0007883% / 1h Calculate funding cost Bybit 21.54 pts
    NMR -2,517.88% -1.15% / 4h Calculate funding cost -4,380.00% -0.5% / 1h Calculate funding cost -2,040.21% -0.2329% / 1h Calculate funding cost -1,911.87% -0.873% / 4h Calculate funding cost — Bybit 2,468.13 pts
    PEPE +4.70% +0.004291% / 8h · 1000PEPE Calculate funding cost -11.14% -0.01017% / 8h · 1000PEPE Calculate funding cost +9.12% +0.00833% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +22.01% +0.002512% / 1h Calculate funding cost Bybit 33.15 pts
    AAVE +10.95% +0.01% / 8h Calculate funding cost -0.26% -0.000236% / 8h Calculate funding cost +5.46% +0.004983% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +6.66% +0.0007602% / 1h Calculate funding cost Bybit 11.21 pts
    TAO +10.95% +0.005% / 4h Calculate funding cost +10.95% +0.005% / 4h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +10.95% +0.005% / 4h Calculate funding cost +38.93% +0.004444% / 1h Calculate funding cost Binance 27.98 pts
    API3 -266.05% -0.1215% / 4h Calculate funding cost -147.71% -0.06745% / 4h Calculate funding cost -216.39% -0.09881% / 4h Calculate funding cost -167.97% -0.0767% / 4h Calculate funding cost — Binance 118.33 pts
    NIL +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
    GTC -62.03% -0.05665% / 8h Calculate funding cost —— -50.59% -0.0462% / 8h Calculate funding cost — Binance 11.44 pts
    SAND -74.87% -0.06838% / 8h Calculate funding cost -6.98% -0.006375% / 8h Calculate funding cost -76.68% -0.03501% / 4h Calculate funding cost -49.71% -0.0454% / 8h Calculate funding cost -113.12% -0.01291% / 1h Calculate funding cost Kraken 106.14 pts
    ONDO +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 +3.83% +0.0004374% / 1h Calculate funding cost Kraken 7.12 pts
    LINK +9.42% +0.008599% / 8h Calculate funding cost +3.94% +0.003595% / 8h Calculate funding cost +3.03% +0.002767% / 8h Calculate funding cost +10.95% +0.01% / 8h Calculate funding cost +1.69% +0.0001929% / 1h Calculate funding cost Kraken 9.26 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 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. 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. 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. Each open contract has a long side and a short side. Matched contract exposure does not mean equal numbers of traders: one trader can hold many contracts. A funding rate does not count traders.

    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.

    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. Kraken accrues funding continuously and settles it at the end of the hour or when the net position changes.

    For the same notional exposure and an unchanged rate, a lower annualized rate means a lower funding payment for a long; a higher rate favors the short side. This compares the funding component only. It does not establish the cheapest total trade or a profitable hedge: entry and exit fees, price basis, spread, slippage, collateral and changing rates also matter. Annualization is a constant-rate illustration, not a one-year return forecast.

    Frequently Asked Questions

    Why is the funding rate different on every exchange?

    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. 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.

    What does a negative funding rate mean?

    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.

    Which exchange is cheapest for holding a long position?

    For the same notional exposure and an unchanged rate, a lower annualized rate means a lower funding payment for a long; a higher rate favors the short side. This compares the funding component only. It does not establish the cheapest total trade or a profitable hedge: entry and exit fees, price basis, spread, slippage, collateral and changing rates also matter. Annualization is a constant-rate illustration, not a one-year return forecast.

    Why show annualized rates instead of the raw rate?

    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. Use the exact contract schedule and accrual rules; one venue’s timestamp convention does not apply to every perpetual.

    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 uses cached venue observations. The snapshot time is shown above it; reload to request a newer snapshot, which may still use the current cache. Missing venue data is identified separately. Estimates can change and are not a guaranteed future payment. 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. Kraken accrues funding continuously and settles it at the end of the hour or when the net position changes.

    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.

    Related

    Kraken Exchange Review: Safety, Fees and Account SetupKraken Fees: Pro, Instant Buy and Withdrawal CostsKraken vs Kraken Pro: Fees and Which to Choose

    Methodology references

    Kraken contract specificationsBybit funding calculationCME open-interest definition

    Methodology, checks and sources

    Educational scenarios for linear USDT/USDC and inverse coin-margined contracts. These are not exchange-specific liquidation engines or forecasts.

    For derivatives, leverage is notional exposure divided by initial margin. At 8×, 1 unit of margin backs 8 units of exposure; this does not itself create a loan. Spot margin borrowing is a different product.

    • Maintenance is fixed at entry. Cross margin models one position backed by the entered wallet balance. Fees, funding, changing risk tiers, other positions and collateral haircuts are excluded. Actual venues can use different formulas and mark-price triggers.
    • Size targets a planned loss at an exact stop fill. Fees, funding, gaps and slippage are excluded. The bankruptcy boundary is not the actual liquidation trigger; maintenance and costs can cause earlier liquidation.
    • The projection holds rate, position value, mark price and interval constant. It does not model changing rates or actual settlement timestamps. Kraken accrues funding continuously; its hourly equivalent is a comparison basis.
    • Annualized % = native rate % × 24 ÷ interval hours × 365. This is simple annualization without compounding, not a promised yield. Missing quotes are not zero rates.

    Worked verification examples

    • Isolated USDT: entry 65,000, margin 1,000, 10×, maintenance 0.5% → long 58,825; short 71,175.
    • The same position with cross collateral 2,000 USDT → long 52,325 USDT.
    • Inverse BTC: entry 65,000 USD, margin 0.01 BTC, 10×, maintenance 0.5% → long 59,360.73 USD.
    • USDT account 10,000, planned risk 1%, stop distance 5%, 5× → notional 2,000, margin 400, planned loss 100 USDT.
    • USDT margin 1,000, 10×, constant 0.01% per 8 hours for 7 days → long pays 21 USDT; short receives the same amount.

    Zero entry prices, zero stop distances and maintenance at or above collateral cannot define a valid position. Zero funding produces zero cost; negative funding reverses payer and recipient.

    Primary sources

    • Bybit · Liquidation Calculator
    • Bybit · Funding Rate Calculator
    • Binance API
    • Bybit API
    • OKX API
    • KuCoin API
    • Kraken API

    Responsible publisher: MN Media s.r.o.

    Model and source checks: . Calculation tests and source review; not an independent financial certification.