Volume Monitor
Live crypto data · Binance · Bybit · Hyperliquid
Connecting…

NIL funding rate live

The open-interest-weighted NIL funding rate is 0.0100% per 8 hours (≈11% APR) across 7 perpetual markets, so longs pay shorts. The highest rate is 0.0101% on Bybit (NILUSDT) and the lowest 0.0100% on Binance (NILUSDT), a spread of 0.0001% per 8h (≈0% APR). These markets hold $40.76M of open interest. Rates are converted to an 8-hour equivalent so exchanges with different funding intervals compare directly.

Tracking for ~2h Updates every 5 s NIL overview

Funding, 8hOI-weighted
0.0100%
≈11% APRlongs pay shorts
HighestBybit
0.0101%
≈11% APRNILUSDT
LowestBinance
0.0100%
≈11% APRNILUSDT
Spread between exchanges
0.0001%
≈0% APRArbitrage →

NIL funding rate by exchange

8h equivalent · hover a rate for the exact APR
Market Funding 8h APR Who pays Open interest OI share 24h volume Price Trade
Binance NILUSDT 0.0100% 11% Longs pay $11.27M 27.6% $66.85M 0.1037 Trade
Hyperliquid NIL 0.0100% 11% Longs pay $10.42M 25.6% $6.52M 0.1040 Trade
Mexc NIL_USDT 0.0100% 11% Longs pay $9.64M 23.7% $3.76M 0.1038 Trade
Bybit NILUSDT 0.0101% 11% Longs pay $4.97M 12.2% $22.62M 0.1039 Trade
Bitget NILUSDT 0.0100% 11% Longs pay $3.12M 7.6% $8.57M 0.1039 Trade
Kucoin NILUSDTM 0.0100% 11% Longs pay $1.32M 3.2% $1.99M 0.1039 Trade
Htx NIL-USDT 0.0100% 11% Longs pay $23K 0.1% $361K 0.1037 Trade

Sorted by open interest. Exchanges settle funding every 1, 4 or 8 hours; every rate here is converted to 8 hours. Trade links go to the exchange and may be referral links. Compare every coin on the funding rates page.

Bybit Trade on Bybit

No account yet? Signing up through our link helps keep Volume Monitor free.

Sign up on Bybit ↗

Referral link · availability depends on your country (not available in the US)

HL New to Hyperliquid?

Code VOLUMEMONITOR saves 4% on fees for your first $25M of volume. New wallets only: use it before your first trade.

Join Hyperliquid ↗

Referral link · availability depends on your country

About the NIL funding rate

What is the NIL funding rate?

NIL perpetual futures never expire, so exchanges keep their price near spot with funding: a periodic payment between longs and shorts. When the perp trades above spot, the rate is positive and longs pay shorts; below spot it turns negative and shorts pay longs. The payment is a percentage of position size, charged every 1, 4 or 8 hours depending on the exchange.

How to read it

Binance and Bybit's default rate when the perp is in line with spot is 0.0100% per 8h (about 11% APR). Well above that means leveraged longs are paying up to hold NIL; negative means shorts are crowded. The APR column shows what holding a position costs or earns over a year at today's rate. A wide spread between exchanges is what funding arbitrage traders look for.

Why do exchanges show different rates?

Each exchange computes funding from its own order book and premium, so the NIL rate differs by venue, and intervals differ too. Volume Monitor converts every rate to an 8-hour equivalent and weights the headline figure by open interest. Rates update every few seconds from the exchanges' public feeds.