O 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 OUSDT | 0.0392% | 43% | Longs pay | $4.68M | 50.6% | $1.27M | 0.5329 | Trade |
| Bitget OUSDT | 0.0100% | 11% | Longs pay | $1.52M | 16.5% | $202K | 0.5328 | Trade |
| KuCoin OUSDTM | 0.0100% | 11% | Longs pay | $1.21M | 13.1% | $1.40M | 0.5327 | Trade |
| MEXC O_USDT | 0.0100% | 11% | Longs pay | $792K | 8.6% | $124K | 0.5316 | Trade |
| Gate O_USDT | 0.0100% | 11% | Longs pay | $751K | 8.1% | $317K | 0.5326 | Trade |
| Bybit OUSDT | 0.0100% | 11% | Longs pay | $282K | 3.1% | $213K | 0.5324 | 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.
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About the O funding rate
What is the O funding rate?
O 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 O; 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 O 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.