Q 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 QUSDT | 0.0100% | 11% | Longs pay | $12.52M | 68.8% | $527.15M | 0.03153 | Trade |
| Bitget QUSDT | -0.0334% | -37% | Shorts pay | $2.98M | 16.4% | $72.97M | 0.03132 | Trade |
| Bybit QUSDT | 0.0100% | 11% | Longs pay | $1.66M | 9.1% | $85.99M | 0.03156 | Trade |
| Kucoin QUSDTM | -0.0154% | -17% | Shorts pay | $831K | 4.6% | $21.27M | 0.03136 | Trade |
| Mexc Q_USDT | 0.0100% | 11% | Longs pay | $198K | 1.1% | $1.11M | 0.03125 | 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 Q funding rate
What is the Q funding rate?
Q 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 Q; 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 Q 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.