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BTC perpetual long: price vs funding-adjusted return

What one coin of a Binance USDT perpetual earned over the last seven completed UTC days from price alone, and after the funding it actually paid or received. A hypothetical estimate from recorded settlements and recorded marks.

As of 08:49 UTC

Hypothetical mark-snapshot estimate. One coin of Binance BTCUSDT perpetual, held long for the whole window, on its initial notional (the entry mark). Payments and endpoints are priced at the recorded five-minute mark snapshots, not the exchange's exact settlement marks. Fees, slippage, margin and liquidation are excluded, and this is not a leveraged return.

Window 2026-10-17 00:00:00 UTC to 2026-10-24 00:00:00 UTC. Each day runs from just after 00:00 UTC up to and including the next 00:00 UTC. Source read 2026-10-24 08:49:52 UTC · Binance settlement history stored from 2019-09-01 00:00:00 UTC.

BTC over the window

binance:perp:BTCUSDT · seven completed UTC days
81,566.40Entry mark P0 (USDT)
81,147.54Endpoint mark Pt (USDT)
-0.5135%Price only (Pt − P0) ÷ P0
-0.1203%Funding cashflow −Σ(rate × mark) ÷ P0
-0.6338%Funding-adjusted return

Cumulative return since entry

% of the entry mark · at each UTC midnight
  • Price only
  • Funding-adjusted
-2% 0% 2% 4% 18 Oct 20 Oct 22 Oct 24 Oct Price only: +0.0000% Price only: -0.1355% Price only: +0.6371% Price only: +0.4183% Price only: +1.7388% Price only: +3.0449% Price only: -0.2229% Price only: -0.5135% Funding-adjusted: +0.0000% Funding-adjusted: -0.1493% Funding-adjusted: +0.6065% Funding-adjusted: +0.3603% Funding-adjusted: +1.6591% Funding-adjusted: +2.9508% Funding-adjusted: -0.3222% Funding-adjusted: -0.6338%

Dashed: price only. Solid: funding-adjusted. A line breaks where an endpoint mark is unavailable and ends at the first incomplete day; missing payments are never plotted as zero.

Daily endpoints, BTC

Cumulative since entry, UTC days
Cumulative price-only return, funding cashflow and funding-adjusted return at the end of each UTC day, BTCUSDT on Binance
Day (UTC)Mark at day end (USDT)Price onlyFundingFunding-adjustedPayments · coverage
81,455.90 -0.1355% -0.0138% -0.1493% 3
24.0 / 24h
ledger
82,086.08 +0.6371% -0.0307% +0.6065% 3
24.0 / 24h
ledger
81,907.60 +0.4183% -0.0581% +0.3603% 3
24.0 / 24h
ledger
82,984.70 +1.7388% -0.0798% +1.6591% 3
24.0 / 24h
ledger
84,050.00 +3.0449% -0.0941% +2.9508% 3
24.0 / 24h
ledger
81,384.60 -0.2229% -0.0993% -0.3222% 3
24.0 / 24h
ledger
81,147.54 -0.5135% -0.1203% -0.6338% 3
24.0 / 24h
ledger

Each row is the UTC day that starts on the date shown. Its mark and cumulative results are at the next 00:00 UTC, the day's endpoint.

Payment ledger

Each settled payment with the mark it is priced at
2026-10-173 recorded payments
Recorded BTCUSDT payments on 2026-10-17 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-17 08:00:00 UTC8h0.0037%81,697.49-3.0310
2026-10-17 16:00:00.003 UTC
assigned as 16:00:00 UTC		8h0.0037%81,319.20-3.0300
2026-10-18 00:00:00 UTC8h0.0064%81,455.90-5.2230
Sum of these payments (−rate × mark)-11.2839
2026-10-183 recorded payments
Recorded BTCUSDT payments on 2026-10-18 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-18 08:00:00.002 UTC
assigned as 08:00:00 UTC		8h0.0060%81,645.00-4.9232
2026-10-18 16:00:00 UTC8h0.0058%81,139.03-4.7393
2026-10-19 00:00:00 UTC8h0.0050%82,086.08-4.0698
Sum of these payments (−rate × mark)-13.7324
2026-10-193 recorded payments
Recorded BTCUSDT payments on 2026-10-19 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-19 08:00:00.004 UTC
assigned as 08:00:00 UTC		8h0.0100%82,685.44-8.2685
2026-10-19 16:00:00.003 UTC
assigned as 16:00:00 UTC		8h0.0080%81,943.40-6.5260
2026-10-20 00:00:00.006 UTC
assigned as 00:00:00 UTC		8h0.0092%81,907.60-7.5421
Sum of these payments (−rate × mark)-22.3366
2026-10-203 recorded payments
Recorded BTCUSDT payments on 2026-10-20 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-20 08:00:00.005 UTC
assigned as 08:00:00 UTC		8h0.0071%81,513.13-5.7891
2026-10-20 16:00:00.006 UTC
assigned as 16:00:00 UTC		8h0.0079%82,582.66-6.4877
2026-10-21 00:00:00 UTC8h0.0065%82,984.70-5.4289
Sum of these payments (−rate × mark)-17.7056
2026-10-213 recorded payments
Recorded BTCUSDT payments on 2026-10-21 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-21 08:00:00 UTC8h0.0085%83,130.20-7.0993
2026-10-21 16:00:00.001 UTC
assigned as 16:00:00 UTC		8h0.0049%84,510.99-4.1377
2026-10-22 00:00:00.007 UTC
assigned as 00:00:00 UTC		8h0.0005%84,050.00-0.4261
Sum of these payments (−rate × mark)-11.6631
2026-10-223 recorded payments
Recorded BTCUSDT payments on 2026-10-22 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-22 08:00:00.003 UTC
assigned as 08:00:00 UTC		8h-0.0014%82,168.60+1.1512
2026-10-22 16:00:00.001 UTC
assigned as 16:00:00 UTC		8h0.0013%81,649.45-1.0329
2026-10-23 00:00:00.006 UTC
assigned as 00:00:00 UTC		8h0.0054%81,384.60-4.3695
Sum of these payments (−rate × mark)-4.2512
2026-10-233 recorded payments
Recorded BTCUSDT payments on 2026-10-23 (UTC day) with the mark snapshot each is priced at
Settlement (raw UTC)IntervalPaid rate (native)Mark (USDT)Long cashflow per coin (USDT)
2026-10-23 08:00:00.004 UTC
assigned as 08:00:00 UTC		8h0.0071%81,542.50-5.7691
2026-10-23 16:00:00.005 UTC
assigned as 16:00:00 UTC		8h0.0100%81,611.36-8.1611
2026-10-24 00:00:00.003 UTC
assigned as 00:00:00 UTC		8h0.0039%81,147.54-3.1964
Sum of these payments (−rate × mark)-17.1267

A positive rate is paid by the long, so its cashflow is negative: −rate × mark per coin. The funding column divides the running sum of these by the entry mark; the adjusted return is the price return plus that funding cashflow. Rates are the native paid rate per interval: never prorated, normalised to 8 hours or compounded. A raw stamp within 1 second of the hour is assigned to that hour and priced at that hour's snapshot.

How it is calculated. With entry mark P0, endpoint mark Pt and settled rates rj paid at marks Pj: price return (Pt − P0) ÷ P0, funding cashflow −Σ(rj × Pj) ÷ P0, adjusted return ((Pt − P0) − Σ(rj × Pj)) ÷ P0. Marks are the recorded five-minute mark snapshots of this one Binance market, matched by exact timestamp; an absent, invalid or nonpositive snapshot makes that payment or endpoint unavailable. Settlement coverage follows the settled carry history rules for the Binance leg, which checks recorded data, not that the exchange paid nothing else.

BTC funding-adjusted return FAQ

How is the funding-adjusted return calculated?

For one coin held for seven completed UTC days, the price return is (end mark − entry mark) ÷ entry mark. The funding cashflow of a long is −Σ(paid rate × mark at that payment) ÷ entry mark, so a positive rate is a cost and a negative rate a receipt. The funding-adjusted return is the sum of the two. Payments are not compounded or re-invested.

Which prices and funding payments does it use?

Funding payments are the recorded, settled Binance USDT-perpetual rates at their native interval, never converted to 8-hour quotes. Each payment and each daily endpoint is priced with the recorded five-minute mark-price snapshot stamped at that exact UTC time. When a snapshot is missing the payment or endpoint is shown as unavailable instead of being estimated or counted as zero.

Is this the return of a real {} trade?

No. It is a hypothetical estimate on the initial notional of one unleveraged coin. Snapshot marks stand in for the exact settlement marks, and fees, slippage, margin interest, liquidation and any leverage are left out. It is not a leveraged ROI and not trading advice.