What is a funding rate?
A periodic payment between long and short holders of a perpetual contract that keeps its price close to the spot index. It is exchanged between traders, not paid to the exchange.
Crypto funding rates: Binance vs OKX
Current funding rate per period for the most traded USDT perpetual contracts, with an annualized estimate and the next settlement time on each exchange.
Source: Binance USDT-M premiumIndex + OKX public funding-rate API · top symbols by Binance 24h volume
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What this page shows
Perpetual futures never expire, so exchanges use funding payments to keep the contract price near the spot index. Every funding period (usually 8 hours) one side pays the other: when the rate is positive longs pay shorts, when it is negative shorts pay longs.
A persistently high positive rate means the crowd is long and paying for it — a crowded trade that can unwind quickly. A negative rate means shorts are paying, which often appears after sharp drops. Comparing Binance with OKX shows where the same position is cheaper to hold.
Rates are read from each exchange's public API. The annualized column multiplies the current rate by 1,095 periods a year; it is a comparison aid, not a prediction. Some contracts settle every 4 hours or every hour on one venue — check the contract specification before trading.
Frequently asked questions
What does a positive or negative funding rate mean?
Positive: longs pay shorts and the market leans long. Negative: shorts pay longs and the market leans short. Size matters: 0.01% per 8 hours is the common neutral baseline on Binance; 0.1% or more is unusually high.
How is the annualized rate calculated?
Annualized = current rate × 3 periods per day × 365 days. It assumes the current rate persists, which it rarely does, so treat it as a comparison aid rather than an expected return.
Why do Binance and OKX show different rates?
Each exchange computes funding from its own order book and index, with its own interest-rate component, caps and sometimes a different interval. That gap is why traders compare venues before holding a position.