Perpetual futures don’t expire — instead they use funding rates to keep the contract price anchored to spot. This calculator shows exactly what that costs (or earns) you over time.
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Per funding period
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Daily
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Weekly
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Monthly (30d)
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Annual (APR)
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Annualized rate
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Funding rates change every period. This projects current rates forward — actual costs will vary. Positive rate: longs pay shorts. Negative rate: shorts pay longs.
How funding rates work
Perpetual futures exchanges charge (or pay) a funding fee at regular intervals — typically every 8 hours:
- Positive rate → Longs pay shorts. The market is leaning bullish and paying a premium.
- Negative rate → Shorts pay longs. The market is leaning bearish or futures trade at a discount.
The fee is simple: Position size × Funding rate per period.
Practical examples
| Scenario | Position | Rate | 8h cost | Daily cost |
|---|---|---|---|---|
| Normal market | $10,000 long | +0.01% | $1.00 | $3.00 |
| Heated bull run | $10,000 long | +0.05% | $5.00 | $15.00 |
| Bearish market | $10,000 short | −0.02% | You earn $2.00 | You earn $6.00 |
Why this matters
- Basis traders use funding to earn yield: go short perps while holding spot, and collect the positive funding. This calculator helps estimate that income.
- Leveraged traders need to account for funding as a carrying cost — at elevated rates, it can eat into profits quickly.
- Timing entries: Extremely high funding rates often precede corrections (crowded long trades).
Common funding intervals
| Exchange | Interval |
|---|---|
| Binance, Bybit, OKX | 8 hours |
| dYdX | 1 hour |
| Some newer exchanges | 4 hours |
This tool is for education only and is not financial advice. Funding rates change every period — this projects the current rate forward.