Funding rate

The funding rate is a small percentage paid between longs and shorts at each funding interval (typically every 8 hours) on a perpetual future. It anchors the perp's price to the spot index. Annualized: APR ≈ rate × 3 × 365. A positive rate means longs pay shorts.

Estimate the annualized cost of a position with the funding rate calculator, or read the full explainer: Funding rates explained.