Crypto Funding Rates
Funding rates are the periodic payments that tether a perpetual futures price to spot. A positive rate means longs pay shorts — the market is crowded long; a negative rate means shorts pay longs. We track live 8-hour funding across Binance, Bybit, OKX and Bitget for 200+ coins to expose the one-sided positioning that precedes long- and short-squeeze traps.
How to read funding rates (and trade them)
What is a funding rate?
Funding rates are periodic payments between long and short traders in perpetual futures markets. When rate is positive, longs pay shorts — indicating the market is bullish and overextended. When negative, shorts pay longs — indicating bearish sentiment.
How do rates signal manipulation?
Extreme positive rates (above 0.1%) often precede long squeezes — institutional players push the price down to liquidate over-leveraged longs. Extreme negative rates signal potential short squeezes. Watch for these conditions alongside elevated Trap Scores for high-conviction setups.
How often are rates settled?
Most perpetual contracts settle funding every 8 hours (3× per day). The "Next" column shows the live countdown to the next settlement. Traders holding positions through funding pay or receive the rate multiplied by their position size.
Why do funding rates differ across exchanges?
Each venue prices its own perpetual independently, so funding can differ between Binance, Bybit, OKX and Bitget. We show all of them side by side plus the average. A wide gap (the "Spread" column) is both a funding-arbitrage opportunity and a sign that one venue's positioning is far more one-sided than the rest.
What does the annualized rate mean?
The annualized figure projects the current 8-hour rate across a full year (rate × 3 × 365). A +0.01% 8h rate is a modest +10.95%/yr; an extreme +0.1% rate annualizes to roughly +109%/yr — a cost that is rarely sustainable and usually mean-reverts, which is exactly why extremes flag squeeze risk.