Market observations
Funding rate monitor
Compare USDT perpetual funding across six exchanges. Read the period rate alongside its settlement interval, then use annualization to compare different intervals.
Positive funding means longs pay shorts; negative funding means shorts pay longs. These are current or estimated snapshots, not a record of realized payments.
Select a column heading to sort. APR is arithmetic annualization, not a forecast or compounded return. On a small screen, scroll the table horizontally.
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How to read these rates
- Period rate: the funding fraction shown as a percentage for the stated settlement interval. A displayed 0.01% is stored as 0.0001.
- APR: period rate × (24 ÷ interval hours) × 365. For example, 0.01% every 8 hours annualizes to 10.95%.
- APR gap: the highest minus the lowest available APR for a coin, in percentage points. It excludes fees, slippage, borrowing costs and differences between contracts.
- Unavailable: a market is absent or its observation failed validation. It is never treated as a zero rate.
Public API observations are collected on a 15-minute schedule. This page shows the last available snapshot and flags it after 45 minutes. Settlement intervals follow the collector’s metadata and existing defaults; contract aliases and rate types still need a fuller audit. A gap alone does not establish an executable arbitrage or future income.
Model fees and a funding assumption with the position cost calculator, or explore dated studies in Research.