Crypto Funding Rate Tracker

What Are Perpetual Futures Funding Rates?

Funding rates are periodic payments exchanged between long and short traders on perpetual futures contracts. When the rate is positive, longs pay shorts, indicating bullish sentiment. When negative, shorts pay longs. Sharpe Terminal tracks funding rates in real time across 13+ exchanges including Binance, Bybit, OKX, Deribit, and Hyperliquid, covering over 5,000 individual rates per update cycle.

How to Use Funding Rates for Trading

Funding rate data is essential for basis trading (cash-and-carry arbitrage), where traders go long spot and short perps to collect positive funding. Extreme funding rates often signal overleveraged positioning and potential mean reversion. Compare rates across exchanges to identify arbitrage opportunities where the same asset pays different rates on different venues. Historical funding rate charts reveal seasonal patterns and can confirm or contradict directional bias from other indicators.

Cross-Exchange Rate Comparison

Different exchanges settle funding at different intervals — Binance and Bybit use 8-hour intervals, while Hyperliquid settles every hour. Sharpe Terminal normalizes all rates to annualized percentages for direct comparison. The accumulated funding view shows cumulative payments over time, helping traders evaluate the true cost of holding leveraged positions across venues.

Frequently Asked Questions

What is a good funding rate for basis trading?

Annualized funding rates above 10-15% are generally attractive for basis trades (long spot, short perp). However, extremely high rates (above 50% annualized) often precede sharp corrections as positions unwind, so risk management is critical.

Why do funding rates differ across exchanges?

Each exchange has its own user base, liquidity profile, and market maker composition. Retail-heavy exchanges tend to have more directional positioning and higher funding rates, while institutional venues often show more balanced order flow and tighter rates.

How often are funding rates updated on Sharpe Terminal?

Funding rates are fetched directly from exchange APIs. Binance, Bybit, OKX, Deribit, and most venues settle every 8 hours; Hyperliquid settles every hour. Our cron refreshes snapshots every 30 minutes so displayed rates are near-live.

Can negative funding rates be profitable?

Yes. When funding rates are deeply negative, short sellers pay long holders. Traders can go long perps and short spot (reverse basis trade) to collect negative funding. This is common during market downturns when shorts are overcrowded.