S Funding Rate & Schedule
S perpetual futures funding rate on 6 exchanges: Bybit, OKX, Binance, MEXC, BingX, Hyperliquid. Each exchange's next rate, how often it is collected, the next collection time, the 8-hour equivalent and 24h volume are below. Data as of 2026-10-18 00:39 UTC, from the exchanges' public endpoints.
- • Cheapest for longs: Bybit (8h equivalent −0.0263%).
- • Best for shorts: Hyperliquid (8h equivalent +0.0035%).
- • Cross-exchange spread: 0.0298% per 8h.
- • Next collection: Hyperliquid at 01:00 UTC (+0.0004%, longs pay shorts).
- • Collection intervals: every 1h, 4h.
S — funding by exchange
| Exchange | Next rate | Who pays | Interval | Next collection | 8h equiv. | Annual | 24h volume | |
|---|---|---|---|---|---|---|---|---|
| Bybit | −0.0132% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0263% | −28.8% | $2.8M | |
| OKX | −0.0024% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0047% | −5.2% | $2.5M | |
| Binance | −0.0009% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0018% | −2.0% | $10.2M | |
| MEXC | −0.0006% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0012% | −1.3% | $2.1M | |
| BingX | +0.0014% | ▲ longs pay | every 4h | 04:00 UTC | +0.0028% | +3.1% | $6.6M | |
| Hyperliquid | +0.0004% | ▲ longs pay | every 1h | 01:00 UTC | +0.0035% | +3.8% | $393K |
The rate updates during the period and is fixed at collection. The 8h equivalent compares different intervals fairly (0.01% every 4h = 0.02% per 8h). Source: the exchanges' public endpoints.
Frequently asked questions
What is the S funding rate?
A periodic payment between long and short holders of the S perpetual contract. If the rate is positive, longs pay shorts; if negative, shorts pay longs. It keeps the perpetual price close to spot.
How often is S funding collected?
It depends on the exchange: Bybit 4h, OKX 4h, Binance 4h, MEXC 4h, BingX 4h, Hyperliquid 1h. Use the "8h equivalent" column to compare different intervals.
Which exchange has the lowest S funding?
At the last refresh the lowest 8h equivalent for longs was Bybit (−0.0263%) and the highest for shorts Hyperliquid (+0.0035%). Rates change during the period and are fixed at collection.
How is S funding calculated?
Payment = position size × funding rate. A 10,000 USDT S long at 0.01% pays 1 USDT at collection. Leverage doesn't change the payment; position size does. Highest 24h volume is on Binance ($10.2M).
Funding rates for other pairs
Guide: What Is the Funding Rate? How It's Calculated and When It's Paid · Funding Rate Arbitrage: Reading Cross-Exchange Funding Spreads