W Funding Rate & Schedule
W perpetual futures funding rate on 6 exchanges: Bybit, Hyperliquid, OKX, MEXC, Binance, BingX. 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 −0.0681%).
- • Best for shorts: BingX (8h equivalent −0.0116%).
- • Cross-exchange spread: 0.0565% per 8h.
- • Next collection: Hyperliquid at 01:00 UTC (−0.0038%, shorts pay longs).
- • Collection intervals: every 1h, 4h.
W — funding by exchange
| Exchange | Next rate | Who pays | Interval | Next collection | 8h equiv. | Annual | 24h volume | |
|---|---|---|---|---|---|---|---|---|
| Bybit | −0.0341% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0681% | −74.6% | $10.0M | |
| Hyperliquid | −0.0038% | ▼ shorts pay | every 1h | 01:00 UTC | −0.0307% | −33.6% | $1.2M | |
| OKX | −0.0148% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0296% | −32.4% | $11.5M | |
| MEXC | −0.0130% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0260% | −28.5% | $1.5M | |
| Binance | −0.0130% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0260% | −28.4% | $22.4M | |
| BingX | −0.0058% | ▼ shorts pay | every 4h | 04:00 UTC | −0.0116% | −12.7% | $7.2M |
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 W funding rate?
A periodic payment between long and short holders of the W 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 W funding collected?
It depends on the exchange: Bybit 4h, Hyperliquid 1h, OKX 4h, MEXC 4h, Binance 4h, BingX 4h. Use the "8h equivalent" column to compare different intervals.
Which exchange has the lowest W funding?
At the last refresh the lowest 8h equivalent for longs was Bybit (−0.0681%) and the highest for shorts BingX (−0.0116%). Rates change during the period and are fixed at collection.
How is W funding calculated?
Payment = position size × funding rate. A 10,000 USDT W long at 0.01% pays 1 USDT at collection. Leverage doesn't change the payment; position size does. Highest 24h volume is on Binance ($22.4M).
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