What Is the Funding Rate? How It's Calculated and When It's Paid
Updated: 2026-10-17 · Türkçe
The funding rate is a periodic payment between long and short holders of a perpetual futures contract. It is paid to traders on the other side, not to the exchange, and keeps the perpetual price close to spot.
Who pays whom?
If the rate is positive, longs pay shorts — usually when the perpetual trades above spot. If negative, shorts pay longs.
Only positions open at the collection moment pay or receive.
How often is it collected?
It depends on the exchange and pair. Hyperliquid collects every hour; on Binance, Bybit, OKX, BingX and MEXC most pairs collect every 8 hours and volatile ones every 4 (sometimes 1) hours.
- 1h interval: 24 collections a day
- 4h interval: 6 a day
- 8h interval: 3 a day (usually 00:00, 08:00, 16:00 UTC)
How is it calculated?
Payment = position notional × funding rate. Leverage doesn't change the payment directly; it changes the notional.
Example (calculation only): a 10,000 USDT long at +0.01% pays 1 USDT at collection.
Comparing intervals: the 8-hour equivalent
0.01% every 4 hours equals 0.02% per 8 hours. To compare exchanges fairly, normalise: 8h equivalent = rate × (8 / interval hours).
When is the rate final?
On most exchanges the displayed rate is an estimate that updates during the period and is fixed at collection.
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Frequently asked questions
What does a positive funding rate mean?
Longs pay shorts, usually when the perpetual is above spot.
What time is funding paid?
8-hour pairs usually at 00:00, 08:00 and 16:00 UTC; 4h and 1h pairs more often. Hyperliquid every hour.
Where can I compare funding rates?
ByStock's funding board shows each pair's next rate, interval, countdown and 24h volume on Binance, Bybit, OKX, BingX, MEXC and Hyperliquid in one free table.