Crypto funding rates, all venues side by side
7 perpetual futures × 4 venues at a glanceCurrent crypto funding rates per perp and venue, ranked against each venue's own 2-year history. Binance, Bybit and OKX settle every 8 hours; Hyperliquid every hour. Negative streaks mean shorts pay longs; positive means longs pay shorts.
Funding: Longs Pay Shorts at 0.33 bps (28th Pctl); Next Payment Tonight; Past 24h Median +0.04 %
The funding rate on BTC perpetual futures stands at 0.33 bps (0.0033 %) per 8 hours, placing it at the 28th percentile historically. Currently, longs pay shorts (payer). The next payment on Binance, Bybit, and OKX occurs on 2026‑09‑14 at 00:00 Z, while Hyperliquid’s next payment is earlier on 2026‑09‑13 at 18:00 Z. The venue spread ranges from 0.40 bps on Bybit to 0.68 bps on OKX. In past 24‑hour outcomes when the funding rate fell between the 18th and 38th percentile, the median return was +0.04 % (with a worst‑case median drawdown of ‑1.25 %). Over 90 % of outcomes ranged from ‑2.65 % to +1.98 %, and the conditional hit rate (positive return) was 51.58 %. The rate has been positive for 136 consecutive hours.
FAQ
What is a funding rate term structure?
Funding term structure is a side-by-side view of current 8-hour funding rates across multiple perpetual pairs, ranked against each pair's own 2-year history. MarketTrace shows it for BTC, ETH, SOL, BNB, XRP, DOGE and HYPE so you can compare which perp is cheap or expensive to short or long right now relative to its own past.
What does a funding rate percentile mean?
A funding rate percentile of N means N% of the asset's 8-hour funding cycles in the last two years printed at or below the current rate. The 0th percentile is the most negative reading in the 2-year window; the 100th is the most positive. A current reading at the 1st percentile is therefore an unusually negative print historically.
What does a negative funding rate mean?
Negative funding means short positions pay long positions at each 8-hour funding settlement on Binance perpetuals. It is the reverse of the normal state where longs pay shorts. Negative funding signals that the order book is leaning short and the exchange is incentivising longs to take the other side.
What is a funding streak?
A funding streak is the run of consecutive 8-hour cycles that share the same sign as the latest cycle. A 3-day negative streak means nine consecutive cycles of negative funding. Streaks are flagged 'rare' when the current length is in the top 10% of historical same-direction streaks for that asset.
Which crypto perpetuals does MarketTrace track funding for?
MarketTrace tracks funding rates for seven USDT-margined perpetual pairs across Binance, Bybit, OKX and Hyperliquid: BTC, ETH, SOL, BNB, XRP, DOGE and HYPE. Each venue's percentile is ranked against that venue's own history so cross-exchange basis stress shows up directly in the table.
How often is the funding rate updated on the dashboard?
Funding rates settle every 8 hours on Binance, Bybit and OKX perpetuals (00:00, 08:00 and 16:00 UTC) and every hour on Hyperliquid. The MarketTrace dashboard refreshes its current-rate read every 60 seconds and recomputes the percentile on each refresh.
What is Hyperliquid's funding rate?
Hyperliquid settles funding every hour instead of every 8 hours, so a single Hyperliquid funding print is roughly one-eighth the magnitude of a comparable Binance, Bybit or OKX print. Cumulative cost over a 24-hour hold is similar across venues when the perp basis is the same. The MarketTrace scoreboard ranks Hyperliquid funding against its own multi-year history (over 17,000 hourly cycles, vs roughly 2,200 8-hour cycles on each CEX) so the percentile is honest about sample size.
Which crypto has the highest funding rate right now?
The highest and lowest current funding rate across every tracked perp and venue is shown live at the top of this page and refreshes every 60 seconds. An extreme on one venue is not an extreme everywhere: the same perp can print a top-decile rate on Bybit while Binance sits mid-range, and the cross-venue spread on that same line is what measures the gap.
What is funding rate arbitrage?
Funding rate arbitrage means holding the same perpetual position on two venues that pay different funding, so the price exposure cancels and the rate difference is what remains. MarketTrace shows that difference between venues as a measured fact; it does not execute, recommend or size the trade. For how far these gaps have stretched historically, see funding rate extremes.