Funding Rate
Calculate perp funding costs and basis carry.
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Your side
Enter position size, funding rate, interval and days held.
About funding rate
Perpetual futures have no expiry, so funding is the mechanism that keeps them tethered to spot: when the perp trades above spot the rate goes positive and longs pay shorts, and when it trades below the flow reverses. A rate of 0.01% every eight hours sounds negligible and annualises to around 11%, which is a substantial drag on a position held for months — or a substantial yield if you are on the receiving side. This converts a per-interval rate into what it actually costs over the period you intend to hold.
Common questions
What is a perpetual funding rate?
A periodic payment between longs and shorts that tethers a perpetual futures price to spot. Positive funding usually means longs pay shorts; negative reverses it. Over time the carry can dominate a small price move.
How do I estimate funding cost?
Multiply position notional by the rate and by how many funding intervals you hold. This page does that from the figures you enter so an eight-hour rate becomes a daily or weekly cost you can compare to expected edge.
Is historical funding a promise of future funding?
No. Funding flips with positioning and volatility. A calculator that uses a rate you typed will project a number the market may have already abandoned — update the input when the venue rate changes.