Free calculator · Funding
Funding Rate Calculator for Perpetual Futures
Holding a crypto perp for a day, a week or a month? Funding is the small fee that changes hands every few hours. Kumo fills in the live rate from 12 exchanges and adds it all up: per payment, per day, per year, and as a share of your margin.
- Live rates, 12 exchanges
- Long or short
- Coins, stocks & gold perps
- Next payment countdown
Work out your funding
Pick a market and an exchange, then your size and how long you hold. Nothing you type leaves your browser.
Your result
Total funding you pay
$21.00
21 payments in 168 hours
Bitcoin on every exchange
Same size, side and holding time. Sorted from the smallest cost to the biggest for a long.
Lowest funding cost today for longs: Lighter – the smallest total for this holding time (+0.0012% every hour). That is a fact about today’s numbers, not a tip: rates move every hour, and fees, prices and safety differ by exchange.
| Exchange | Rate per payment | Per 8h | Payments | You pay (+) / get (−) |
|---|---|---|---|---|
| DEX · every hour | +0.0012% | +0.0096% | 168 | +$20.16 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| CEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| DEX · every hour | +0.0013% | +0.0100% | 168 | +$21.00 |
| DEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| DEX · every 8 hours | +0.0100% | +0.0100% | 21 | +$21.00 |
| DEX · every hour | +0.0030% | +0.0242% | 168 | +$50.74 |
Tap an exchange name to load it into the calculator. ★ = smallest cost (or biggest income) for a long today.
What is funding on perpetual futures?
Two minutes, no trading words needed.
Perpetual futures (perps) are contracts that track the price of something – Bitcoin, gold, Tesla – and never expire. You can hold one as long as you like. A long gains when the price rises, a short gains when it falls.
Because a perp never expires, nothing forces its price to meet the real (spot) price. Funding does that job: a small payment between longs and shorts every few hours. If the perp trades above the real price, longs pay shorts, which makes being long less attractive and pulls the price back down. If it trades below, shorts pay longs.
The funding rate is that payment as a % of your position. It is set again every period from how far the perp price is from the real price, plus a small fixed part on many exchanges.
The funding formula
Funding per payment = position size × funding rate
Worked example: the maths, step by step
Round numbers so you can follow along. The calculator does exactly this.
Bitcoin long, held one week
- Position size
- $10,000 (with $2,000 margin at 5×)
- Funding rate
- +0.01% every 8 hours
- Each payment
- $10,000 × 0.0001 = $1.00 (long pays)
- Payments in 7 days
- 7 × 24 ÷ 8 = 21
- Total funding
- 21 × $1.00 = $21.00
- As % of margin
- $21 ÷ $2,000 = 1.05%
- Yearly rate (APR)
- 0.01% × 3 × 365 = 10.95%
The long pays about $21 in a week. A short of the same size would receive those $21. Funding has no extra fee on top: it simply moves from one side to the other.
Same trade on an hourly exchange
- Rate per 8 hours
- +0.02% (an example rate)
- Rate per hour
- 0.02% ÷ 8 = 0.0025%
- Each payment
- $10,000 × 0.000025 = $0.25
- Payments in 7 days
- 7 × 24 = 168
- Total funding
- 168 × $0.25 = $42.00
- Yearly rate (APR)
- 0.02% × 3 × 365 ≈ 21.9%
Hourly payments look tiny, but there are 8 times as many. Always compare rates per 8 hours (or per year), never per payment.
How to use the funding rate calculator
Six steps, about a minute.
- 1Pick a marketChoose one of our 50 coins, or a stock, gold or forex perp. Kumo shows how many exchanges list it.
- 2Pick an exchangeKumo fills in that exchange’s live rate and how often it pays. Choose “my own rate” to type any rate.
- 3Choose long or shortLong = you gain if the price rises. Short = you gain if it falls. The side decides whether you pay or receive.
- 4Type your position sizeThe full size of the trade, in dollars, or as coins × price. Not just the margin you put down.
- 5Set the holding timeHours or days. Kumo counts how many payments fall in that time.
- 6Compare all exchangesThe table below the result shows the same trade on every exchange, from cheapest to dearest for your side.
Kumo’s funding tips
Funding is one cost of a trade. Before you open one, size it with the position size calculator and check where leveraged traders get forced out on the Bitcoin liquidation heatmap. Curious why rates differ between exchanges? See the funding rate arbitrage page.
The 12 exchanges Kumo reads
Seven big centralised exchanges (CEX: a company holds your money) and five decentralised ones (DEX: you trade from your own wallet on a blockchain). Links go to each exchange’s own home page.
More funding weather
Funding is one piece of the picture. These pages fill in the rest.
- Live funding ratesEvery coin on all 12 exchanges, refreshed every 15 minutes.
- Funding rate arbitrageThe biggest funding gaps between two exchanges today.
- Bitcoin funding rateBTC funding on every exchange, with its history.
- Position size calculatorHow big a trade can be for the risk you choose.
- Bitcoin liquidation heatmapWhere leveraged traders would be forced out.
- All Market ToolsFear & Greed, RSI, calculators and more.
Funding rate questions people ask
How is a funding fee calculated?
Funding fee = position size × funding rate. The position size is the full value of your trade, not your margin. A $10,000 Bitcoin long at a rate of 0.01% pays $10,000 × 0.0001 = $1 at each payment. On an exchange that pays every 8 hours that is 3 payments a day, so $3 a day.
Who pays funding, longs or shorts?
It depends on the sign of the rate. When the rate is above zero, traders holding longs pay traders holding shorts. When it is below zero, shorts pay longs. A positive rate usually means the contract trades a little above the real price because more people want to be long.
How often is funding paid?
Most big exchanges such as Binance, Bybit and OKX pay every 8 hours (at 00:00, 08:00 and 16:00 UTC), though some coins switch to every 4 or 1 hour. Hyperliquid, Lighter and dYdX pay every hour. You only pay or receive if you hold the position at the exact moment of the payment.
What is a normal funding rate?
For Bitcoin the most common rate is 0.01% per 8 hours, which is about 11% a year. Many exchanges use this as a default when the market is calm. Small coins can swing much further, to 0.1% per 8 hours or more, and the rate can turn negative when most traders are short.
Does leverage change the funding I pay?
Leverage does not change the rate, but it lets you open a bigger position with the same money. Funding is charged on the full position, so at 10× leverage a 0.01% payment is 0.1% of your margin. Over weeks that can add up and move your liquidation price closer.
Is the APR the real yearly cost?
No, it is a way to compare. APR here is the current rate × the number of payments in a year, without compounding. Funding rates change every hour, so nobody pays the same rate for a whole year. Use the daily and monthly numbers for short trades.
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- Bitcoin Rainbow ChartBitcoin’s whole history in colour bands, from deep freeze to heatwave.
- Bitcoin Liquidation HeatmapWhere leveraged traders would be forced out, shown as storm clouds above and below the price.
- Position Size CalculatorHow big should your trade be? For crypto, forex, gold and stocks.
- Crypto Profit CalculatorProfit or loss on any trade, with fees and leverage – or what if you had bought back then.
- Crypto Funding RatesLive funding for 50 coins and stock perps on 12 exchanges, per 8 hours and per year.
- Funding Rate ArbitrageThe biggest funding gaps between two exchanges today, with every risk explained.
Built by
Alex Wu
Crypto, DeFi, perps and FX · driven by data
Alex designed the Kumocast model behind these signals, sets its rules, reviews its accuracy record and updates the methodology whenever the model changes. Signals are refreshed every 30 minutes with live market data.