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| Exchange | Interval | APR ↓ | Rate | APR Bar |
|---|---|---|---|---|
 |
8h | +11.0% | +0.0100% | |
 |
1h | +11.0% | +0.0013% | |
 |
1h | +10.5% | +0.0012% | |
 |
1h | +8.7% | +0.0010% | |
 |
8h | +5.5% | +0.0050% | |
 |
8h | +3.7% | +0.0034% | |
 |
8h | +1.1% | +0.0010% | |
 |
8h | +1.0% | +0.0009% | |
 |
8h | +0.7% | +0.0006% | |
 |
8h | +0.1% | +0.0001% | |
 |
8h | -1.3% | -0.0012% | |
 |
1h | -3.5% | -0.0004% | |
 |
8h | -3.6% | -0.0033% | |
 |
1h | -5.3% | -0.0006% | |
 |
8h | -6.3% | -0.0058% |
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Bitcoin funding rates are periodic payments between long and short traders that help keep perpetual futures close to the underlying BTC price. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. Because each exchange has its own order flow and positioning, the BTC funding rate can differ significantly across venues at the same time.
The table above compares BTC funding rates across the exchanges we track, while the historical chart shows funding rate history over time. Rates from different settlement intervals are normalized to APR, making an hourly BTC perpetual funding rate directly comparable with an 8-hour rate from another exchange. The aggregated rate is weighted by open interest so that larger BTC markets have more influence on the overall reading.
Looking at the current BTC perpetual funding rate across exchanges can help show where positioning is most one-sided and where the cost of holding a perpetual position is highest or lowest. It can also highlight differences between CEX and DEX markets that are less obvious from price alone.
Bitcoin funding rate is a periodic payment exchanged between long and short traders in BTC perpetual futures. It helps keep the perpetual contract price close to the Bitcoin spot price without requiring the contract to expire.
Each exchange has different traders, liquidity and positioning. If one venue has much stronger demand for leveraged longs, its funding rate can be higher than on another exchange even when both markets track the same Bitcoin price.
A positive rate generally means longs pay shorts, while a negative rate means shorts pay longs. Large positive or negative readings can indicate that positioning has become heavily skewed to one side.
The aggregated rate weights each exchange by its BTC open interest. An exchange with a larger amount of open positions therefore contributes more to the combined reading than a smaller market.
Exchanges use different funding intervals, including hourly and 8-hour schedules. We annualize each perpetual funding rate so the rates can be compared on the same basis. APR is a normalized comparison metric rather than the amount charged in a single funding interval.
Funding rate history shows how the cost and direction of perpetual positioning have changed over time. Extended periods of strongly positive or negative funding can help identify persistent imbalances between long and short demand.