Annualised with each coin's real settlement interval
A perpetual futures contract never expires, so nothing forces its price back to spot. Funding is the mechanism that does it: at fixed intervals, one side pays the other in proportion to the gap between the perpetual and the index. When the perpetual trades above spot the rate is positive and longs pay shorts; when it trades below, shorts pay longs. It is not a fee the exchange collects — it moves between traders.
The number shown on an exchange is per settlement, which makes it look small. Annualising is the honest way to see its size, and that is where most funding tables go wrong: they multiply by three settlements a day for every symbol. Binance does not run every contract on an 8-hour schedule — a large share settle every 4 hours, and a handful every hour. Annualising one of those as if it were 8-hourly reports exactly half the real figure. This page reads each symbol's actual interval and uses it.
Size alone still does not tell you whether a rate is unusual, because different coins live at different baselines. So selecting a row also shows where the current rate sits against that coin's own past settlements. A rate in the 95th percentile for its own history is informative; the same number in the middle of its usual range is not.
⚠️ Not investment advice. Funding rates change every settlement and only the next one is fixed; annualised figures assume a rate that will not hold. Fees, borrow costs and slippage are excluded throughout. All trading decisions and risks are your own.
Perpetual futures never expire, so nothing naturally pulls their price back to spot. Funding does it: at fixed intervals one side pays the other in proportion to the gap between the perpetual and the index price. A positive rate means longs pay shorts, a negative rate means shorts pay longs. The exchange does not keep it — it moves between traders.
Because most tables assume every contract settles three times a day. Binance runs a large share of its USDT perpetuals on a 4-hour schedule and a few on a 1-hour schedule, so the assumption is wrong for more than half of them. A 4-hour symbol annualised as if it were 8-hourly comes out at exactly half its real rate. This page reads each symbol’s actual interval and uses that.
No. Only the next settlement is fixed; everything after it moves with the market, and the most extreme rates are usually the ones that revert fastest. The annualised column exists to make the size of a small-looking number legible, not to project a year of income.
That is the standard funding arbitrage, and it is not free. Fees apply on both legs at entry and exit, the rate can flip before you unwind, and shorting spot to hedge requires borrowing — the borrow cost is usually highest on exactly the coins whose funding is extreme, for the same underlying reason.
Only by comparing it to that coin’s own history, since baselines differ widely between symbols. Selecting a row shows the percentile of the current rate against its past settlements, which is a more meaningful signal than any absolute threshold.
They describe positioning, not direction. A strongly positive rate says leveraged longs are crowded and paying to stay in, which is information about who is exposed rather than about where the price goes next. This page does not turn funding into a directional signal.