BTC · perps

Funding rates

As of —
Perpetual-swap funding across the venues we already cover for liquidations — positive rate means longs pay shorts (typical in a bull tape). Rates shown as 8-hour % plus simple annualized carry (×3×365). Deribit is coin-margined; the other three are USDT linear. Not the same book as our options pages.
Cross-venue avg
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Spread (max−min)
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Positive venues
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Venues live
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Live funding · 8-hour rate
Venue8h rateAnnualizedBasisMarkNext funding
Funding history (% per 8h period)
Loading funding history…

How to read funding

Funding is the periodic payment between long and short perp holders that pulls the contract price toward spot. Sustained positive funding means longs are paying — often a crowded long book. Extreme negative funding can precede short squeezes. Cross-venue spread matters: arb desks fade divergences, but retail liq cascades often start on one venue first.

Which venues?

Deribit (coin-margined), Binance, OKX and Bybit (USDT linear) — same four we reference on liquidations. Delta India options are separate; no perp funding row here.

Annualized column?

Simple extrapolation: 8h rate × 3 payments/day × 365 days. Realized carry differs if funding flips sign intraday.

Relation to liquidations?

Heavy positive funding + rising OI often means levered longs are stacked — see liquidations for when margin fails. Options gamma is a separate channel on gamma exposure.