RISK Leveraged products can be liquidated fast and may result in the loss of your entire margin. Educational content only — not investment advice. Read the full risk disclosure →
K KipenO EXCHANGE REVIEWS // COMPARISONS // EDUCATION

Pillar 01

Funding rates, explained

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The funding rate is the periodic payment that anchors a perpetual contract's price to the market it tracks. Positive or negative, it quietly sets the cost of holding every leveraged position. This pillar covers how the payment works, how to annualize it, and how to read it without mistaking it for a price signal.

positive funding negative funding cost of carry 8h intervals annualized rate

Start here

// published guides first; rest in the roadmap
Funding 101

What the Funding Rate Actually Measures (and Why Every 8 Hours Matters)

The perpetual anchoring mechanism, payment direction, and how to annualize the cost.

 ~9 min Mechanics

Positive vs Negative Funding: Who Pays and Who Receives

Worked payments for longs and shorts under both rate regimes.

 ~8 min Framework

Funding Rate Arbitrage: Basis Trade and Cost of Carry

How spot-perp arbitrageurs use funding to capture risk-free yield — and the risks they still face.

 ~10 min Mechanics

Why Funding Rates Spike Before Big Expiries and Spot Events

Position crowding, rate caps and how exchanges clamp extreme payments.

 ~9 min Math

How to Annualize the Funding Rate (and Why It Beats Comparing Raw Numbers)

Convert 8-hour snapshots into APR so you can compare across exchanges and timeframes.

 ~8 min Guide

How to Compare Funding Rates Across Exchanges

Rate schedules, clamp levels and effective cost — the numbers that actually matter side by side.

 ~9 min
Matching tool Estimate funding payments per interval, day, month and year for any position: open the funding rate calculator →

Want to watch funding on a live order book?

Open an account only once you understand margin rules and funding intervals. Compare exchanges on maintenance-margin rates, not signup bonuses alone.

Sign Up on OKX — Earn Up to 100 USDT → Affiliate link Affiliate disclosure: this site contains affiliate/sponsored links to OKX. If you sign up through them, we may earn a commission at no extra cost to you. It never changes our risk warnings: perpetuals and leverage are high-risk products — positions can be liquidated and you may lose your entire margin.