Calculate how much funding you’ll pay or receive on a perpetual futures position over a custom time window. Useful for delta-neutral strategies, carry trades, and arb estimation.
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How to use this calculator
Enter the margin (collateral) you’ll post, the leverage you’ll use, your side (long/short), the exchange, the current funding rate (per funding window), and how long you plan to hold the position. The calculator returns your net funding paid or received, plus the APR/APY if the rate held constant for a year.
Funding rates quoted as a percentage per funding window (8 hours for most CEXes, 1 hour for Hyperliquid, variable for Kraken). For example, a 0.01% per 8h rate is approximately 0.03% per day, 1.095% per month, and 13.14% APR.
What is funding rate?
Funding is the periodic payment exchanged between long and short traders in a perpetual futures contract. It is the cost of carry for synthetic perpetual exposure. When funding is positive, longs pay shorts. When negative, shorts pay longs. The rate is set by the difference between the mark price and the index price, dampened by an interest rate component.
For current live rates, see the funding screener, the funding dashboard, or the per-exchange and per-coin pillar pages. For methodology, see the methodology page.
Delta-neutral strategies
Funding calculators are especially useful for delta-neutral strategies, where a trader holds equal long and short exposure on the same coin across two venues to capture the funding spread. For example, if Binance BTC funding is +0.01% and Bybit BTC funding is -0.005%, a trader can long Bybit and short Binance to earn 0.015% per 8h (~16.4% APR) without directional risk. Use this calculator to estimate the earnings on a given notional position size and holding period.
Carry trades
Carry traders bet that elevated funding will persist long enough to cover the notional cost of the position. For instance, when altcoin funding spikes during a hype cycle, opening a short can earn outsized yield — but only if the position is closed before the funding inverts or the coin squeezes. The calculator helps size the trade relative to the expected holding window.
Funding rate calculator formula
The funding rate is calculated as: Funding Rate = Interest Rate + Premium Index. The interest rate component is typically fixed at 0.01% per 8-hour interval on most exchanges. The premium index reflects the difference between the perpetual futures price and the spot price. When the futures price is above spot, the premium is positive and longs pay shorts. When futures trade below spot, the premium is negative and shorts pay longs. This calculator uses the published funding rate from each exchange to estimate your payment.
How to minimize funding fees
To reduce funding costs, traders can: (1) close positions before the funding timestamp and reopen after, (2) use delta-neutral strategies that collect funding instead of paying it, (3) trade on the exchange with the lowest funding rate for your asset, or (4) hold positions only during favorable funding periods. This calculator helps you estimate exactly how much you would pay or receive, so you can plan your entries and exits around funding timestamps.
Funding rate vs borrowing costs
In traditional finance, holding a leveraged position incurs borrowing costs. In crypto perpetual futures, the funding rate serves a similar purpose — it is the cost of holding leverage. However, unlike traditional borrowing, funding rates can be negative, meaning you get paid to hold a position. This calculator lets you compare funding costs across assets and exchanges to find the most efficient way to express your market view.
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