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.
Computing…
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.