Funding rate calculator
Funding is charged on the size of the position, not on the money you put up. This works out what that means over a holding period you choose.
Position and rate
perpetualsReading the result: why notional and not margin
Why is funding charged on the position and not on my margin?
Because funding exists to tether the contract price to spot, and the thing being tethered is the size of the exposure, not the size of the deposit behind it.
This is the single most useful thing to understand about funding, and the calculator is built around making it visible. Change the leverage field and watch the currency amount stay the same while the share-of-margin figure moves. At 10×, a rate that costs 0.1% of the position over three days costs 1% of your money. At 50× the same rate costs 5%.
Nothing about the rate changed. Only the amount you put up did.
How many times do I actually pay?
Once per settlement stamp that passes while your position is open — if you close before the stamp, you pay nothing for that interval.
Funding is not accrued continuously. It is snapshot-based: whoever holds the position at the settlement moment pays or receives, in full. Holding for seven hours and fifty minutes across no stamp costs nothing. Holding for ten minutes that happen to straddle one costs a full interval.
The calculator rounds down to whole settlements crossed, which is the honest reading of how it works. It cannot know where your entry sits relative to the next stamp, so treat the count as approximate by plus or minus one.
What if the rate is negative?
Then the direction reverses: shorts pay longs, and if you are on the receiving side the figure shown is money coming to you rather than leaving.
Enter the rate with its sign as the contract page shows it. The tool flips the label rather than hiding the sign, because "you are being paid to hold this" is a materially different situation from "this is costing you", and a calculator that always shows a cost would be lying about half the cases.
Persistently negative funding tells you something about how the market is positioned, and it is worth reading as information rather than as free money. The longer piece on funding covers what it usually means.
Why show an annualised figure?
Because a per-eight-hour number is hard to have intuitions about, and the annualised version makes the scale obvious.
A rate of 0.01% every eight hours looks like rounding error. Annualised it is roughly 11%, which reads very differently. That is not a forecast — funding rates move constantly and no rate persists for a year — it is a unit conversion, offered so the number can be compared against other things you know the cost of.
This assumes a constant rate and a constant position size, and real funding does neither. It also ignores trading fees on entry and exit, and it does not model the profit or loss on the position itself. It answers one narrow question — what does carry cost at this rate — and should not be read as a projection of what the trade will do.
Funding is the small cost. The large one is the position: a leveraged perpetual can be liquidated, and liquidation means losing 100% of the margin behind it. At the leverage levels these interfaces offer by default, an ordinary day’s move is enough. Most retail accounts trading leveraged crypto lose money over time. This calculator exists to price one line item, not to suggest the trade is worth taking.