01CURRENT WINDOW
Price up · OI up
Trend expansionNew exposure is entering while price rises. The move has sponsorship, but high funding can still make it fragile.
LIVE BTC PERPETUALS · BINANCE FUTURES
Bitcoin funding rate today, with the leverage context that makes it useful
A funding rate is not a trade signal by itself. Compare the current 8-hour carry with price, open interest and history to distinguish orderly demand from crowded leverage.
✓Updates every 30 seconds✓Historical windows to 1 year✓UTC and JST timestamps
CURRENT 8H FUNDING ↓FALLBACK
CURRENT 8H FUNDING
API refreshed: Aug 22, 00:00 UTC / Aug 22, 09:00 JSTLatest funding observation: Aug 22, 00:00 UTC
NEXT SETTLEMENT BASIS+0.0068%Orderly long bias
SIMPLE ANNUALIZED RATE+7.45%if the rate stayed constant
7-DAY CARRY ESTIMATE+0.1428%+$1,428 / $1M
BTC OPEN INTEREST$6.1B+4.80% / 7D
PERIOD PRICE RETURN+7.20%BTC $64,124
Funding-rate history
Hover the chart for the observed rate and settlement timestamp. Use the controls to move through prior market windows.
+0.0068%+0.0000%+0.0030%
Aug 19, 00:00Aug 19, 16:00Aug 20, 16:00Aug 21, 08:00Aug 22, 00:00
Current windowAug 20, 04:00 – Aug 22, 00:00 UTC
Source: Binance USDⓈ-M Futures public API0 / 14 feeds · Aug 22, 00:00 UTC
CURRENT READING
What the funding rate says now
The rate measures the transfer between perpetual-futures longs and shorts. The interpretation changes with its sign, magnitude and the direction of open interest.
+0.0068%Orderly long bias
Longs are paying a modest premium. This is usually constructive when price and open interest rise without a sharp acceleration in the rate.
−0.040%0.000%+0.040%
PRICE × OPEN INTEREST
Separate new risk from positions being closed
Every futures contract has a long and a short. Open interest becomes informative only when it is read beside price over the same window.
NORMALIZED PERIOD PATHBTC +7.20% · OI +4.80%
BTC priceOpen interest
02
Price up · OI down
Short coveringPrice rises while contracts close. Momentum can be sharp, yet may fade without fresh spot or futures demand.
03
Price down · OI up
New short buildExposure expands into falling price. Bearish conviction is rising along with the risk of a squeeze.
04
Price down · OI down
Long deleveragingRisk is being removed as price falls. Forced selling may dominate first, then exhaust as leverage clears.
METHODOLOGY
Turn a carry quote into an investable risk check
The calculations are deliberately transparent. They estimate carry under a constant-rate assumption and describe positioning; they do not forecast returns.
Read the sign
Positive funding generally means longs pay shorts; negative funding means shorts pay longs. The payment helps anchor the perpetual contract to spot.
Funding payment ≈ position notional × 8h funding rateScale the holding period
Three 8-hour settlements occur per day on the reference venue. The 7-day estimate assumes the latest rate persists unchanged.
7-day carry ≈ notional × rate × 3 × 7Confirm with leverage
Compare price return and open-interest change over the same selected period before classifying the move.
OI change = latest OI ÷ starting OI − 1Practical reading ranges
| 8-hour rate | Typical reading | What to verify next |
|---|---|---|
| Above +0.020% | Elevated long carry | Check whether OI and liquidations are accelerating faster than spot demand. |
| +0.005% to +0.020% | Modest long bias | Look for price and OI confirmation without a rapidly rising premium. |
| −0.005% to +0.005% | Balanced | Let price structure, volume and OI lead the interpretation. |
| −0.020% to −0.005% | Modest short bias | Test whether weak price confirms the shorts or spot demand is absorbing them. |
| Below −0.020% | Elevated short carry | Watch for reclaim levels and taker buying that can trigger a squeeze. |
FAQ
Bitcoin funding-rate FAQ
What is the Bitcoin funding rate?+
It is a periodic transfer between long and short holders of a perpetual futures contract. Its purpose is to keep the perpetual price close to the underlying spot index without an expiry date.
Is a positive funding rate bullish or bearish?+
Neither by itself. Slightly positive funding can accompany healthy demand. A rapidly rising positive rate with expanding leverage can instead identify crowded longs and worsening downside asymmetry.
How is the annualized number calculated?+
This page multiplies the current 8-hour rate by three settlements per day and 365 days. It is a simple extrapolation, not a realized return, because future rates change.
Why compare funding with open interest?+
Funding describes the price of directional exposure, while open interest describes how much exposure remains open. Together with price, they help distinguish new positioning from contracts being closed.
CONTINUE THE ANALYSIS
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