PERPETUAL FUTURES · FREE CALCULATOR
Bitcoin funding rate calculator
Estimate what a perpetual position costs to hold. Enter the rate per settlement, when the next payment occurs and your planned holding time.
Estimated cash flow
- Funding settlements
- 3
- Funding per settlement
- -$2.00
- Total funding cash flow
- -$6.00
- Entry + exit fees
- -$20.00
Positive = cash received. Negative = cash paid. Net cash flow excludes gains or losses from price changes.
A short needs a fall; a long needs a rise. Zero means modeled funding receipts already cover fees—not that the trade is risk-free.
Rate × settlements per day × 365. A constant-rate comparison, not an expected return or APY.
Compare holding periods
Same rate, notional and time to next settlement in every row; includes a separate entry and exit in each scenario.
| Holding time | Funding settlements | Total funding cash flow | Net cash flow before price P/L |
|---|---|---|---|
| 1 hours | 0 | -$0.00 | -$20.00 |
| 8 hours | 1 | -$2.00 | -$22.00 |
| 24 hours | 3 | -$6.00 | -$26.00 |
| 168 hours | 21 | -$42.00 | -$62.00 |
Why holding time alone can give the wrong funding estimate
The model counts scheduled payments while the position is open. With the next payment in 4 hours and an 8-hour interval, a 24-hour hold includes payments at hours 4, 12 and 20. A 3-hour hold includes none. A payment exactly at the chosen horizon is included, assuming you exit immediately afterward. Verify the venue's actual settlement treatment near that boundary.
Worked example: a $20,000 long held for one day
Using the illustrative assumptions above, three payments at 0.01% cost $6. Entry and exit at 0.05% each add $20. Total modeled cost is $26, so a 0.13% favorable price move covers these costs before slippage. A short receives the same $6 in funding but still pays $20 in fees, leaving a $14 cost. Receiving funding does not automatically make the position profitable.
Transparent formulas
Funding cash flow = notional × rate / 100 × payment count × side signRound-trip fees = notional × (entry fee + exit fee) / 100Cost-covering move (%) = max(0, fees − funding received) / notional × 100
What can change the real result
This models linear USD/USDT/USDC-margined perpetuals with constant position value and funding rate. It does not model inverse contracts, changing mark prices, tiered fees, rebates, slippage, liquidation or collateral risk. An interval can change by contract and venue. Check the live contract specification before applying the estimate.
Funding cost questions
Does leverage multiply funding fees again?+
No. If notional is already $20,000, funding is based on that value. Multiplying by leverage again would double-count exposure. If you start from $2,000 margin at 10× exposure, first convert it to $20,000 notional.
Can I compare a 1-hour rate with an 8-hour rate?+
Normalize the interval first. At a constant rate, 0.01% every hour is 0.24% per day; 0.01% every eight hours is 0.03% per day. This arithmetic comparison does not forecast future rates.
Why does a short sometimes have a net cost with positive funding?+
Funding receipts may be smaller than trading fees. In the worked example, the short receives $6 and pays $20 in fees. The remaining $14 must be covered by favorable price P/L, before other execution costs.
Are the displayed inputs live exchange quotes?+
No. They are editable hypothetical assumptions. Use the linked funding monitor and your venue's contract page to obtain the applicable rate, interval, next settlement and fee tier.
Sources and calculation scope
Structure Lens Research Desk · Updated
Put the estimate in market context
Check the applicable rate, understand what crowded funding means, then size the position against a defined loss budget.