BTC/USDT funding rate history across exchanges
Daily average funding for BTC perpetuals, annualised, per venue. Above the zero line longs pay shorts; below it, the reverse. The gap between the lines is the cross-venue carry available that day.
| Exchange | Current rate | Annualised | Interval |
|---|---|---|---|
| Binance | 0.0071% | 7.73% | 8h |
| Bybit | 0.0070% | 7.67% | 8h |
| OKX | 0.0035% | 3.82% | 8h |
Daily average, annualised
Day by day
| Date | Binance | Bybit | OKX |
|---|---|---|---|
| 2026-08-30 | 9.25% | 6.55% | 4.73% |
| 2026-08-29 | 10.95% | 6.93% | 7.73% |
| 2026-08-28 | 8.21% | 5.39% | 8.39% |
| 2026-08-27 | 7.64% | 3.69% | 2.99% |
| 2026-08-26 | 7.57% | 2.53% | 7.55% |
| 2026-08-25 | 9.42% | 6.18% | 8.33% |
| 2026-08-24 | 10.95% | 10.95% | 10.95% |
| 2026-08-23 | 10.95% | 10.95% | 10.95% |
| 2026-08-22 | 10.95% | 10.95% | 10.95% |
| 2026-08-21 | 7.58% | 7.82% | 7.02% |
| 2026-08-20 | 10.61% | 6.47% | 9.45% |
| 2026-08-19 | 5.63% | 4.78% | 7.36% |
| 2026-08-18 | 5.05% | 3.01% | 1.99% |
| 2026-08-17 | 7.36% | 4.48% | 5.69% |
| 2026-08-16 | 2.85% | 2.64% | 5.93% |
| 2026-08-15 | 6.80% | 5.84% | 8.39% |
| 2026-08-14 | 5.54% | 2.38% | 10.31% |
| 2026-08-13 | 7.90% | 5.39% | 8.21% |
| 2026-08-12 | 9.19% | 5.06% | 7.47% |
| 2026-08-11 | 4.58% | 3.89% | 10.95% |
| 2026-08-10 | 7.47% | 6.95% | 8.99% |
| 2026-08-09 | 6.62% | 2.99% | 2.35% |
| 2026-08-08 | 6.12% | 2.62% | 3.59% |
| 2026-08-07 | 4.26% | 1.45% | 5.00% |
| 2026-08-06 | 5.54% | 1.37% | 6.99% |
| 2026-08-05 | 1.96% | 4.83% | 2.57% |
| 2026-08-04 | 6.21% | 7.63% | 6.70% |
| 2026-08-03 | 6.88% | 3.62% | 4.08% |
| 2026-08-02 | 7.73% | 4.25% | 2.09% |
| 2026-08-01 | 3.95% | 1.49% | 2.30% |
| 2026-07-31 | 9.15% | 3.81% | 8.41% |
The spread is gross: it excludes trading fees on both legs, slippage, and the margin each leg ties up. Realisable carry is lower, and funding can flip at any settlement.
Data comes from each venue's public API. The settlement interval is inferred from historical timestamps rather than assumed.
Positioning
Funding is the price of crowding; open interest and the long/short ratio are the crowding itself. Read together they show whether a high rate reflects positioning genuinely piling up on one side, or just a transient basis.
| Exchange | Open interest | 24h change | Long/short accounts |
|---|---|---|---|
| Binance | 8,536,121,140 USDT | 1.6% | 1.08 |
| Bybit | 49,435.04 BTC | -0.1% | not reported |
| OKX | 2,906,615,577 USDT | -0.1% | 1.20 |
The change is measured 24 hours back from the most recent observation. With less than 24 hours of history no change is shown, rather than comparing against whatever the oldest point happens to be.
Rising open interest means new money entering; falling means positions closing. High funding with open interest still climbing usually means one-sided positioning is still accumulating. High funding with open interest falling often means the squeeze has already started. A long/short ratio above 1 means more accounts are long.
Frequently asked
How is the annualised figure calculated?
The rate for one period, multiplied by the number of settlements per day, multiplied by 365. The interval varies by venue and by symbol — eight hours is common but four and one also occur — so it is inferred here from historical settlement timestamps rather than assumed to be eight, which would otherwise distort every annualised figure.
Is the cross-venue spread actually capturable?
In principle, shorting the high-funding venue and going long the low one earns the difference with no directional exposure. In practice it costs fees on both legs, ties up margin on both sides, and carries liquidation and rate-reversal risk. The figures shown are gross spreads, not net returns.