ToolsPerpetualsFunding Fee Scanner
What will I pay to keep this open?
Estimate who pays the holding fee and how much it costs.
New to this? Read a short explanation
What is the funding rate
A perp's price drifts away from the real price all day. Exchanges fix that with a small funding rate: every few hours, one side of every open position pays the other. When traders are crowded long, longs pay shorts. When crowded short, shorts pay longs.
If you go long spot + short perp on the same coin in equal size, most of the price move on one side is offset by the other. With price exposure largely hedged, funding becomes the main source of return. The rate can change or reverse while the trade is open, and execution, liquidation and venue risk all remain. That is called a carry trade.
This table shows which coins pay the most right now, turned into a yearly rate, on both exchanges. Pick a row and the calculator below estimates what you would keep after fees.
Step 1. Pick a coin
Click any row to load its rate into the calculator. The yearly rate is just the rate as it stands now, repeated for a year. It rarely holds for a year.
Reading the current rates.
Step 2. Size the carry trade
How much to put in, how much borrowed size on the perp, and for how long. The calculator takes off fees on both sides and shows the yearly return on all the money you tie up.
Pick a row from the scanner above to start sizing.
Money into the coin, in dollars
What you would put into buying the coin. The perp short is sized to match it, so most of the price move on one side is offset by the other.
Perp leverage, 3x
More borrowed size ties up less of your money and leaves the short less room before it is closed out.
How long you would hold it, in days
Funding adds up every payment. The fees are paid once to get in and once to get out, so a longer hold spreads them thinner.
What can go wrong
The rate flips The rate changes every payment. Longs paying shorts can turn into the opposite within hours if the mood changes.
The price runs up Your coins cover the rise. The perp short can still be closed out, though, if you borrowed too much against it.
Moving your coins Some exchanges charge to withdraw, or limit how fast you can move between wallets. Size it with money you can leave where it is.
How this tool works
How to read this
- 01
Funding is the fee longs and shorts pay each other to keep the perp near the real price. Positive means longs pay.
- 02
The yearly rate turns a tiny fee every few hours into a number you can compare with a loan.
- 03
The carry line shows what holding both sides would earn after round trip fees. When it is small, the crowd is calm.
Live from Binance and Hyperliquid, refreshed every thirty seconds while the page is open. Educational only.
How the calculation works
- 01Yearly rate = rate per period times periods per year (24 divided by the interval, times 365).
- 02Carry = notional times rate times the periods in your hold, minus round trip fees on the spot leg and the perp leg.
Data sources and update times
- Binance Futures
- Funding rate and the contract's own funding interval
- Cached 10 seconds, reloads every 30 seconds while open
- Hyperliquid
- Funding on the main and builder venues, predicted next rates for Bybit
- Cached 10 seconds, reloads every 30 seconds while open