Perp Funding Cost Calculator
Leverage has a rent. Work out what your position pays — or earns — every eight hours, what it adds up to over the hold, and how big a move you need just to cover it.
How this is calculated
Perpetual futures have no expiry, so exchanges use funding payments to keep the contract tied to spot. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. The payment is charged on the full position value, typically every eight hours.
daily cost = position size × (APR ÷ 100) ÷ 365 · charged in three payments per day
Because the fee is charged on notional but paid out of your margin, leverage multiplies its bite: at 10× leverage a rate that costs 1% of the position per month costs 10% of the margin you actually posted. That is why a crowded, expensive long side can bleed an account even when price goes nowhere.
Funding rates — questions answered
What is a perpetual funding rate?
A periodic payment between long and short holders that keeps a perpetual contract trading near spot. It is not a fee paid to the exchange: traders on one side pay traders on the other, usually every eight hours.
Who pays whom?
A positive rate means longs pay shorts, which usually happens when the crowd is leveraged long and the perp trades above spot. A negative rate flips it: shorts pay longs. Persistently negative funding is often read as crowded shorts and squeeze fuel.
Is a high funding rate bullish or bearish?
By itself it is neither — it is a crowding measure. Extended, very positive funding says leveraged longs are paying up to stay in, which tends to precede long liquidation cascades; deeply negative funding says the opposite. Read it next to open interest and positioning rather than alone.
Does funding change my liquidation price?
Indirectly, yes. Funding is deducted from your margin balance, so on most venues a position paying funding drifts slowly toward liquidation even if price does not move. Long holds at high rates are where this matters most.
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Watch the crowded side, not just the price
Funding, open interest and whale positioning together tell you when one side is over-leveraged. WhaleRoom tracks all three and pings you on Telegram when the picture flips.