Published
The major pairs: BTC, ETH, SOL, XRP, DOGE, BNB
Every 8 hours, longs pay shorts (or shorts pay longs) a funding payment calculated as: notional Γ rate. If the rate is positive, longs pay. If negative, shorts pay. Here's what the current rates cost in real dollars:
| Pair | Rate /8h | APR equivalent | $10k notional: /8h | /day | /week | Who pays |
|---|---|---|---|---|---|---|
| BTC | +0.0100% | +10.95% | $1.00 | $3.00 | $21.00 | Longs pay |
| ETH | +0.0056% | +6.13% | $0.56 | $1.68 | $11.76 | Longs pay |
| SOL | +0.0022% | +2.41% | $0.22 | $0.66 | $4.62 | Longs pay |
| XRP | +0.0084% | +9.20% | $0.84 | $2.52 | $17.64 | Longs pay |
| DOGE | +0.0099% | +10.84% | $0.99 | $2.97 | $20.79 | Longs pay |
| BNB | +0.0141% | +15.44% | $1.41 | $4.23 | $29.61 | Longs pay |
The weekly dollar cost at different position sizes
BTC rate: +0.0100%/8h. Dollar cost to hold a long one full week:
| Margin | Leverage | Notional | Funding/week | % of margin/week |
|---|---|---|---|---|
| $100 | 5Γ | $500 | $1.05 | 1.05% |
| $100 | 10Γ | $1,000 | $2.10 | 2.10% |
| $500 | 10Γ | $5,000 | $10.50 | 2.10% |
| $1,000 | 10Γ | $10,000 | $21.00 | 2.10% |
| $1,000 | 20Γ | $20,000 | $42.00 | 4.20% |
| $5,000 | 10Γ | $50,000 | $105.00 | 2.10% |
Leverage doesn't change the % of notional you pay β but it does change the % of your margin. At 20Γ, you're paying 4.2% of your margin per week in funding alone.
The outliers: pairs with extreme funding rates
While BTC sits at a fairly normal +0.01%/8h, some smaller pairs have rates that are genuinely alarming. These are all live Binance rates as of July 15, 2026:
| Pair | Rate /8h | APR equivalent | $10k notional /week | Who pays |
|---|---|---|---|---|
| VANRY | β0.4771% | β522% | $333/wk to longs | Shorts pay longs |
| QNTX | +0.3625% | +397% | $254/wk | Longs pay shorts |
| BOT | β0.3470% | β380% | $243/wk to longs | Shorts pay longs |
| KSTR | +0.3044% | +333% | $213/wk | Longs pay shorts |
| XBI | +0.2129% | +233% | $149/wk | Longs pay shorts |
| TLM | β0.1835% | β201% | $128/wk to longs | Shorts pay longs |
| WEN | +0.1796% | +197% | $126/wk | Longs pay shorts |
What these rates tell you about market sentiment
Funding rates reflect the demand imbalance between longs and shorts in perpetual markets. When the rate is positive, it means there are more longs than shorts β people are paying a premium to hold the upside bet. When negative, shorts are in the majority.
The current BTC rate of +0.0100% is mildly bullish β above the neutral baseline of 0.01% (which most exchanges set as the "fair" rate), but not excessively so. Rates above +0.05%/8h typically signal crowded longs and elevated liquidation risk if BTC dips.
For comparison, during BTC's November 2021 peak, funding rates regularly hit +0.15β0.30%/8h β that's 164β328% APR, entirely paid by long holders who wanted to stay in during the frenzy.
The funding arithmetic for swing traders
If you hold a position for multiple days, funding accumulates. A trade that looks good on paper can be significantly eroded by funding if the move is slow:
- BTC long, 10Γ leverage, held 7 days: β2.1% of margin in funding (at current 0.01%/8h rate)
- BTC long, 10Γ leverage, held 30 days: β9.0% of margin in funding
- BTC long, 10Γ leverage, held 90 days: β27% of margin in funding β at which point the position has lost more than a quarter of its margin to funding alone, even if BTC price is unchanged
This is why long-term leveraged positions in crypto are almost always losing propositions: funding eats the margin slowly but relentlessly.
Calculate your exact funding cost β Enter your position size, leverage and holding time to see the exact dollar drain on your position.