Total funding over the period
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Funding settles every 8h (00:00/08:00/16:00 UTC on most exchanges). Positive rate: longs pay shorts. Negative: shorts pay longs.
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How perpetual funding works
Perpetual futures have no expiry, so exchanges use a funding payment every 8 hours to keep the perp price near spot. When the rate is positive, longs pay shorts; when negative, shorts pay longs. The cost is notional × rate × (number of 8h periods). Small per settlement, but on big size or long holds it adds up — and it is the basis for delta-neutral funding strategies. Check your liquidation price and PnL too.