Funding is rent on your position
A leveraged perp is not free to hold — funding is a recurring toll on the full notional and fees bracket every trade. This tool turns both into a single dollar cost and the exact price move needed to overcome it. Annualise the funding side on the funding rate APR calculator.
What keeping the position open costs per day
An open leveraged position runs a daily meter even when price sleeps: funding (perps: rate × position × 3 per day), borrow interest (margin: hourly rate × 24), and the opportunity cost of locked collateral. Totaling it per day — then per week — converts "I'll just hold" into a priced decision.
Example ledger: $5,000 perp long at 15x ($333 margin), 0.012%/8h funding = $1.80/day, or 0.54% of margin daily. Two weeks of sideways costs 7.6% of margin — the position must eventually move +0.5% just to cover the wait, and that's before the exit fee. Time literally is money against the position; the meter defines your maximum patience.
The comparison worth running: holding cost versus re-entry cost. Closing and re-entering later costs the round-trip fees and spread (~0.15–0.3%); holding two more weeks costs 5–8% of margin at typical rates. For any thesis measured in weeks, closing and re-entering is routinely five times cheaper than paying the perp meter — the "lazy hold" is the expensive option dressed as the passive one.