Longs pay shorts when the funding rate is positive and receive when it is negative. Turn a rate and a holding period into money, per day and annualized, and as a share of your margin.
10,000 USDT long, 0.01% every 8 hours, 30 days: 90 settlements, 90 USDT paid, 10.95% annualized — 4.5% of a 5x position’s 2,000 USDT margin.
Perpetual futures have no expiry date, so exchanges use periodic funding payments to keep the contract price close to the spot price. When the funding rate is positive, longs pay shorts; when it is negative, shorts pay longs. The payment passes between traders at each settlement and is based on position value. This calculator turns a rate, a settlement interval and a holding period into the money you pay or receive, per day, annualized and as a share of your margin.
Position value is the notional, quantity × price, not your margin. The rate is the per-settlement percentage the exchange displays. The interval is the number of hours between settlements (1, 2, 4 or 8 in the tool), and settlements = holding hours ÷ interval, rounded down. Leverage is used only to express the cost relative to margin: the same funding takes a bigger bite out of a smaller margin.
As of 7 October 2026, recorded Binance BTCUSDT funding averaged about 0.004568% per 8-hour settlement over the previous 30 days (90 settlements). Using 0.00457% for a 20,000 USDT long held 30 days at 4x: 90 settlements, funding = 20,000 × 0.00457% × 90 ≈ 82.26 USDT paid, about 2.74 USDT per day, annualized 0.00457% × 3 × 365 ≈ 5.00%, or about 1.65% of the 5,000 USDT margin. Adding up the 90 actual rates (0.411137% in total) gives about 82.23 USDT, close to the average-rate estimate, and a short of the same size would have received roughly that amount. Rates change every settlement: the latest Binance rate in that snapshot was −0.000743%, so longs were being paid about 0.15 USDT per settlement on 20,000 USDT.
Multiplying one current rate across a month assumes it will not change, but it can flip sign, as it did in this data. Check the interval as well: if a contract settles every 4 hours instead of every 8 at the same rate, the cost doubles, here to about 164.52 USDT over 30 days. The annualized figure is simply rate × settlements per year, not compounded, and is useful for comparison rather than as a forecast.
Funding is not included in the liquidation price calculator. Funding you pay comes out of margin and pulls the liquidation price closer to entry over a long hold. Funding is also charged on the notional at the moment of settlement, so if price moves a lot while you hold, the amount per settlement moves with it.
Reference only, not investment advice. Exchange rules (maintenance margin tiers, fee tiers, funding intervals) change; check your exchange before trading.