Free research tool
Funding Rate Calculator
Work out what a perpetual futures position costs to hold. Enter the rate per payment, the venue's actual schedule and your holding time to see funding paid or received after entry and exit fees.
Calculate funding cost
Your scenario
$13.00 net cost
- Funding payments in your holding window
- 3
- Funding paid
- $3.00
- Entry and exit trading fees
- $10.00
- Net cost (negative means received)
- $13.00
- Simple annualized rate (positive = longs pay)
- 10.95%
Constant position value and funding rate at each entered payment. Positive rates mean longs pay shorts; negative rates reverse this. The annualized figure extends this one rate arithmetically and is not a yield forecast. Price P&L, margin, liquidation and changing rates are excluded.
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Compare the spot books for a hedge
If you are investigating a spot–perpetual hedge, compare the public Bitcoin spot quotes and source times in Vultax. The funding rate is supplied by you; the book view helps inspect the spot leg's spread and depth.
Worked example
A $10,000 long held for 24 hours, with 0.01% funding every eight hours and the first payment in eight hours, pays three $1 funding payments. Entry and exit at 5 bps each add $10: the scenario costs $13 before price changes.
Funding cost = position value × (rate % ÷ 100) × payment count × side sign. Net cost = funding cost + position value × (entry bps + exit bps) ÷ 10,000.
Funding rate, funding fee and margin are different
The rate is the percentage applied at a payment. The fee is that rate multiplied by the position's notional value. Leverage changes the margin needed for the position; it does not turn a $10,000 position into a $1,000 funding base just because the trader posted $1,000 of margin.
Rates can change at each settlement. This calculator holds the entered rate and position value constant so you can compare a scenario. Use the venue's recorded payments to reconcile an actual account.
Count payments before comparing a hedge
A holding period shorter than one interval can still cross a funding timestamp. Time until the next payment matters as much as the interval. The tool includes a payment at the end of the window if the position is held through that boundary.
For a spot–perpetual or cross-venue hedge, funding is one cost. Price basis, trading fees, depth, borrow costs and the ability to close both legs also matter. Compare the books before relying on a displayed rate.
Questions about this calculation
- Does positive funding mean a long pays?
- Under the standard convention used here, yes: longs pay shorts when the rate is positive, and shorts pay longs when it is negative. Check the venue's contract rules and payment history.
- Is the annualized funding rate APR or APY?
- It is simple annualization, like an APR calculation, not compounded APY. The entered rate is multiplied by the number of intervals in 365 days. It assumes that rate persists, so it is a comparison figure rather than a forecast of return.