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Bitcoin (BTC) Funding Rate
Bitcoin is the reference market for perpetual futures, so its funding rate is the benchmark other coins are judged against.
Live cross-venue comparison — 2026-10-20T09:30:59.591Z UTC · 10 venues
As of 2026-10-20 09:30 UTC, BTC funding ranged from -0.0072% to 0.0136% per 8h across 9 venues (median 0.0048%).
Positive = longs pay shorts (red). Negative = shorts pay longs (green).
Bitcoin (BTC) funding summary
Bitcoin (BTC) is listed on 10 venues in the latest snapshot (2026-10-20T09:30:59.591Z UTC). 8 of 9 venues positive (longs pay), 1 negative (shorts pay).
- Venues listing
- 109 used in statistics
- Median 8h rate
- 0.0048%5.2560% APR
- Highest 8h rate
- 0.0136%dYdX · 14.8567% APR
- Lowest 8h rate
- -0.0072%Bybit · -7.8840% APR
- Max spread (8h)
- 0.0208%22.7407% APR-equivalent
- Positive / negative
- 8 / 1venues
Statistics use one value per venue (the median if a venue lists several contracts), skip closed markets, GMX (pool-skew funding with a separate borrowing fee) and LeverUp markets routed to Hyperliquid (they would double count Hyperliquid). Every row is still shown in the table below.
Bitcoin (BTC) funding rates by venue
Every BTC market in the latest snapshot, highest 8h rate first. Rate per interval is the amount paid at each settlement; 1h, 8h and APR are normalised so venues with different intervals compare directly. See the Hyperliquid funding rates page for core and HIP-3 markets.
| Venue | Venue symbol | Rate / interval | 1h | 8h | APR | Interval | Next funding | Mark price | Market open |
|---|---|---|---|---|---|---|---|---|---|
| dYdX | BTC-USD | 0.0017% | 0.0017% | 0.0136% | 14.8567% | 1h | in 19m | $81,340.5 | open |
| GMX | BTC/USD [WBTC.b-USDC] | 0.0017% | 0.0017% | 0.0133% | 14.5988% | 1h | — | — | open |
| Hyperliquid | BTC | 0.0013% | 0.0013% | 0.0100% | 10.9500% | 1h | in 19m | $81,421 | open |
| edgeX | BTCUSDC | 0.0050% | 0.0013% | 0.0100% | 10.9500% | 4h | — | — | open |
| Paradex | BTC-USD-PERP | 0.0049% | 0.0006% | 0.0049% | 5.3612% | 8h | — | — | open |
| Lighter | BTC | 0.0006% | 0.0006% | 0.0048% | 5.2560% | 1h | — | — | open |
| Aster | BTCUSDT | 0.0037% | 0.0005% | 0.0037% | 4.0537% | 8h | in 6h | — | open |
| Binance | BTC | 0.0034% | 0.0004% | 0.0034% | 3.7471% | 8h | in 6h | — | open |
| OKX | BTC-USDT-SWAP | 0.0019% | 0.0002% | 0.0019% | 2.0538% | 8h | in 14h | — | open |
| Aster | BTCUSD | 0.0000% | 0.0000% | 0.0000% | 0.0000% | 2h | in 19m | — | open |
| Bybit | BTC | -0.0072% | -0.0009% | -0.0072% | -7.8840% | 8h | in 6h | — | open |
What does Bitcoin (BTC) funding cost?
Worked example for a $10,000 long held for 1 day and 7 days, using each rate from the table above as if it stayed constant (it will not). Funding is charged on notional, not margin.
| Scenario | 8h rate | 1 day | 7 days |
|---|---|---|---|
| Median (9 venues) | 0.0048% | $1.44 paid | $10.08 paid |
| Highest: dYdX | 0.0136% | $4.07 paid | $28.49 paid |
| Lowest: Bybit | -0.0072% | $2.16 received | $15.12 received |
Cross-venue spread idea
In principle a trader could go long where funding is lowest (Bybit) and short where it is highest (dYdX) and collect the difference. At the current rates, $10,000 on each side would be a net $6.23 received per day before costs.
Caveat: this is an illustration, not advice. Real results depend on trading fees, price basis between the two contracts, different settlement intervals (a rate can change before you are paid), margin on both venues, liquidation risk on either leg, and funding changing sign. The funding rate arbitrage scanner ranks these gaps across every asset and explains the risks.
Try your own size and hold time in the funding rate calculator with BTC preselected. To estimate liquidation price and margin for the same position, use the Crypto Leverage Calculator.
Bitcoin (BTC) funding history
Rolling hourly summary of the cross-venue 8h rate (median across venues, plus the lowest and highest venue reading in each sample). History is still building (3 hourly samples since 2026-10-20 07:00 UTC), so the 24h and 7d rows cover less than their full window.
| Window | Samples | Avg median 8h | Lowest venue 8h | Highest venue 8h | Avg median APR |
|---|---|---|---|---|---|
| Last 24h | 3 | 0.0076% | -0.0066% | 0.0191% | 8.2952% |
| Last 7d | 3 | 0.0076% | -0.0066% | 0.0191% | 8.2952% |
What drives Bitcoin (BTC) funding rates
Bitcoin perps are the deepest and most arbitraged contracts in crypto. Because so much capital sits on both sides, funding on BTC tends to be tighter across venues than on almost any other coin, and it often hugs the small interest-rate component that many exchanges build into the formula (commonly 0.01% per 8 hours) rather than swinging wildly. When BTC funding moves well away from that baseline, it is usually a sign that leveraged traders are crowded on one side.
The biggest structural driver is the basis trade. Funds that hold spot Bitcoin, spot ETF shares or CME futures can short a perpetual against it and collect funding when it is positive. That demand caps how high positive funding can stay: when the annualised rate gets attractive, basis traders sell perps and push it back down. Flows into and out of spot Bitcoin ETFs and changes in the CME futures basis therefore feed into perp funding indirectly, because they change how much capital is available to run that carry.
Directional sentiment is the other driver. In strong uptrends, retail and leveraged longs pile in and funding stays positive for long stretches; in sharp sell-offs it can flip negative as shorts become the crowded side and pay longs. Liquidation cascades can produce brief spikes in either direction that fade within a few settlement periods.
When comparing the table below, remember that venues settle at different intervals: Hyperliquid and dYdX settle hourly, several centralised venues settle every 4 or 8 hours, and some on-chain venues accrue continuously. The page converts everything to an hourly and 8-hour equivalent so you can compare like with like.
Where BTC is listed
Bitcoin is listed on essentially every perp venue we track: centralised exchanges, on-chain order-book venues such as Hyperliquid, dYdX, Lighter and Paradex, and pool-based venues such as GMX. Wallet-based front ends that route BTC to Hyperliquid inherit Hyperliquid's funding rather than adding their own.
What to watch
What to watch: a funding rate that stays far above baseline while open interest keeps climbing signals crowded longs and rising liquidation risk. A sudden flip to negative after a sell-off often marks a shorts-heavy market. Compare the median with the highest and lowest venue to see whether the move is market-wide or confined to one book.
Bitcoin (BTC) funding rate FAQ
What is the current BTC funding rate?
At 2026-10-20T09:30:59.591Z UTC the median BTC funding rate across 9 venues is 0.0048% per 8 hours (5.2560% APR), ranging from -0.0072% on Bybit to 0.0136% on dYdX. Positive means longs pay shorts.
Why is Bitcoin funding usually positive?
Perpetual traders skew long more often than short, and many exchanges include a small positive interest-rate component, so BTC funding is more often slightly positive than negative. Longs pay shorts when it is positive.
What is a normal Bitcoin funding rate?
On 8-hour venues a quiet market commonly sits near 0.01% per 8 hours, which is roughly 11% annualised. Readings far above or below that indicate crowded positioning on one side.
Can I earn Bitcoin funding without taking price risk?
A cash-and-carry basis trade holds spot and shorts the perpetual to collect positive funding, but it carries exchange, margin, basis and fee risks and funding can turn negative.