Q funding rate today: 2 exchanges
The Q funding rate on USDT-margined perpetuals at Binance, Bybit: per funding interval, normalized to 8 hours and annualized, plus how much was paid over the past 7 and 30 days. Snapshot -, refreshed every minute.
Right now: the highest Q rate is on Binance (+0.0056% per 8h), the lowest on Bybit (-0.0050%). Different sides pay on different exchanges. Combined 24h turnover across exchanges: $207.2M.
What the numbers say
- Exchanges disagree: longs pay on 1 of 2, shorts on 1. That disagreement is what funding rate arbitrage trades.
- Rates are within normal range: about 0.01% per 8 hours or less, no positioning imbalance.
- Widest spread: short on Binance, long on Bybit - 0.0107% per 8 hours. It would cover the fees for opening and closing both legs in 6.6 days if rates stay the same.
- On Binance the current rate looks like a spike: -0.46% was paid over the past 7 days, versus +0.12% at today's rate.
Rates by exchange
| Exchange | Rate per interval | Cap | Per 8h | Annualized | Next payment | Paid 7d | Paid 30d | 24h turnover |
|---|---|---|---|---|---|---|---|---|
| Binance | +0.0028% / 4h | ±2% | +0.0056% | +6.2% | - | -0.46% | +2.11% | $168M |
| Bybit | -0.0025% / 4h | ±2.5% | -0.0050% | -5.5% | - | -0.90% | +0.35% | $39M |
Positive: longs pay shorts. Negative: shorts pay longs. The cap is the maximum rate per interval on that exchange (intervals and caps by exchange). "-" in the paid columns means the coin has been listed for less than the period or its history is still being collected.
Who pays whom
Cost of holding a position
| Exchange | $1,000 long, 1 day | $1,000 short, 1 day | $10,000 long, 1 week (current rate) | $10,000 long, last week (actual) |
|---|---|---|---|---|
| Binance | -0.17 $ | +0.17 $ | -11.83 $ | +45.88 $ |
| Bybit | +0.15 $ | -0.15 $ | +10.57 $ | +90.35 $ |
Positive means you receive, negative means you pay. "Current rate" assumes the rate does not change; in practice it is recalculated every interval. "Actual" uses the real payments of the past 7 days. Trading fees are not included.
Q arbitrage pair
- Short on Binance, long on Bybit: a spread of 0.0107% per 8 hours, 11.7% annualized.
- Covers the fees for opening and closing both legs in 6.6 days if rates stay the same.
- Over the past 7 days this pair would have earned +0.44% of notional before fees, over 30 days +1.76%.
- All pairs and how to read them are in the funding arbitrage table, risks included.
More on Q
- Funding rate heatmap - Q next to other coins.
- Open interest screener - whether positions in Q are growing or shrinking.
- Liquidations - forced closes over the last 24 hours.
FAQ
What is the Q funding rate now?
Binance: +0.0028% per 4h; Bybit: -0.0025% per 4h. The table above refreshes every minute.
Who pays Q funding?
With a positive rate longs pay shorts; with a negative rate shorts pay longs. The money goes from one side of traders to the other, not to the exchange. Exchanges disagree: longs pay on 1 of 2, shorts on 1. That disagreement is what funding rate arbitrage trades.
Why are Q funding rates different on each exchange?
Each exchange computes the rate with its own formula and charges it on its own schedule (every 1, 2, 4 or 8 hours). Only values normalized to the same period can be compared - the "per 8h" column.
The page shows exchange data and arithmetic on it. It is not a trading signal or investment advice.