S funding rate today: 2 exchanges
The S funding rate on USDT-margined perpetuals at Binance, BingX: 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 S rate is on BingX (+0.0100% per 8h), the lowest on Binance (-0.0018%). Different sides pay on different exchanges. Combined 24h turnover across exchanges: $21M.
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 BingX, long on Binance - 0.0118% per 8 hours. It would cover the fees for opening and closing both legs in 5.7 days if rates stay the same.
- On BingX the current rate looks like a spike: +0.01% was paid over the past 7 days, versus +0.21% at today's rate.
Rates by exchange
| Exchange | Rate per interval | Cap | Per 8h | Annualized | Next payment | Paid 7d | Paid 30d | 24h turnover |
|---|---|---|---|---|---|---|---|---|
| Binance | -0.0009% / 4h | ±2% | -0.0018% | -1.9% | - | -0.10% | +0.11% | $14M |
| BingX | +0.0050% / 4h | ±2% | +0.0100% | +11.0% | - | +0.01% | +0.43% | $7M |
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 | +0.05 $ | -0.05 $ | +3.68 $ | +9.86 $ |
| BingX | -0.30 $ | +0.30 $ | -21.00 $ | -0.63 $ |
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.
S arbitrage pair
- Short on BingX, long on Binance: a spread of 0.0118% per 8 hours, 12.9% annualized.
- Covers the fees for opening and closing both legs in 5.7 days if rates stay the same.
- Over the past 7 days this pair would have earned +0.10% of notional before fees, over 30 days +0.32%.
- All pairs and how to read them are in the funding arbitrage table, risks included.
More on S
- Funding rate heatmap - S next to other coins.
- Open interest screener - whether positions in S are growing or shrinking.
- Liquidations - forced closes over the last 24 hours.
FAQ
What is the S funding rate now?
Binance: -0.0009% per 4h; BingX: +0.0050% per 4h. The table above refreshes every minute.
Who pays S 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 S 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.