W funding rate today: 4 exchanges
The W funding rate on USDT-margined perpetuals at Binance, Bybit, OKX, 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 W rate is on BingX (-0.0326% per 8h), the lowest on Binance (-0.0717%). Shorts pay. Combined 24h turnover across exchanges: $102.1M.
What the numbers say
- The rate is negative on all 4 exchanges: shorts pay longs, positioning leans short.
- The standout rate is on Binance: -0.0717% per 8 hours, 7x the usual 0.01%. Rates like this usually come with sharp price moves and rarely last.
- Widest spread: short on BingX, long on Binance - 0.0391% per 8 hours. It would cover the fees for opening and closing both legs in 1.7 days if rates stay the same.
- On Binance the imbalance is persistent: -0.78% paid over the past 7 days.
Rates by exchange
| Exchange | Rate per interval | Cap | Per 8h | Annualized | Next payment | Paid 7d | Paid 30d | 24h turnover |
|---|---|---|---|---|---|---|---|---|
| Binance | -0.0358% / 4h | ±2% | -0.0717% | -78.5% | - | -0.78% | -0.75% | $54M |
| Bybit | -0.0212% / 4h | ±0.5% | -0.0425% | -46.5% | - | -0.72% | -0.62% | $19M |
| OKX | -0.0346% / 4h | ±1% | -0.0691% | -75.7% | - | -0.88% | -1.48% | $22M |
| BingX | -0.0163% / 4h | ±2% | -0.0326% | -35.7% | - | -0.24% | +0.12% | $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 | +2.15 $ | -2.15 $ | +150.47 $ | +77.70 $ |
| Bybit | +1.27 $ | -1.27 $ | +89.23 $ | +71.78 $ |
| OKX | +2.07 $ | -2.07 $ | +145.12 $ | +87.59 $ |
| BingX | +0.98 $ | -0.98 $ | +68.46 $ | +24.40 $ |
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.
W arbitrage pair
- Short on BingX, long on Binance: a spread of 0.0391% per 8 hours, 42.8% annualized.
- Covers the fees for opening and closing both legs in 1.7 days if rates stay the same.
- Over the past 7 days this pair would have earned +0.53% of notional before fees, over 30 days +0.86%.
- All pairs and how to read them are in the funding arbitrage table, risks included.
More on W
- Funding rate heatmap - W next to other coins.
- Open interest screener - whether positions in W are growing or shrinking.
- Liquidations - forced closes over the last 24 hours.
FAQ
What is the W funding rate now?
Binance: -0.0358% per 4h; Bybit: -0.0212% per 4h; OKX: -0.0346% per 4h; BingX: -0.0163% per 4h. The table above refreshes every minute.
Who pays W 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. The rate is negative on all 4 exchanges: shorts pay longs, positioning leans short.
Why are W 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.