What is the ETH funding rate right now, and what will it cost on a trade you open today?

01The ETH funding rate right now, exchange by exchange

Funding is not a fee the exchange keeps — it is money moving between the two sides of the same contract, so that the perpetual price stays close to the spot price of ether. If you want the mechanics from the beginning, how funding is charged covers them in detail. Here the job is simpler: see the current number on each venue, and turn it into money for your own trade size.

The table below is filled from the exchanges' public data and refreshed every hour, so it shows the rate each venue is advertising for its next ETH settlement. Read the sign first — a minus in front of the number means shorts are paying longs. Then read the interval, because the same-looking number does not mean the same amount of money everywhere.

On Binance the default is a payment every 8 hours — three a day — and some contracts pay more often, with the interval shortening further when the rate runs into its limit. Bybit, OKX and the Perpetuals tab in Binance Wallet each run their own schedule, so the countdown on the contract page is what you trust. Hyperliquid pays every hour. To compare an hourly rate with an 8-hour one you multiply the hourly figure by 8, not by 24; comparing 1-hour and 8-hour funding walks through that with examples.

02Where to see the ETH rate in each app, and how to read it

On every venue the number sits on the contract page itself, in the strip of small figures near the price, together with a countdown to the next payment. You do not need to deposit anything to look at it.

1. Binance Futures

   Open the ETHUSDT perpetual. The funding rate and the time until the next payment sit in the row of small figures next to the price. Past payments are kept in your futures account history once you have traded. The quickest way to see this on a live screen is to open a Binance Futures account and look at the ETHUSDT page — during sign-up the app will also show you whether futures are available where you live.

2. Bybit

   Same pair name, ETHUSDT. The rate and the countdown to the next payment sit next to the price on the contract page.

3. OKX

   The contract is called ETH-USDT-SWAP. Look for the funding rate next to the price, with the time of the next settlement beside it.

4. Hyperliquid

   Open the ETH market and read the funding figure there. Payment happens every hour, so multiply the number by 8 before you compare it with an 8-hour rate from another venue.

5. Binance Wallet, Perpetuals tab

   Open the ETH pair in the Perps list. Execution and the order book there come from Binance's partner Aster, so the funding you see and pay in the wallet can differ from the number on Binance Futures for the same coin, and the interval on a given contract may be 8, 4 or 1 hour.

One rule applies everywhere: only a trader holding the position at the exact settlement moment pays or receives. Open a trade after the clock resets and close it before the next payment, and funding never touches your balance.

03What today's rate means for a trade you open now

Funding is charged on the size of your position, not on the margin you put up. Say you put 500 USDT of your own money in at 5x. That opens a position of 2,500 USDT of ETH contracts, and whatever the rate is at the next settlement, you multiply it by 2,500 — the 500 USDT never enters the sum.

That is the part most people dismiss — a quarter of a dollar feels like nothing. The question is what it adds up to if you keep the trade: three payments a day on an 8-hour contract, twenty-four on Hyperliquid, and the rate changes every time. The funding calculator lets you put in your own position size and a rate from the table above and see the payment before you commit.

Notice what leverage does here. Keep the same 500 USDT of your own money and move from 5x to 10x, and your position becomes 5,000 USDT, so your funding bill doubles even though you added nothing. That is one more thing to weigh when you pick leverage for a trade.

04Recent months, and why the cheapest venue keeps changing

The next table breaks the same calculation down month by month and venue by venue, so you can see whether the current pace is normal for ethereum funding or an unusually expensive stretch. It is shown as the cost per 1,000 USDT of position held non-stop, so for the 2,500 USDT example you read the figure for the month and the venue you care about and multiply it by 2.5.

Compare the rows. Some months cost a long noticeably more than others, and when the figure has a minus in front of it, the long was paid instead of paying. The gap between the venues moves around too, so cheapest last month does not mean cheapest next month — check the current number before each trade rather than trusting a ranking.

If you want the long view — twelve months of history for BTC and ETH, and what holding a perpetual cost against simply holding the coin — that is laid out in the funding cost study, and the same data is searchable in the funding history tool. For other coins, start from the BTC funding page and the rest of this section.

05What to do with this before you open the trade

Make it part of your checklist, right next to the stop-loss. Look at the current ETH rate and the countdown, decide roughly how long you intend to hold, and multiply: rate × your position size × the number of settlements you expect to sit through. If the answer is a few cents, forget about it. If you are planning to hold a leveraged long for weeks while longs are paying at every settlement, that number belongs in your plan, because it comes out of the same account as your profit.

One last honest point: these numbers count funding only. Your actual result also moves with the price of ether, and a few dollars of funding mean little next to a 5% move against a leveraged position. Funding is the slow cost, not the main risk.