Calculator
Funding cost calculator
How it works
Funding is a payment between longs and shorts on perpetual futures. Each payment is the position value times the funding rate. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. Multiply one payment by the number of funding times in your holding period to get the total.
Results
You pay
- Funding payments
- 9
- Each payment
- −$1.00
- Share of position value
- Rate as simple APR
- 10.95%
Fill in every field with a number above zero to see the result.
The formula
Each funding payment is the position value times the funding rate. Longs pay a positive rate and receive a negative one; shorts do the opposite. Over a holding period, multiply by the number of funding times you are in the position.
payment = position value × funding rate payments = whole intervals in the holding time total = payment × payments APR = rate × (24 ÷ interval hours) × 365
Worked example
A $10,000 long held for 3 days on a market that settles every 8 hours goes through 9 funding times. At 0.01% per interval, each payment is $1.00, so the long pays $9.00 in total. The same rate is 10.95% a year as simple APR.
On Hyperliquid, funding is hourly. As of 2026-10-29 21:33 UTC, BTC funding is +0.0013% per hour. The same $10,000 long over 3 days goes through 72 funding times and pays $9.00 at that rate. The Hyperliquid funding rates page lists the current rate of every market.
Funding is small next to price moves on a short trade, but it adds up on positions held for weeks, and at high leverage it eats into margin faster.
Frequently asked questions
Who pays funding, longs or shorts?
When the funding rate is positive, longs pay shorts. When it is negative, shorts pay longs. The exchange passes the payment between traders and does not keep it.
Is funding charged on margin or on position value?
On position value: the position size times the mark price at the funding time (Hyperliquid uses its oracle price). Leverage does not change the payment for a given position value, but it makes the payment larger relative to your margin.
Do I pay funding if I close before the funding time?
No. Only positions open at the funding timestamp pay or receive funding. The calculator counts whole funding intervals in your holding time.
How often is funding paid?
Hyperliquid pays every hour. Binance, OKX and Bybit settle most perpetuals every 8 hours, and some markets more often. Check the funding interval on the market's contract details.
Why does the real cost differ from the estimate?
The funding rate changes every interval, and each payment uses the price at that funding time. The calculator holds the rate and the position value constant, so treat the result as a scenario, not a quote.
Results are estimates for planning. Exchanges add fees, funding and tier rules of their own; check the order preview on your venue before you trade. Nothing here is investment advice.
Trade every venue from one tab.
Binance, OKX, Bybit, and Hyperliquid with news, charts, and one-command orders. Included with Ninja Squad Pro membership.