Crypto funding rates, every Binance perp
Who is paying to hold their position right now. Negative funding means shorts pay longs; positive means longs pay shorts. Every rate is scaled to 8 hours, so contracts that settle every 1, 4 or 8 hours compare directly.
A perpetual future has no expiry, so exchanges keep its price close to spot with funding: a small payment between longs and shorts every few hours. When more traders want to be long, the perp drifts above spot and longs pay shorts. When shorts crowd in, the rate turns negative and shorts pay longs.
Base rate. On Binance the neutral rate is +0.01% per 8 hours, so anything near that is calm. Rates far below zero mean shorts are paying heavily to stay in; far above, longs are. Per year is the 8-hour rate times three, times 365: what holding the position for a year at this rate would cost or earn.
Why it matters. A crowded side that pays a lot can be forced out if price moves against it, which tends to make the move bigger. That is what Squeeze Watch scores, together with the crowd, open interest and the perp-to-spot gap. Funding is a read on positioning, not a forecast; a crowded side can stay crowded for days.