BTC Funding Rate
Average perpetual funding rate across major exchanges
| Property | Value |
|---|---|
| Category | exchanges |
| Unit | % |
| Resolution | 1d |
| Assets | BTC |
| Tier | Basic |
| API Endpoint | GET /v1/funding/aggregate |
| Field | avg_funding_rate |
Overview
BTC Funding Rate shows the average perpetual futures funding rate across 7 major exchanges (Binance, Bybit, OKX, Deribit, Bitget, Gate.io, Hyperliquid).
Interpretation
Funding rate is a periodic payment between long and short traders in perpetual futures markets:
- Positive rate: Longs pay shorts — bullish leverage dominates, market is overleveraged long
- Negative rate: Shorts pay longs — bearish sentiment prevails, market is overleveraged short
- Near zero: Market is balanced between longs and shorts
Extreme values (>0.01% or <-0.01% per 8 hours) often precede liquidation cascades and price reversals.
Use Cases
- Sentiment gauge: Positive funding = bullish crowd, negative = bearish crowd
- Contrarian signal: Extreme positive funding often precedes short-term corrections
- Cost of carry: Funding represents the cost of holding leveraged positions
Data Source
Aggregated from 8-hourly funding snapshots across all tracked exchanges. Hyperliquid reports hourly rates which are normalized to 8-hour equivalents for cross-exchange comparability.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/funding/aggregate?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- Annualized Funding Rate — Funding rate annualized (×3×365)
- Funding Rate Spread — Max - Min funding rate across exchanges
- Active Exchanges — Number of exchanges reporting funding data