Bybit Funding Rate
Bybit annualized funding rate
| Property | Value |
|---|---|
| Category | Market Data |
| Unit | % |
| Resolution | 1d |
| Assets | BTC |
| Tier | Pro |
| API Endpoint | GET /v1/funding/exchange |
| Field | annualized_apr |
Overview
Annualized perpetual funding rate on Bybit, one of the top three derivatives exchanges by open interest and volume. Bybit has been a leading perp venue since 2019 and is particularly popular among professional derivatives traders.
How Bybit Calculates Funding Rate
Bybit settles funding every 8 hours (00:00, 08:00, 16:00 UTC) using:
Funding Rate = clamp(Premium Index + Interest Rate Component, −0.375%, +0.375%)
- Premium Index: Calculated as the time-weighted average of
(Mark Price − Index Price) / Index Pricesampled every minute over the funding interval. - Interest Rate: Fixed at 0.01% per 8 hours (same as Binance).
- Clamp: Bybit applies a tighter ±0.375% cap per 8-hour period compared to some exchanges, moderating extreme funding events.
Bybit's mark price uses a dual-price mechanism combining the last traded price and the index price (a composite of spot prices from multiple exchanges), which helps prevent manipulation of the funding rate.
Interpretation
- Bybit funding often tracks Binance closely, but divergences can signal fragmented positioning
- Bybit tends to have slightly higher funding rates during strong trends due to its derivatives-focused user base
- Rapid Bybit funding increases without corresponding Binance moves can indicate one-sided retail positioning
- Bybit was among the first to offer USDC-margined perpetuals alongside USDT, and funding rates can differ between the two
Use Cases
- Comparing Bybit vs Binance funding to detect positioning divergence between their user bases
- Monitoring Bybit funding as a gauge of professional derivatives trader sentiment
- Basis arbitrage between Bybit and other venues when funding rates diverge
- Tracking the cost of leveraged long/short exposure on one of the most liquid perp markets
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/funding/exchange?exchange=bybit&start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- Annualized Funding Rate (OI-Weighted) — OI-weighted average annualized funding rate across 7 exchanges
- Futures Open Interest — Total futures open interest across all exchanges in USD
- Binance Funding Rate — Binance annualized funding rate