FUNDING — Crypto Perp Funding Rates

Multi-exchange perpetual funding-rate matrix — long/short crowdedness.

1. STEP 01 / 04

   Cross-exchange grid

   Rows = symbols (BTC-PERP, ETH-PERP, SOL-PERP, etc.). Columns = exchanges (Binance, Bybit, OKX, Hyperliquid). Cell = current funding rate, coloured by sign (positive = longs paying = crowded long).

2. STEP 02 / 04

   APR-annualised median chip

   Top-right hero chip: median funding rate annualised. > 30% APR = longs heavily crowded; squeeze risk to the downside. Negative APR > 10% = shorts crowded; squeeze risk to the upside. The contrarian signal works here more than in any other market.

3. STEP 03 / 04

   Cross-exchange dispersion = arb signal

   When one exchange's funding diverges from the median by > 5bp / 8h, basis-trade arb is available. Open a perp on the high-funding side, short on the low-funding side, collect the differential less fees + slippage. Microstructure opportunity.

4. STEP 04 / 04

   Pair with stablecoin peg

   Type PEG. Sustained negative funding + de-pegging stablecoins = forced-deleveraging in progress. Sustained positive funding + stable pegs = healthy speculation. The combination tells you whether crypto is melting up or melting down.

   PalettePEG

A per-symbol cross-exchange matrix of perpetual-futures funding rates for the top crypto pairs. Each row is a symbol (BTC, ETH, SOL, …). Each column is an exchange (Binance, Bybit, OKX) plus median + spread summaries.

Cells colored by sign + magnitude: positive funding (longs pay shorts) reads warm; negative funding (shorts pay longs) reads cool. The hero regime chip annualizes the median: EXTREME LONG / LONGS PAYING / NEUTRAL / SHORTS PAYING / EXTREME SHORT.

• Palette: add funding or add fundingrates.
• Mnemonic: funding, perpfunding, fund.
• Symbol-agnostic — surveys all top crypto perps regardless of the active chart.

• Symbol column — base pair (USDT-quoted on each venue).
• Mark — current mark price, sourced from the first venue that reports it.
• Per-exchange cells — funding rate for the next funding period, in % per period (typically 8h). Color and intensity scale with magnitude. — means the venue didn't list this symbol or the request timed out.
• Median — median funding across reporting venues. The cleanest single read for "how is this perp paying."
• Spread — max minus min across venues. Highlighted amber when ≥ 0.0003% (3 bps), which is unusually wide and signals a venue-specific positioning quirk.

Funding rates are typically per-8-hour. The hero chip annualizes the global median (rate × 3 periods/day × 365):

• EXTREME LONG (> 50% APR) — crowded longs, deleveraging risk material.
• LONGS PAYING (15–50% APR) — bullish positioning, healthy carry.
• NEUTRAL (−5 to 15% APR) — balanced.
• SHORTS PAYING (−5 to −15% APR) — bearish positioning, short squeeze risk.
• EXTREME SHORT (< −15% APR) — capitulation territory.

• Carry trade. Borrow on the cheap-funding side (e.g. spot BTC), lend on the rich-funding side (short the perp to collect funding). Spread is the carry. Run nightly when funding flips clear.
• Positioning-extreme contrarian. When the regime chip flips to EXTREME LONG and stays there for > 24 h, forced-deleveraging cascades become statistically more likely. Pair with chart-side support breaks for the entry.
• Cross-venue dispersion play. If Binance prints +0.05% on BTC while OKX shows −0.01%, longs are crowded on Binance specifically. Short the rich side, long the cheap side — venue-arbitrage carry.

Funding rates are pulled from Binance, Bybit, and OKX and refreshed every 30 seconds. Falls back gracefully when one venue is unreachable — other venues still populate.

• DOM — order-book ladder for deeper microstructure.
• Chart — pair the funding read with price action.