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Accumulated funding

KERNEL · Funding accumulated

KERNEL — the two exchanges ⚠ You cannot actually enter (open interest $430.3K / floor $5.0M)

SideExchangeSymbol
Selling side (the higher funding rate)Bitget·USDT You receiveKERNEL
Buying side (buying spot)Binance·USDC You pay borrowing interestKERNELUSDC Spot

ⓘ
The sell side is the exchange with the higher funding rate, and the buy side is the lower one. On the Sell side exchange, you receive funding. The Buy side is spot margin trading, so there is no funding to receive or pay; you pay borrowing interest instead. The two exchanges' receipts and payments added together is your share (the net spread). It is positive right now, so it piles up in your hands while you hold. The line shows how it built up if you kept holding in this direction, after that borrowing interest is taken out.

Funding rate payments received and paid, accumulated, minus borrowing interest (as a % of the amount opened)

Period: 7d 30d 90d 180d

Holding KERNEL (sell on Bitget·USDT, buy on Binance·USDC spot) for 7 days, with the entry day shifted across 92 cases from to , the funding received and paid came to: worst +0.01%, median +0.08%, best +0.11%. 0 of the 92 came out above the cost of opening and closing, ≈1.15% (today's figure). In the record, the median entry had not cleared the cost after 19 days held.

0%+0.20+0.4010-0910-1810-2811-07+0.00%▲+0.36%
Received more than paid (positive)Paid more than received (negative)

For comparison: opening and then closing costs ≈1.15% of the amount on each side right now, with $10,000 on each side (the same figure as on the pair detail page); the share of an exchange whose order book could not be read is estimated from open interest and volume. It is not taken out of the line above.

ⓘ This screen is for looking at the shape of the line over different periods. Whether it is all right to hold in this direction, and the cautions, are on the pair detail page (that page evaluates over a fixed length of time, the same one used when deciding what goes on the list, so changing the period here does not move its verdict). Last updated

Questions we are asked

What do the entry day and days held figures count?

Each figure is the funding received minus paid if you had entered on that day and held for the chosen number of days: the height of the line on the exit day minus its height on the entry day.

The entry day is shifted evenly across the period, and the sentence above the chart gives the worst, the middle and the best of those cases, and how many of them came out above the cost of opening and closing. It is a record of the past, not a forecast.

Does the line include the cost of buying and selling?

The accumulated line does not include the cost of opening and closing the two positions.

The cost is shown beside it as a yardstick: today's figure with $10,000 on each side, the same as on the pair detail page. Only a pair with a spot-margin side has its borrowing interest taken out of the line.

Why do the cautions on the pair detail page stay the same when I change the period here?

The pair detail page reads its cautions over the same fixed last 30 days used to decide what goes on the list, so the period picked here does not move them.

This page is for looking at the shape of the line over different periods.

How are exchanges with different settlement intervals counted?

The line adds each exchange's funding at that exchange's own settlement times (every hour, every 4 hours, every 8 hours and so on), at the rate for that settlement.

Between settlements the line stays flat, so it rises and falls in steps.