How funding works
Perpetual futures never expire, so exchanges use funding to keep their price close to the spot price. When the perpetual trades above spot, the rate is positive and longs pay shorts; when it trades below, shorts pay longs. The payment is the rate times your position value at each settlement, and it goes to the traders on the other side, not to the exchange.
Why convert to 8 hours
A 0.01% rate charged every hour costs eight times more than 0.01% charged every eight hours. Hyperliquid settles every hour, and Binance, Bybit and others move some contracts to 4-hour or 1-hour settlement when funding is volatile. Converting everything to an 8-hour rate puts the numbers on the same scale. The annualised column multiplies the current rate over a year; real funding changes constantly, so read it as "how expensive right now", not as a forecast.
What extreme rates tell you
Very high positive funding usually means crowded longs, very negative funding crowded shorts. Some traders hold the opposite side on two exchanges to collect the difference, but price gaps between exchanges, fees and liquidation risk on each side eat into it. The comparison page shows where the same position would be liquidated on each exchange.
Funding by coin
BTCETHSTRKSOLNEARZECMAGICLUMIACFXHYPEXRPWLDUSTIARLCSUIAll coins