A periodic payment between long and short perpetual traders that keeps the perp price tethered to spot.
When the perp trades above spot, funding is positive and longs pay shorts; below spot it flips. Rates are typically charged every 1–8 hours and annualise fast: 0.01%/8h is ~11% APR.
RadarDeFi tracks live and historical funding for every major asset across 25+ venues — see the cross-venue matrix and the funding heatmap to spot spreads worth arbitraging.
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