Last updated OCT. 11, 2026 · 6:52 AM UTC
The BTC perpetual futures funding rate - the periodic payment exchanged directly between long and short position holders on perpetual futures contracts. A positive rate means longs are paying shorts (the long side is more crowded with leverage); a negative rate means the reverse.
Pulled directly from OKX's BTC-USDT perpetual swap (no calculation on our end). A rate within ±0.01% reads Balanced; ±0.01–0.05% reads Elevated Long/Short Leverage; beyond ±0.05% reads Extreme Long/Short Leverage, based on OKX's own typical historical funding range.
Unlike most indicators here, "positive" doesn't mean bullish - it means balanced, uncrowded positioning. Elevated leverage in either direction counts as the non-positive reading in Signal Confluence, since crowded leverage on either side raises the risk of a fast, forced liquidation cascade, not just for one side.
Crowded leverage - long or short - is fuel for sharp, fast moves as over-leveraged positions get forcibly liquidated. Balanced funding means positioning is healthier and less prone to a cascade in either direction.
OKX public market-data API (BTC-USDT-SWAP), no key required. Refreshed automatically every 15 minutes. (Binance's equivalent endpoint is geo-blocked for US-region requests, so this uses OKX instead.)
Refreshed automatically every 15 minutes: nothing here is backfilled or estimated.
