W-USDT funding rate today on 5 exchanges

Do longs or shorts pay W funding right now?

Shorts pay longs on all 5 exchanges. The next W funding rate is negative everywhere, from -0.0053% on Bitget to -0.0281% on OKX.

On Binance the rate has been negative for 26 settlements in a row, so shorts have been paying for a sustained stretch.

Is the W funding rate high right now?

Not unusually. At the last settlement on Binance the rate was -0.0073%, close to its typical size of 0.0050% per settlement over the past 30 days.

Is the W perpetual trading above or below spot?

Below. On the 5 exchanges that publish an index price, the W perpetual's mark price is 0.0070% to 0.1553% below the spot index. Exchanges combine this discount with a small interest component to set the next funding rate, so a lasting discount pulls funding down, although many contracts stay at the default +0.0100% until the discount is large.

Which exchange was cheapest for holding W over the last 90 days?

Over the last 90 days a $10,000 long received $214.00 in funding on OKX, the cheapest of 5 exchanges, and paid $108.00 on Bitget, the most expensive: a difference of $322.00.

The ranking runs the other way for shorts: a $10,000 short received $108.00 on Bitget, the best exchange for a short.

The ranking has moved: over the last 7 days the cheapest for longs was OKX, and over 30 days Gate, so check the recent figures before relying on the 90-day result.

Which exchange has the most W perpetual trading volume?

Binance has the most: 45.2% of the $39.2M in W perpetual futures traded across these exchanges in the last 24 hours, followed by OKX with 25.6%.

Open interest adds up to $21.3M on the exchanges that report it, the largest share on Binance (39.4%).

When is the next W funding payment?

Binance, OKX, Bybit, Bitget and Gate: every 4 hours, next at 2026-10-21 12:00 UTC.

Only positions that are open at the settlement time pay or receive funding.

What was the highest W funding rate in the last 30 days?

The highest settled rate was +0.0050% on Bybit (2026-10-21 08:00 UTC); the lowest was -0.0902% on Gate (2026-09-27 12:00 UTC).

On Binance the rate switched between positive and negative 13 times over the 30 days.

How much has W funding cost over the past 30 days?

At the funding rates each exchange published, holding a $10,000 long for the past 30 days would have cost -$127.58 on Gate, the least, and $11.46 on Bitget, the most.

Over the past 90 days it would have cost -$214.00 on OKX, the least, and $108.00 on Bitget, the most.

A negative amount means the long position was paid funding instead of charged.