A lower percentage can cost more if it is charged more often. Compare a position’s cash cost over the same holding window, not isolated headline rates. The tool reads BTC or ETH funding independently from each venue and shows the next settlement in your local time.
What this comparison actually measures
It is a forward scenario that holds today’s rate, schedule and notional constant. It is neither a past 24-hour bill nor a prediction of future funding. Missing venue data stays unavailable instead of borrowing a rate from another exchange.
Count settlement events, not fractions of a day
If the next settlement is seven hours away, a six-hour holding window contains no payment at that event. A seven-hour window includes it. The calculation includes settlements after the start and at or before the end; real execution around the boundary can change whether a position qualifies.
Hyperliquid settles hourly. For OKX, the tool reads the interval between fundingTime and nextFundingTime. Binance schedules can also change. Refresh before comparing rather than assuming that every contract always settles every eight hours.
Read the sign from your position’s perspective
A positive funding rate generally means longs pay shorts; a negative rate reverses the transfer. The result already accounts for the selected side: positive cost means you pay, and negative cost means you receive. A negative market rate is not free income for both sides.
The cheapest funding is not always the cheapest trade
Moving venues adds entry and exit fees, spread, slippage and potentially transfer costs. For short holds, execution costs may dominate funding. Opposite positions across venues also introduce legging, basis and collateral risks. Take the scenario funding amount into the break-even calculator to compare the whole trade.