COW funding rate

Live CoW Protocol perpetual funding on every connected exchange. Positive funding means longs pay shorts.

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Highest (24h)+0.030%Binance

Lowest (24h)+0.030%Variational

Average (24h)+0.030%across 8 venues

Funding gap (24h)+0.000%short the highest, long the lowest

ExchangeFundingIntervalNext in24hAPRMarkvs indexVolume

BinanceCEX · COWUSDT+0.0050%4h—+0.030%+10.9%$0.1576-0.058%—

BybitCEX · COWUSDT+0.0050%4h—+0.030%+10.9%$0.1577-0.032%$190.3K

BitgetCEX · COWUSDT+0.0050%4h—+0.030%+10.9%$0.1575-0.114%$87.4K

MEXCCEX · COW_USDT+0.0050%4h01:01:32+0.030%+10.9%$0.1575-0.063%$118.3K

GateCEX · COW_USDT+0.0050%4h01:01:32+0.030%+10.9%$0.1575-0.038%$5.6K

KuCoinCEX · COWUSDTM+0.0050%4h01:01:32+0.030%+10.9%$0.1575-0.063%$18.3K

AsterPerp DEX · COWUSDT+0.0050%4h—+0.030%+10.9%$0.1576-0.047%—

VariationalCEX · COW+0.0050%4h—+0.030%+10.9%$0.1577—$732

COW funding rate explained

Right now CoW Protocol (COW) perpetual futures trade on 8 exchanges we track. The highest funding is on Binance at +0.030% per day, the lowest on Variational at +0.030%. The average across all venues is +0.030% per day, or about +10.9% a year. Positive funding means COW longs are paying shorts — the market is leaning long.

The gap between the highest and lowest venue is +0.000% per day. A delta-neutral position that shorts COW on Binance and goes long on Variational would collect that difference at each settlement, before trading fees and the price spread between the two contracts. Check the live COW arbitrage board for the price side of the trade.

Settlement intervals differ: COW funding is paid every 4 hours depending on the exchange, so every rate on this page is also shown normalised to 24 hours and as an APR.

What is the COW funding rate today?

The average COW funding rate across 8 exchanges is +0.030% per 24 hours. It ranges from +0.030% on Variational to +0.030% on Binance. Rates update every few seconds on this page.

Which exchange has the highest COW funding rate?

Binance currently has the highest COW funding at +0.030% per day, and Variational the lowest at +0.030%.

How often is COW funding paid?

COW perpetuals settle funding every 4 hours, depending on the exchange. The table shows each venue's interval and a countdown to the next payment.

Is COW funding positive or negative?

On average it is positive (+0.030% per day): longs pay shorts.