SNX funding rate explained
Right now Synthetix (SNX) perpetual futures trade on 10 exchanges we track. The highest funding is on Binance at +0.030% per day, the lowest on OKX at +0.005%. The average across all venues is +0.028% per day, or about +10.0% a year. Positive funding means SNX longs are paying shorts — the market is leaning long.
The gap between the highest and lowest venue is +0.025% per day. A delta-neutral position that shorts SNX on Binance and goes long on OKX would collect that difference at each settlement, before trading fees and the price spread between the two contracts. Check the live SNX arbitrage board for the price side of the trade.
Settlement intervals differ: SNX funding is paid every 1 hour and 8 hours depending on the exchange, so every rate on this page is also shown normalised to 24 hours and as an APR.
Related: SNX arbitrage · Synthetix price · funding rates for all coins.