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On top of any exchange
| Exchange | Interval | APR ↓ | Rate | APR Bar |
|---|---|---|---|---|
 |
1h | +11.0% | +0.0013% | |
 |
8h | +11.0% | +0.0100% | |
 |
1h | +10.5% | +0.0012% | |
 |
1h | +7.7% | +0.0009% | |
 |
8h | +5.8% | +0.0053% | |
 |
1h | +5.3% | +0.0006% | |
 |
8h | +5.0% | +0.0046% | |
 |
8h | +4.8% | +0.0044% | |
 |
8h | +4.8% | +0.0044% | |
 |
1h | -2.0% | -0.0054% | |
 |
8h | -2.6% | -0.0024% | |
 |
8h | -2.8% | -0.0026% | |
 |
8h | -3.9% | -0.0036% | |
 |
8h | -7.3% | -0.0067% |
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A Solana funding rate is the periodic payment that keeps a SOL perpetual pinned to spot. Positive funding means SOL longs pay shorts; negative means shorts pay longs. SOL is a higher-beta asset, so its funding tends to swing harder than BTC or ETH — and because each exchange prices it off its own book, the spread across exchanges can be wide. The cross-exchange table shows that dispersion directly.
A large share of SOL perp volume sits on perp DEXes, so SOL is one of the assets where the CEX-versus-DEX funding split is most informative. Newer DEXes often carry a premium when their user base skews directionally long, and comparing every exchange at once shows where that premium sits and which exchange is cheapest to hold — the spread that funding arbitrage captures while staying market-neutral.
The OI-weighted aggregate averages every reporting exchange's SOL rate by open interest, so the deepest books drive the headline number and a thin exchange can't distort it. APR normalizes the different settlement intervals into one comparable annualized figure, which matters more for a fast-moving asset like SOL where per-interval rates can spike.
A Solana funding rate is the recurring payment between long and short holders of a SOL perpetual, keeping its price aligned with spot. It is quoted per interval and shown here annualized (APR) so exchanges on different schedules compare directly.
Each exchange sets SOL funding from its own order book, and SOL positioning is often more one-sided on newer perp DEXes than on large CEXes. That makes the rate on one exchange diverge sharply from another's — the cross-exchange view shows exactly where SOL leverage is stretched.
Positive SOL funding means longs pay shorts, typical when the perp trades above spot and leverage leans long. Negative funding means shorts pay longs, typical in bearish conditions. Because SOL is higher-beta, these swings are often larger and faster than for BTC or ETH.
A large share of SOL perpetual volume trades on perp DEXes, which can carry a funding premium when their users skew long. Comparing the CEX and DEX averages side by side shows where directional leverage is crowding and which exchange is cheapest to hold a SOL position on.
APR annualizes the per-interval rate — roughly rate × 3 × 365 for an 8-hour exchange, or × 24 × 365 for hourly exchanges. Rates aggregate across the CEX and perp DEX exchanges PerpDexWars tracks, including Binance, Bybit, OKX, Hyperliquid and Lighter, refreshed every few minutes.