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| Exchange | Interval | APR ↓ | Rate | APR Bar |
|---|---|---|---|---|
 |
8h | +11.0% | +0.0100% | |
 |
1h | +11.0% | +0.0013% | |
 |
1h | +11.0% | +0.0013% | |
 |
8h | +10.9% | +0.0100% | |
 |
1h | +10.9% | +0.0012% | |
 |
1h | +10.5% | +0.0012% | |
 |
8h | +2.5% | +0.0023% | |
 |
1h | +0.0% | +0.0000% | |
 |
8h | -0.5% | -0.0005% | |
 |
8h | -0.7% | -0.0007% | |
 |
8h | -1.9% | -0.0017% | |
 |
8h | -8.2% | -0.0075% | |
 |
8h | -26.6% | -0.0243% | |
 |
8h | -105.0% | -0.0959% | |
 |
8h | -117.8% | -0.1076% |
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The Zcash funding rate is a periodic payment between long and short perpetual positions that helps keep perpetual futures close to the underlying ZEC price. When funding is positive, longs generally pay shorts; when it is negative, shorts generally pay longs. Rates can differ across exchanges because positioning and market conditions vary by venue.
The table compares the current ZEC funding rate across supported exchanges, together with each venue’s funding interval and annualized APR. Rates from different settlement schedules are normalized to APR so they can be compared on the same basis, while the historical chart shows how ZEC funding has changed over time.
The OI-weighted aggregate gives exchanges with more open interest greater influence on the overall reading. CEX and DEX averages provide an additional cross-market comparison where available. Historical funding is best used as positioning context rather than as a standalone signal for future price direction.
It is the periodic payment exchanged between long and short positions in ZEC perpetual futures. Positive funding generally means longs pay shorts, while negative funding generally means shorts pay longs.
Funding can differ because each exchange has its own balance of long and short positioning, market activity, funding formula and settlement interval. Comparing venues helps show where funding pressure is strongest or weakest.
Positive rates generally mean longs are paying shorts, while negative rates generally mean shorts are paying longs. The size of the rate shows how expensive it is to hold the dominant side of the perpetual market at that time.
Funding APR annualizes the periodic funding rate so exchanges with different settlement intervals can be compared on a common basis. It is a normalization metric, not a guaranteed return, and it changes as funding rates change.
The aggregate is weighted by open interest, so exchanges with more open positions have more influence on the combined reading than smaller venues.
The history shows how perpetual-market funding has changed over time. It can help identify periods when positioning was persistently skewed toward longs or shorts, but historical funding does not predict future price direction.