What is the average funding rate on Phemex?
The mean funding rate across 99 Phemex perpetual markets is -0.34 bps, equivalent to -3.8% annualized after normalizing each market to an 8-hour basis.
Phemex funding rate history
Phemex lists 99 perpetual markets with funding rate data. The current mean funding rate across Phemex perps is -0.34 bps (-3.77% APY) (8h-normalized so it can be compared across venues with different funding intervals).
Highest Phemex funding rates
- PEPE: 3.76 bps (41.20% APY)
- SPCX: 3.54 bps (38.77% APY)
- SKHX: 2.78 bps (30.47% APY)
Lowest Phemex funding rates
- ICP: -91.32 bps (-999.92% APY)
- HBAR: -2.13 bps (-23.37% APY)
- SPY: -1.10 bps (-12.10% APY)
Largest absolute Phemex funding rates
Markets with the most extreme Phemex funding (positive or negative): ICP (-91.32 bps), PEPE (3.76 bps), SPCX (3.54 bps).
About Phemex funding rates
Funding payments keep Phemex perpetual contracts pinned to the underlying spot price. A positive Phemex funding rate means longs pay shorts — the long side is crowded and willing to pay to hold the position. A negative Phemex funding rate means shorts pay longs. All rates on this page are normalized to an 8-hour basis so Phemex can be compared directly with venues that fund hourly, every 4 hours, or on any other schedule.
Last updated 2026-08-22T03:13:07Z (UTC).
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FAQs
Phemex funding rate questions
Phemex currently reports funding for 99 perpetual futures markets with a mean 8-hour-normalized rate of -0.34 bps.
Which Phemex perpetual has the highest funding rate?
PEPE has the highest current Phemex funding rate at +3.76 bps, or +41.2% annualized.
Which Phemex perpetual has the lowest funding rate?
ICP has the lowest current Phemex funding rate at -91.32 bps, or -999.9% annualized.
Which Phemex market has the most extreme funding?
ICP has the largest absolute funding rate on Phemex at -91.32 bps. Absolute magnitude identifies the market furthest from a flat rate, regardless of sign.
What does a positive Phemex funding rate mean?
A positive normalized rate means longs pay shorts on that Phemex perpetual. A negative rate means shorts pay longs. The payment direction is market-specific and can differ across symbols on the same venue.
Related: Phemex open interest, Phemex volume, Phemex market data.
