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Phemex funding rate history

Phemex lists 130 perpetual markets with funding rate data. The current mean funding rate across Phemex perps is 0.41 bps (4.46% APY) (8h-normalized so it can be compared across venues with different funding intervals).

Highest Phemex funding rates

  • JUP: 6.04 bps (66.15% APY)
  • ALGO: 3.40 bps (37.24% APY)
  • LINK: 2.65 bps (29.06% APY)

Lowest Phemex funding rates

  • XAU: -5.41 bps (-59.19% APY)
  • TRX: -2.51 bps (-27.46% APY)
  • META: -2.00 bps (-21.92% APY)

Largest absolute Phemex funding rates

Markets with the most extreme Phemex funding (positive or negative): JUP (6.04 bps), XAU (-5.41 bps), ALGO (3.40 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 2026-10-06T11:55:44Z (UTC).

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FAQs

Phemex funding rate questions

Phemex currently reports funding for 130 perpetual futures markets with a mean 8-hour-normalized rate of +0.41 bps.

  • What is the average funding rate on Phemex?

    The mean funding rate across 130 Phemex perpetual markets is +0.41 bps, equivalent to +4.5% annualized after normalizing each market to an 8-hour basis.

  • Which Phemex perpetual has the highest funding rate?

    JUP has the highest current Phemex funding rate at +6.04 bps, or +66.2% annualized.

  • Which Phemex perpetual has the lowest funding rate?

    XAU has the lowest current Phemex funding rate at -5.41 bps, or -59.2% annualized.

  • Which Phemex market has the most extreme funding?

    JUP has the largest absolute funding rate on Phemex at +6.04 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.