Perpetual futures never expire, so funding keeps the contract price aligned with the market price. It is a recurring payment between traders — not a fee charged by N1.
Which side pays, and when
Funding settles hourly. If the funding rate is positive, longs pay shorts; if it is negative, shorts pay longs.
On the web, hover the funding rate in the market header to see the current 1hr rate / annualized rate, the direction (Longs pay Shorts or Shorts pay Longs), and a countdown to the next funding payment.
On mobile in Lite, open a market and scroll to Funding. The section shows the current hourly rate, which side pays, and the countdown to the next payment. Select How it works to see the hourly and annualized rates, direction, and interval together.
Where you see it
- Mobile Lite market details — the Funding section shows the hourly rate, payment direction, and next-payment countdown.
- Web Markets list — a Funding column shows each market's current rate as a signed percentage.
- Web market header — the current rate, plus the projected rate for the next payment, with the tooltip described above.
- Portfolio → Funding history — every payment you have made or received, with Time, Market, Size, Side, Payment and Action Id. You can filter to one market or Show all markets. If you have never held a position through a payment you will see "No funding history."
- Analytics → Funding rate — the rate over time, viewable as Period (per hour) or Annualized (that rate extrapolated over a year, i.e. × 24 × 365).
What it means for your account
- Funding applies to open positions only — closing before the hour settles means you neither pay nor receive it.
- Payments draw on your account equity, so persistent adverse funding gradually reduces the margin backing your positions. A leveraged position held for days can be meaningfully eroded by funding alone, so check Health if you hold positions for long periods.
- A large positive rate signals the market is heavily long (and vice versa), which is why some traders read funding as a positioning indicator rather than only a cost.
Funding vs trading fees
Funding is paid to other traders and can be positive or negative for you. Trading fees are charged on each fill and are always a cost — see Trading fees, fee tiers and fee credits.