Aggregated Futures Funding Rate

Definition

The average funding rate weighted by open interest from futures markets converted to a specified time period.

Name	MetricID	Unit	Interval
Funding rate, aggregated, futures, USD-margined, 8 hours	futures_aggregate_funding_rate_usd_margin_8h_period	Dimensionless	1 hour
Funding rate, aggregated, futures, USD-margined, 1 day	futures_aggregate_funding_rate_usd_margin_1d_period	Dimensionless	1 hour
Funding rate, aggregated, futures, USD-margined, 30 days	futures_aggregate_funding_rate_usd_margin_30d_period	Dimensionless	1 hour
Funding rate, aggregated, futures, USD-margined, 1 year	futures_aggregate_funding_rate_usd_margin_1y_period	Dimensionless	1 hour
Funding rate, aggregated, futures, coin-margined, 8 hours	futures_aggregate_funding_rate_coin_margin_8h_period	Dimensionless	1 hour
Funding rate, aggregated, futures, coin-margined, 1 day	futures_aggregate_funding_rate_coin_margin_1d_period	Dimensionless	1 hour
Funding rate, aggregated, futures, coin-margined, 30 days	futures_aggregate_funding_rate_coin_margin_30d_period	Dimensionless	1 hour
Funding rate, aggregated, futures, coin-margined, 1 year	futures_aggregate_funding_rate_coin_margin_1y_period	Dimensionless	1 hour
Funding rate, aggregated, futures, all-margined, 8 hours	futures_aggregate_funding_rate_all_margin_8h_period	Dimensionless	1 hour
Funding rate, aggregated, futures, all-margined, 1 day	futures_aggregate_funding_rate_all_margin_1d_period	Dimensionless	1 hour
Funding rate, aggregated, futures, all-margined, 30 days	futures_aggregate_funding_rate_all_margin_30d_period	Dimensionless	1 hour
Funding rate, aggregated, futures, all-margined, 1 year	futures_aggregate_funding_rate_all_margin_1y_period	Dimensionless	1 hour

Details

The futures_aggregate_funding_rate_usd_margin_* metrics represent the average funding rate weighted by open interest from perpetual futures markets where the margin asset is U.S. dollars or stablecoins converted to a specified time period.

The futures_aggregate_funding_rate_coin_margin_* metrics represent the average funding rate weighted by open interest from perpetual futures markets where the margin asset is equivalent to the underlying base asset converted to a specified period.

The futures_aggregate_funding_rate_all_margin_* metrics represent the average funding rate weighted by open interest from all perpetual futures markets, regardless of the margin asset, converted to a specified time period.

These metrics have a publication frequency of once per hour and represent the average funding rate converted to 8 hour, 1 day, 30 day, and 1 year time periods.

Most, but not all, exchanges pay out the funding rate every 8 hours. Thus, standardizing the funding rate period is a step needed for each of the calculation of the funding rate metrics. For a funding rate $FR$ with an period $P$, expressed in hours, the 8-hour funding rate $FR_{8}$ is calculated as follows:

$$FR_{8} = \frac{P}{8} FR$$

For a list of markets $X$, where each market $m$ has funding rate $FR_{m}$ and open interest $OI_{m}$ converted to U.S. dollars, the aggregate funding rate $AFR_{X}$ is calculated as:

$$AFR_{x} = \frac{\sum_{m \in X} OI_{m} FR_{m,8}}{\sum_{m \in X} OI_{m}}$$

API Endpoints

Aggregate Futures Funding Rates can be accessed using the timeseries/asset-metrics and timeseries/exchange-asset-metrics endpoints by passing in futures_aggregate_funding_rate_usd_margin_* to the metrics parameter.

Asset metrics

Returns requested metrics for specified assets. Results for block by block metrics (1b frequency) are ordered by tuple (asset, height, block_hash), all other metrics are ordered by tuple (asset, time). You can change the sorting using sort query parameter. Supported output formats are json (default) and csv, use format query parameter to override it. To fetch the next page of results use next_page_url JSON response field or x-next-page-url CSV HTTP header if present. If multiple metrics are requested in the same time the strict policy for partially available metrics among requested ones is applied:

GEThttps://api.coinmetrics.io/v4/timeseries/asset-metrics

Authorization

api_key

Query parameters

Response

200400401403414

Time series of metrics for an asset.

Body

application/jsontext/csv

data*any

next_page_tokenNextPageToken (string)

Token of the next page results for a given request.

next_page_urlNextPageUrl (string)

URL of the next page results for a given request.

Response

200400401403

{
  "next_page_token": "text",
  "next_page_url": "text"
}

Shell

curl --compressed "https://api.coinmetrics.io/v4/timeseries/asset-metrics?assets=btc&metrics=futures_aggregate_funding_rate_usd_margin_8h_period&limit_per_asset=1&api_key=<your_key>"

Python

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/asset-metrics?assets=btc&metrics=futures_aggregate_funding_rate_usd_margin_8h_period&limit_per_asset=1&api_key=<your_key>
print(response)

Python Client

from coinmetrics.api_client import CoinMetricsClient

api_key = "<API_KEY>"
client = CoinMetricsClient(api_key)

print(
    client.get_asset_metrics(
        assets=["btc"], metrics=['futures_aggregate_funding_rate_usd_margin_8h_period'], frequency='1d', limit_per_market=1
    ).to_dataframe()
)

Exchange-asset metrics

Returns metrics for specified exchange-asset. Results are ordered by tuple (exchange_asset, time). To fetch the next page of results use next_page_url JSON response field.

GEThttps://api.coinmetrics.io/v4/timeseries/exchange-asset-metrics

Authorization

api_key

Query parameters

Response

200400401403414

Time series of exchange-asset metrics.

Body

application/json

data*any

next_page_tokenNextPageToken (string)

Token of the next page results for a given request.

next_page_urlNextPageUrl (string)

URL of the next page results for a given request.

Response

200400401403

{
  "next_page_token": "text",
  "next_page_url": "text"
}

Shell

curl --compressed "https://api.coinmetrics.io/v4/timeseries/exchange-asset-metrics?exchange_assets=binance-btc&metrics=futures_aggregate_funding_rate_usd_margin_8h_period&limit_per_exchange_asset=1&api_key=<your_key>"

Python

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/exchange-asset-metrics?exchange_assets=binance-btc&metrics=futures_aggregate_funding_rate_usd_margin_8h_period&limit_per_exchange_asset=1&api_key=<your_key>
print(response)

Python Client

from coinmetrics.api_client import CoinMetricsClient

api_key = "<API_KEY>"
client = CoinMetricsClient(api_key)

print(
    client.get_exchange_asset_metrics(
        exchanges=["binance-btc"], metrics=['futures_aggregate_funding_rate_usd_margin_8h_period'], frequency='1d', limit_per_market=1
    ).to_dataframe()
)

Example

{
  "data" : [ {
    "asset" : "btc",
    "time" : "2023-09-19T19:00:00.000000000Z",
    "futures_aggregate_funding_rate_all_margin_8h_period](https://coverage.coinmetrics.io/search-results?query=)" : "0.0000301358130541726"
  }, {
    "asset" : "btc",
    "time" : "2023-09-19T20:00:00.000000000Z",
    "futures_aggregate_funding_rate_all_margin_8h_period](https://coverage.coinmetrics.io/search-results?query=)" : "0.0000305589276681095"
  }, {
    "asset" : "btc",
    "time" : "2023-09-19T21:00:00.000000000Z",
    "futures_aggregate_funding_rate_all_margin_8h_period](https://coverage.coinmetrics.io/search-results?query=)" : "0.0000327674045704149"
  }, {
    "asset" : "btc",
    "time" : "2023-09-19T22:00:00.000000000Z",
    "futures_aggregate_funding_rate_all_margin_8h_period](https://coverage.coinmetrics.io/search-results?query=)" : "0.0000328893535861447"
  }, {
    "asset" : "btc",
    "time" : "2023-09-19T23:00:00.000000000Z",
    "futures_aggregate_funding_rate_all_margin_8h_period](https://coverage.coinmetrics.io/search-results?query=)" : "0.0000328738735624742"
  } ]
}

• asset: The id of the asset.\

• time: The exchange-reported time in ISO 8601 date-time format. Always with nanoseconds precision.\

• futures_aggregate_funding_rate_all_margin_8h_period: The weighted-average funding rate.

Release History

• Released on September 19, 2023

Availability for Assets

Coin Metrics CoverageCoin Metrics Coverage