Predicted Funding Rates

/timeseries/market-funding-rates-predicted

Definition

Funding rates are a mechanism used by exchanges to keep the price of perpetual futures contracts aligned with the underlying spot market price. Unlike traditional futures, perpetual futures have no expiration date, which means they can deviate from the spot price indefinitely. The funding rate system addresses this by facilitating periodic payments between long and short position holders. These payments incentivize traders to take positions that bring perpetual futures prices closer to the underlying spot price.

Many exchanges report two different funding rates. The realized funding rate represents the actual funding rate calculated over the previous funding interval that is used in determining the funding payment. The predicted funding rate is the current estimate of what the funding rate will be at the end of the current funding interval. Some exchanges refer to the predicted funding rate as the real-time funding rate or the next funding rate.

Coin Metrics uses the term "funding rate" to refer to the realized funding rate that typically updates once every 8 hours for most exchanges, and the term "predicted funding rate" to refer to the funding rate that represents the estimated funding rate at the end of the current funding interval that updates in real-time. For more information on the realized funding rate, please see Market Funding Rates.

Details

The calculation and interpretation of the predicted funding rate is identical to the realized funding rate, except that the predicted funding rate updates in real-time. At the end of a funding interval, the predicted funding rate converges to the realized funding rate.

API Endpoints

Funding rates can be accessed using the timeseries/market-funding-rates-predicted endpoint.

Predicted Market funding rates

get

Returns predicted funding rates for specified futures markets. Results are ordered by tuple (market, time). To fetch the next page of results use next_page_url JSON response field. Keep in mind that spot markets are not supported by this endpoint.

Authorizations

Query parameters

marketsstring[]Required

Comma separated list of markets or market patterns like exchange-* or exchange-*-spot or *USDT-future. Use the /catalog-all/markets endpoint for the full list of supported markets.

start_timestringOptional

Start of the time interval. This field refers to the time field in the response. Multiple formats of ISO 8601 are supported: 2006-01-20T00:00:00Z, 2006-01-20T00:00:00.000Z, 2006-01-20T00:00:00.123456Z, 2006-01-20T00:00:00.123456789Z, 2006-01-20, 20060120. Inclusive by default. UTC timezone by default. Z suffix is optional and timezone parameter has a priority over it. If start_time is omitted, response will include time series from the earliest time available.

end_timestringOptional

End of the time interval. This field refers to the time field in the response. Multiple formats of ISO 8601 are supported: 2006-01-20T00:00:00Z, 2006-01-20T00:00:00.000Z, 2006-01-20T00:00:00.123456Z, 2006-01-20T00:00:00.123456789Z, 2006-01-20, 20060120. Inclusive by default. UTC timezone by default. Z suffix is optional and timezone parameter has a priority over it. If end_time is omitted, response will include time series up to the latest time available.

start_inclusivebooleanOptional

Inclusive or exclusive corresponding start_* parameters.

Default: true

end_inclusivebooleanOptional

Inclusive or exclusive corresponding end_* parameters.

Default: true

timezonestringOptional

Timezone name for start_time and end_time timestamps. This parameter does not modify the output times, which are always UTC. Format is defined by TZ database.

Default: UTCExample: America/New_York

page_sizeinteger · int32 · min: 1 · max: 10000Optional

Number of items per single page of results. The value of this parameter is ignored if the endpoint supports the format parameter and its value is set to json_stream.

Default: 100

paging_fromstring · enumOptional

Where does the first page start, at the start of the interval or at the end. The value of this parameter is ignored if the endpoint supports the format parameter and its value is set to json_stream.

Default: endPossible values:

limit_per_marketinteger · int32Optional

How many entries per market result should contain. It is useful when multiple markets are requested.

prettybooleanOptional

Human-readable formatting of JSON responses.

Default: false

formatstring · enumOptional

Format of the response.

Default: jsonPossible values:

next_page_tokenstringOptional

Token for receiving the results from the next page of a query. Should not be used directly. To iterate through pages just use next_page_url response field.

Responses

200

Time series of predicted market funding rates.

application/json

400

Market not found.

application/json

401

Requested resource requires authorization.

application/json

403

Requested resource is not available with supplied credentials.

application/json

414

Provided URI is too long. It must not be greater than 10000 symbols.

get

GET /v4/timeseries/market-funding-rates-predicted HTTP/1.1
Host: api.coinmetrics.io
Accept: */*

{
  "data": [
    {
      "market": "deribit-XRP_USDC-PERPETUAL-future",
      "time": "2024-01-30T13:36:00.000000000Z",
      "database_time": "2024-01-30T13:36:16.493351000Z",
      "rate_predicted": "0.00013059"
    },
    {
      "market": "deribit-XRP_USDC-PERPETUAL-future",
      "time": "2024-01-30T13:37:00.000000000Z",
      "database_time": "2024-01-30T13:37:16.500723000Z",
      "rate_predicted": "0.00013016"
    }
  ]
}

curl --compressed "https://api.coinmetrics.io/v4/timeseries/market-funding-rates-predicted?start_time=2023-01-01&paging_from=start&markets=deribit-XRP_USDC-PERPETUAL-future&pretty=true&api_key=<your_key>"

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/market-funding-rates-predicted?start_time=2023-01-01&paging_from=start&markets=deribit-XRP_USDC-PERPETUAL-future&pretty=true&api_key=<your_key>').json()
print(response)

from coinmetrics.api_client import CoinMetricsClient

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

print(
    client.get_market_funding_rates_predicted(
        markets=["binance-BTCUSDT-future"], limit_per_market=5
    ).to_dataframe()
)

Example

A sample of the funding rates data from the binance-BTCUSDT-future market from our /timeseries/market-funding-rates API endpoint is provided below.

{
  "data": [
    {
      "market": "binance-BTCUSDT-future",
      "time": "2025-03-21T20:18:00.000000000Z",
      "rate_predicted": "0.00005393",
      "database_time": "2025-03-21T20:18:10.143209000Z",
      "rate_time": "2025-03-22T00:00:00.000000000Z"
    },
    {
      "market": "binance-BTCUSDT-future",
      "time": "2025-03-21T20:19:00.000000000Z",
      "rate_predicted": "0.00005442",
      "database_time": "2025-03-21T20:19:35.864430000Z",
      "rate_time": "2025-03-22T00:00:00.000000000Z"
    }
  ]
}

market: The id of the market. Market ids use the following naming convention: exchangeName-baseAsset-quoteAsset-spot for spot markets, exchangeName-futuresSymbol-future for futures markets, and exchangeName-optionsSymbol-option for options markets.
time: The exchange-reported time in ISO 8601 date-time format with nanoseconds precision.
rate_predicted: The predicted funding rate expressed as a percentage over the period. For example, if the predicted funding rate is 0.10%, expressed as an 8 hour rate and calculated over the past 8 hours, the rate_predictedis 0.0010.
database_time: The timestamp when the data was saved in the database in ISO 8601 date-time format with nanoseconds precision.
rate_time : The timestamp representing the end of the current funding interval. The predicted funding rate is a real-time estimate of what the realized funding rate will be at this timestamp.

Frequently Asked Questions

What is the sampling frequency of the predicted funding rates?

The predicted funding rate is sampled once a minute for all listed instruments on the exchanges in our coverage universe.

Availability

Availability by Market

Coin Metrics CoverageCoin Metrics Coverage

Availability by Exchange

Exchange

Start Date

Binance

2024-11-06

Bybit

2023-01-27

Deribit

2023-01-16

OKEx

2025-01-13

PreviousFunding Rates NextAggregated Futures Funding Rate

Last updated 3 months ago

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