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.

Error while loading OpenAPI operation — Invalid OpenAPI document

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()
)

Error while loading OpenAPI operation — Invalid OpenAPI document

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