Funding payments on perpetual contracts: a tracking routine for Filipino traders
A perpetual contract never expires, so exchanges use a periodic payment between long and short holders to keep its price near the spot market. Depending on market mood, you either pay or receive that amount at fixed intervals. Many Filipino traders only notice it when the transaction history shows small deductions they did not expect. Understanding where the rate is displayed and how it applies to your position takes a few minutes, and keeping a simple log helps you judge whether a trade is still worth holding.
Find the rate and the countdown
On the futures trading screen of Binance, OKX, Bybit or Bitget, look just above or beside the chart. You will see the current or predicted funding rate and a timer to the next settlement. A positive rate generally means longs pay shorts; a negative one means the reverse. Tap the figure for a history view on most platforms, which shows how the rate has swung over recent days. Intervals differ between contracts, so do not assume every pair settles on the same schedule.
Work out what it means for your position
The payment is calculated on the position's notional value, not on your margin. A modest rate on a leveraged position can therefore be large relative to the cash you put in. Multiply your position value by the displayed rate to approximate a single payment, then by the number of settlements you expect to hold through. Compare that figure with the profit you hope to make. If funding would consume most of it, a shorter holding period or spot trade may suit better.
Check payments in transaction history
After a settlement passes, open the futures wallet or assets section and filter the transaction history by funding fee. Each entry shows the contract, time and amount. Bybit and OKX label these clearly; Binance and Bitget list them in the futures transaction log. If an amount looks wrong, compare the settlement time with when you opened or closed, since a position held at that exact moment is charged even if closed soon after.
Keep a peso-based log
Many traders here think in pesos rather than USDT. In a spreadsheet, record date, contract, direction, funding amount and the peso rate you used to convert it. Over a month this shows the real holding cost of your strategy. It also helps if you later need to explain your trading results to an accountant, since funding entries are easy to overlook in exported statements.
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Scenario checkpoint
- Note the funding rate and countdown above the chart before opening any perpetual position.
- Multiply position value by the rate and expected settlements to estimate total funding cost.
- Filter futures transaction history by funding fee after each settlement and compare with your estimate.
- Record each funding entry in a spreadsheet with the peso conversion rate used that day.