COW$0.1329+20.82%Market Cap$78.36M
Circulating Supply575,166,957
Total Supply1,000,000,000
WebsiteWebsite
Explorers
COW$0.1329+20.82%| Exchanges | Funding Rate | APR | 1D Accumulated | Next Funding | Interval | |
|---|---|---|---|---|---|---|
| ΣOI-Weighted | -0.7452% | -1631.95% | -0.5713% | 02:06:44 | 4h | |
| BBinance | -0.6629% | -1451.79% | -0.5807% | 02:06:44 | 4h | Trade |
| BBybit | -0.9579% | -2097.81% | -0.8606% | 02:06:44 | 4h | Trade |
| BBingX | -0.9263% | -2028.60% | -0.8969% | 02:06:44 | 4h | |
| BBitget | -0.5813% | -1273.05% | -0.3708% | 02:06:44 | 4h | Trade |
| MMEXC | -0.6626% | -1451.09% | -0.5770% | 02:06:44 | 4h | Trade |
| KKuCoin | -0.6708% | -1469.05% | -0.4412% | 02:06:44 | 4h | Trade |
| GGate | -0.7129% | -1561.25% | -0.5736% | 02:06:44 | 4h | Trade |
| AAster | -0.6392% | -1399.83% | -0.6984% | 02:06:44 | 4h |
Rates are per settlement interval (1h/4h/8h depending on exchange) and APR annualizes the current rate at that interval. The Accumulated column sums the rate at each settlement over the selected window (1Y uses exchange-reported yearly accumulation). Live rates update about every 10 seconds.
How to read the colors: funding reflects positioning and the cost of leverage, not price direction. Funding is the fee longs pay shorts (negative means shorts pay longs). Green = funding below the neutral baseline (~0.01% per 8h): holding longs is cheap and the market is not crowded long. Gray = the neutral zone around baseline. Red = elevated funding: longs are crowded and paying up, with deeper red meaning a more extreme premium. The Accumulated column is colored by its per-settlement average, so it reads on the same scale as the live rate. Green funding while price falls = no euphoria and longs are cheap to hold — often a constructive contrarian signal. Red funding while price rises = crowded leveraged longs paying high fees — a setup vulnerable to long squeezes.
The current COW USDT perpetual funding rate (4h, OI-weighted) is -1.5119%, meaning shorts are paying longs right now. Across the 8 exchanges reporting a rate, it ranges from -0.9941% on Bybit to -0.5737% on Bitget — a spread that shows how positioning differs venue by venue. A negative rate is the less common state — it appears when perpetuals trade below spot and short positioning dominates. Learn more about how funding rates work →
See the live funding rate matrix for every exchange →
The CoW Protocol funding rate (COW funding rate) is the periodic payment exchanged between longs and shorts on COW perpetual futures. This page charts the OI-weighted CoW Protocol perpetual funding rate (COW perpetual funding rate) against price, plus each exchange's current rate, accumulated funding from one day out to one year, and the countdown to its next settlement.
The headline rate weights every venue by its share of COW open interest, so large markets move the aggregate more than small ones. Venues reporting no data are excluded and figures refresh continuously.
On an OI-weighted basis, COW funding currently sits at -1.5119% — traders holding shorts pay longs until the next settlement (settled every 4 hours on most venues).
Bitget currently prints the highest COW rate at -0.5737%; Bybit sits lowest at -0.9941%. Every venue's current and accumulated rate is listed in the table below.
Every tracked venue settles COW funding every 4 hours. The countdown to each exchange's next settlement runs in the table below.
QTUM
XAN
PROVE
USUAL
ZIL
COTI