How to Track Funding Rates on dYdX
Risk warning. Trading perpetual futures and other leveraged crypto-asset products is high risk. A large share of retail traders lose money, so never trade with money you cannot afford to lose entirely. Disclaimer
dYdX’s hourly funding rate isn’t a live snapshot of the current premium, it’s calculated at the end of each hour as the average of premiums collected across the preceding 60 minutes, which means the rate you see already reflects an hour of history, not just the current instant.
This guide is part of TradeOnDEX’s dYdX how-to series within Perpetual Futures.
Disclosure: TradeOnDEX may earn a commission from links to dYdX on this page, at no extra cost to you. Full details at the end of this article.
How the premium and funding rate are actually calculated
For markets with no interest rate component, the funding rate is simply the one-hour premium. Premium itself is calculated per market using a specific formula comparing the impact bid and ask prices against the index price: Premium = (Max(0, Impact Bid Price − Index Price) − Max(0, Index Price − Impact Ask Price)) / Index Price.
This means for you, concretely: the funding rate reflects how far dYdX’s own market price has been trading away from the external index price over the past hour, a persistent premium in either direction (dYdX trading above or below the broader market reference) is what actually drives the funding payment, not an arbitrary or centrally set number.
How to check current and historical funding, step by step
- Click the Funding tab at the top of the trade page to view current funding rates across markets.
- Check your own funding payment history under Portfolio → History → Funding on the dYdX frontend.
- For deeper historical analysis beyond what dYdX’s own interface shows, third-party tools like CoinGlass and Coinalyze track DYDX funding rate history, often alongside comparable data from other exchanges.
Risk: what to understand about funding as an ongoing cost or payment
Funding is charged hourly, continuously, for as long as a position stays open. This isn’t a one-time fee, a position held for many hours accumulates funding payments repeatedly, in whichever direction the market’s premium happens to be running, and this compounds the impact of holding a position through a sustained one-directional funding period.
The rate you see reflects the past hour, not a live, instantaneous number. Since it’s calculated from an average over the preceding 60 minutes, a rapid shift in market conditions right now won’t be reflected in the displayed funding rate until the next hourly calculation completes.
Whether you pay or receive funding depends on your position direction and the premium’s sign. A persistent premium in one direction means positions on one side pay, and positions on the other side receive. Check which side of the current premium your specific position falls on, rather than assuming funding always works against you.
Third-party historical trackers aggregate independently and may present data slightly differently from dYdX’s own interface. Cross-reference a third-party source against dYdX’s own funding tab and your own payment history if you notice a discrepancy, rather than assuming either source is automatically the more accurate one.
Where to check funding data
| Source | What it shows |
|---|---|
| dYdX Funding tab | Current funding rates across markets |
| Portfolio → History → Funding | Your own actual funding payment history |
| CoinGlass, Coinalyze | Independent historical funding-rate tracking, often cross-exchange |
See it for yourself
Check the Funding tab before opening a position you plan to hold for an extended period, and revisit your own funding payment history under Portfolio → History periodically to see the real cumulative effect on a position you’ve held for a while.
Frequently asked questions
Is dYdX’s displayed funding rate live and instantaneous?
No, it’s calculated at the end of each hour as the average of premiums collected over the preceding 60 minutes, so it reflects recent history rather than a live instant.
How often is funding actually charged?
Hourly, continuously, for as long as a position remains open, it’s not a one-time fee.
Where can I see my own historical funding payments on dYdX?
Under Portfolio → History → Funding on the dYdX frontend.
Are there tools for deeper historical funding-rate analysis beyond dYdX’s own interface?
Yes, third-party sites like CoinGlass and Coinalyze track historical DYDX funding rates, often alongside comparable data from other platforms.
Affiliate disclosure
TradeOnDEX may earn a commission if you sign up or trade through a link on this page, at no extra cost to you. dYdX’s own affiliate/referral terms are still being confirmed for this site, so links here are direct and untracked for now. This article is educational and is not financial advice. See our disclaimer for the full risk warning.
Risk warning
Trading crypto assets, and leveraged products based on them such as perpetual futures ("perps"), is high risk. A large share of retail traders lose money on these products. Leverage magnifies gains and losses alike and can push your loss beyond the amount you put in. Positions can be closed automatically (liquidation) before you get a chance to react, and some of the platforms we cover offer no negative balance protection.
Never trade with money you cannot afford to lose entirely. TradeOnDEX gives no investment advice, no personal recommendation, and no guarantee of any outcome. Every decision you make is your own decision and your own responsibility.