Annualized Funding Rate vs Settlement Cadence

The funding rate per settlement period expressed as an annual percentage; calculated as rate per period × settlements per day × 365; used to compare funding cost across different assets and time periods; above 30% annualized indicates crowded long conditions; below -15% indicates crowded short conditions.

The schedule on which funding payments are exchanged between longs and shorts; the standard on most major exchanges (Binance, Bybit, OKX) is every 8 hours — at 00:00, 08:00, and 16:00 UTC.