Premium Index vs Settlement Cadence

The percentage difference between the mark price and the index price; the primary component of the funding rate calculation; reflects the balance of demand between long and short sides of the perpetual futures market.

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.