Get Funding Rate

Retrieve current funding rates for perpetual markets. This is a public endpoint that returns market-wide funding rate information without requiring authentication.

Endpoint

POST https://papi.synthetix.io/v1/info

Request

Request Format

{
  "params": {
    "action": "getFundingRate",
    "symbol": "BTC-USDT"
  }
}

Request Parameters

Parameter	Type	Required	Description
`params.action`	string	Yes	Must be `"getFundingRate"`
`params.symbol`	string	Yes	Trading pair symbol (e.g., `"BTC-USDT"`). Normalized to canonical uppercase form — lowercase input (e.g., `"btc-usdt"`) is accepted and normalized automatically.

Example Request

cURL

curl -X POST https://papi.synthetix.io/info \
  -H "Content-Type: application/json" \
  -d '{
    "params": {
      "action": "getFundingRate",
      "symbol": "BTC-USDT"
    }
  }'

JavaScript

const response = await fetch('https://papi.synthetix.io/info', {
  method: 'POST',
  headers: {
    'Content-Type': 'application/json',
  },
  body: JSON.stringify({
    params: {
      action: 'getFundingRate',
      symbol: 'BTC-USDT'
    }
  })
});
 
const data = await response.json();
console.log(data);

Python

import requests
 
response = requests.post('https://papi.synthetix.io/info',
    json={
        "params": {
            "action": "getFundingRate",
            "symbol": "BTC-USDT"
        }
    }
)
 
data = response.json()
print(data)

Response

Success Response

{
  "status": "ok",
  "response": {
    "symbol": "BTC-USDT",
    "estimatedFundingRate": "0.000010960225996",
    "lastSettlementRate": "0.00001250",
    "lastSettlementTime": 1735689600000,
    "nextFundingTime": 1735693200000,
    "fundingInterval": 3600000
  },
  "request_id": "5ccf215d37e3ae6d"
}

Funding Rate Object

Field	Type	Description
`symbol`	string	Trading pair symbol (e.g., "BTC-USDT")
`estimatedFundingRate`	string	Estimated funding rate for the next settlement period (1-hour rolling TWAP, not annualized)
`lastSettlementRate`	string	The actual funding rate from the most recent settlement (what users were charged)
`lastSettlementTime`	integer	Unix milliseconds timestamp of when the last funding settlement occurred
`nextFundingTime`	integer	Unix milliseconds timestamp of the next funding settlement
`fundingInterval`	integer	Funding interval in milliseconds (typically 3600000 for 1 hour)

Note: Funding rates are expressed as 1-hour rates.

Understanding the Fields:

estimatedFundingRate: The predicted rate for the upcoming settlement, calculated as a rolling 1-hour TWAP. This is what traders should use to estimate their next funding payment.
lastSettlementRate: The rate that was actually applied at the last settlement. Use this for historical analysis or to verify past funding payments.

Note on lastSettlementTime: For newly listed markets that have not yet had a funding settlement, lastSettlementTime is returned as 0. Check for 0 before interpreting this value as a real settlement timestamp.

Funding Rate Calculation

The funding rate is calculated using:

Premium Rate: Difference between perpetual and spot prices
Interest Rate: Typically 0.01% per 1-hour period
Dampening Factor: Applied to smooth rate changes

Formula: Funding Rate = Premium Rate + clamp(Interest Rate - Premium Rate, -0.05%, 0.05%)

Understanding Funding Payments

Positive funding rate: Long positions pay short positions
Negative funding rate: Short positions pay long positions
Payment frequency: Every 1 hour (hourly basis)
Rate basis: 1-hour rate (multiply by 24 for daily, 1095 for annual)

:::info Rate Limits The Synthetix API enforces rate limits to ensure fair usage and system stability:

Order Placement: 100 orders per second per subaccount
WebSocket Connections: 100 connections per IP address
WebSocket Subscriptions: 1000 subscriptions per IP address

See Rate Limits for detailed information and best practices. :::

Error Responses

Error Code	Description	Retryable
`UNAUTHORIZED`	EIP-712 signature validation failed	No
`VALIDATION_ERROR`	Request validation failed	No
`MISSING_REQUIRED_FIELD`	Required field is missing	No
`INVALID_FORMAT`	Field format is invalid	No
`INVALID_VALUE`	Invalid parameter value	No
`RATE_LIMIT_EXCEEDED`	Too many requests in time window	Yes
`INSUFFICIENT_MARGIN`	Not enough margin for trade	No
`ORDER_NOT_FOUND`	Order does not exist	No
`OPERATION_TIMEOUT`	Operation timed out	Yes

Endpoint-Specific Errors

HTTP Status	Error Code	Description	Solution
400	`VALIDATION_ERROR`	Symbol is missing, empty, or not a valid market symbol format	Provide a valid symbol (e.g., `"BTC-USDT"`). Symbols are accepted in any case and normalized automatically.
404	`NOT_FOUND`	No funding rate data found for the requested symbol	Verify the symbol is an active market using getMarkets

Use Cases

Real-Time Funding Monitoring

// Monitor funding rates for risk management
const symbols = ['BTC-USDT', 'ETH-USDT', 'SOL-USDT'];
const fundingRates = await Promise.all(
  symbols.map(symbol => getFundingRate(symbol))
);

Funding Rate Alerts

// Set up alerts for extreme funding rates
if (Math.abs(parseFloat(fundingRate)) > 0.01) {
  console.log(`High funding rate alert: ${symbol} at ${fundingRate}`);
}

Related Endpoints

Get Funding Payments - User's funding payments history
Get Markets - Available trading pairs
Get Market Prices - Current market prices