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")

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.

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	Description
Invalid signature	EIP-712 signature validation failed
Invalid market symbol	Market symbol not recognized
Nonce already used	Nonce must be greater than previous value
Rate limit exceeded	Too many requests in time window
Request expired	`expiresAfter` timestamp has passed

Endpoint-Specific Errors

Error Code	Error Type	Description	Solution
40002	`INVALID_SYMBOL`	Invalid or unsupported trading symbol	Use valid symbol from getMarkets
50003	`FUNDING_DATA_UNAVAILABLE`	Funding rate data temporarily unavailable	Retry request or check system status

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