What positive and negative funding rates mean
The rate of the periodic payment between longs and shorts on a perpetual contract. When it is positive, longs pay shorts. When it is negative, shorts pay longs.
What the sign means
A positive rate means longs pay shorts, usually because the perpetual trades above spot and longs outnumber shorts. A negative rate means shorts pay longs, usually because the perpetual trades below spot and shorts outnumber longs. The sign describes current positioning and on its own cannot tell you which way price moves next. See What is the funding rate.
In the product
The Funding rate page in Z Market Lab lists the live funding rate, settlement interval and next settlement time by asset and exchange. The market monitor shows the 8h equivalent net funding of each opportunity. ZML Trade books the funding fee from each settlement into the combo’s PnL.
How to read it
Check the settlement interval first: 0.01% every hour is eight times 0.01% every 8 hours. Convert rates to the same period before comparing them. See What is the funding rate and How often funding settles and how to annualize it.