# Perpetual Futures Funding Rates ⎊ Term **Published:** 2025-12-15 **Author:** Greeks.live **Categories:** Term --- ![A detailed abstract 3D render shows multiple layered bands of varying colors, including shades of blue and beige, arching around a vibrant green sphere at the center. The composition illustrates nested structures where the outer bands partially obscure the inner components, creating depth against a dark background](https://term.greeks.live/wp-content/uploads/2025/12/structured-finance-framework-for-digital-asset-tokenization-and-risk-stratification-in-decentralized-derivatives-markets.jpg) ![A futuristic, high-tech object with a sleek blue and off-white design is shown against a dark background. The object features two prongs separating from a central core, ending with a glowing green circular light](https://term.greeks.live/wp-content/uploads/2025/12/advanced-algorithmic-trading-system-visualizing-dynamic-high-frequency-execution-and-options-spread-volatility-arbitrage-mechanisms.jpg) ## Essence The [funding rate](https://term.greeks.live/area/funding-rate/) is the core mechanism that tethers the price of a [perpetual futures contract](https://term.greeks.live/area/perpetual-futures-contract/) to its underlying spot index price. This mechanism eliminates the need for [contract expiration](https://term.greeks.live/area/contract-expiration/) dates, allowing traders to hold positions indefinitely. The funding rate is a periodic payment exchanged between long and short position holders. When the [perpetual contract price](https://term.greeks.live/area/perpetual-contract-price/) trades above the spot price, longs pay shorts; when it trades below, shorts pay longs. This payment creates a continuous incentive for arbitrageurs to enter the market and push the perpetual price back toward parity with the spot index. The funding rate essentially represents the cost of carrying a position in a non-expiring derivative, acting as a dynamic equilibrium mechanism that prevents the perpetual contract from diverging significantly from its reference asset. > The funding rate functions as a continuous, peer-to-peer incentive mechanism designed to align the price of a non-expiring futures contract with its underlying spot market value. The funding rate calculation ⎊ a seemingly simple formula ⎊ hides a deep game-theoretic incentive structure. It quantifies the market’s current sentiment and leverage imbalance. A positive funding rate indicates that the majority of market participants are paying to maintain long positions, reflecting strong bullish sentiment and a high demand for leverage on the long side. Conversely, a negative funding rate indicates that shorts are paying longs, signaling bearish sentiment and a high demand for short positions. This rate, therefore, provides a real-time signal of market positioning and potential for mean reversion. ![A detailed close-up shows the internal mechanics of a device, featuring a dark blue frame with cutouts that reveal internal components. The primary focus is a conical tip with a unique structural loop, positioned next to a bright green cartridge component](https://term.greeks.live/wp-content/uploads/2025/12/decentralized-finance-synthetic-assets-automated-market-maker-mechanism-and-risk-hedging-operations.jpg) ![A high-resolution 3D render displays a stylized, angular device featuring a central glowing green cylinder. The device’s complex housing incorporates dark blue, teal, and off-white components, suggesting advanced, precision engineering](https://term.greeks.live/wp-content/uploads/2025/12/decentralized-finance-smart-contract-architecture-collateral-debt-position-risk-engine-mechanism.jpg) ## Origin The concept of [perpetual futures](https://term.greeks.live/area/perpetual-futures/) originated as a solution to a fundamental problem in [traditional futures](https://term.greeks.live/area/traditional-futures/) markets: contract expiration and rollover. In traditional finance, [futures](https://term.greeks.live/area/futures/) contracts have a specific expiration date, requiring traders to either close their position or “roll over” to the next contract period. This process introduces capital inefficiency, slippage, and operational overhead. The invention of the perpetual future sought to eliminate this friction by replacing the fixed expiration date with a continuous payment mechanism. The initial design for the crypto perpetual contract, popularized by BitMEX, adapted the traditional futures concept to a 24/7 digital asset market. The core innovation was the introduction of the funding rate as a continuous, dynamic incentive. Instead of having a single point of expiration where prices must converge, the funding rate ensures that convergence happens continuously throughout the contract’s life. This design allows for a more capital-efficient market where traders can maintain leveraged exposure without the constant need to manage contract expiry. The [funding rate mechanism](https://term.greeks.live/area/funding-rate-mechanism/) essentially transforms the cost of carry ⎊ which in traditional markets is determined by [interest rates](https://term.greeks.live/area/interest-rates/) and time to expiration ⎊ into a dynamic variable based on real-time market sentiment. ![A high-resolution abstract render presents a complex, layered spiral structure. Fluid bands of deep green, royal blue, and cream converge toward a dark central vortex, creating a sense of continuous dynamic motion](https://term.greeks.live/wp-content/uploads/2025/12/multi-layered-risk-aggregation-illustrating-cross-chain-liquidity-vortex-in-decentralized-synthetic-derivatives.jpg) ![This abstract visualization features multiple coiling bands in shades of dark blue, beige, and bright green converging towards a central point, creating a sense of intricate, structured complexity. The visual metaphor represents the layered architecture of complex financial instruments, such as Collateralized Loan Obligations CLOs in Decentralized Finance](https://term.greeks.live/wp-content/uploads/2025/12/collateralized-debt-obligation-tranche-structure-visualized-representing-waterfall-payment-dynamics-in-decentralized-finance.jpg) ## Theory The [funding rate calculation](https://term.greeks.live/area/funding-rate-calculation/) is derived from two components: the premium index and the interest rate component. The primary driver of the funding rate in most crypto perpetuals is the premium index. This index measures the difference between the perpetual contract’s price (the Mark Price) and the underlying [spot index price](https://term.greeks.live/area/spot-index-price/) (the Index Price). The interest rate component, which is standard in traditional finance, is often a fixed, low percentage in crypto markets and less significant in determining the overall rate. The formula for the [premium index](https://term.greeks.live/area/premium-index/) is: **Premium Index = (Mark Price – Index Price) / Index Price**. This value is then typically smoothed over a period, often an hour, to prevent short-term volatility from causing extreme funding rate swings. The funding rate calculation uses this smoothed premium index to determine the payment amount. The rate is calculated and paid periodically, most commonly every eight hours. When the Mark Price exceeds the Index Price, the premium index is positive, resulting in a positive funding rate where longs pay shorts. This creates an arbitrage opportunity: a trader can buy the [underlying asset](https://term.greeks.live/area/underlying-asset/) on the [spot market](https://term.greeks.live/area/spot-market/) and simultaneously sell the perpetual contract, locking in the premium and collecting the funding rate. The act of selling the perpetual contract pushes its price down, forcing convergence back to the spot price. > The funding rate’s calculation relies on the principle of mean reversion, where the premium or discount between the perpetual and spot prices triggers an arbitrage incentive that restores price parity. The [game theory](https://term.greeks.live/area/game-theory/) of this mechanism dictates that arbitrageurs, seeking risk-free yield, will continuously close the gap between the perpetual and spot prices. This behavior ensures that the funding rate remains within a reasonable range. If the funding rate becomes extremely high, the arbitrage opportunity becomes more attractive, bringing more capital into the market to short the perpetual, which in turn reduces the premium and lowers the funding rate. This feedback loop creates a self-regulating system for [price discovery](https://term.greeks.live/area/price-discovery/) and capital allocation. ![A cutaway view reveals the intricate inner workings of a cylindrical mechanism, showcasing a central helical component and supporting rotating parts. This structure metaphorically represents the complex, automated processes governing structured financial derivatives in cryptocurrency markets](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-execution-architecture-for-decentralized-perpetual-swaps-and-structured-options-pricing-mechanism.jpg) ![A detailed cross-section of a high-tech cylindrical mechanism reveals intricate internal components. A central metallic shaft supports several interlocking gears of varying sizes, surrounded by layers of green and light-colored support structures within a dark gray external shell](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-execution-infrastructure-for-decentralized-finance-smart-contract-risk-management-frameworks-utilizing-automated-market-making-principles.jpg) ## Approach Market participants approach [funding rates](https://term.greeks.live/area/funding-rates/) from two perspectives: as a cost of leverage or as a source of yield. For traders using perpetuals for directional speculation, the funding rate is simply a cost or benefit that adjusts their profit and loss. For example, a long position in a bull market will frequently incur a cost due to positive funding rates. This cost must be factored into the trade’s overall profitability, especially for long-term positions. The strategic approach involves funding rate arbitrage, often referred to as a “cash-and-carry” trade. This strategy involves simultaneously buying the underlying asset on the spot market and shorting the perpetual contract on the derivatives exchange. The goal is to collect the positive funding rate payments while being hedged against price movements. The profit potential depends on the funding rate’s magnitude and duration, but it is not without risk. Key risks associated with funding rate arbitrage: - **Liquidation Risk:** The perpetual contract requires collateral (margin). While the spot position hedges against price changes, extreme volatility or “slippage” during market dislocations can cause the perpetual price to temporarily diverge significantly from the spot price, potentially leading to liquidation of the short position before the arbitrageur can adjust their margin. - **Basis Risk:** The perpetual contract’s index price may be calculated differently from the spot exchange where the underlying asset is purchased. A sudden divergence in prices between the index calculation and the physical asset’s price can introduce unexpected losses. - **Smart Contract Risk:** In decentralized exchanges (DEXs), the underlying smart contract logic for the funding rate calculation, liquidation engine, or collateral management may contain vulnerabilities. An exploit could lead to a loss of collateral or position value. ![A close-up view shows a dynamic vortex structure with a bright green sphere at its core, surrounded by flowing layers of teal, cream, and dark blue. The composition suggests a complex, converging system, where multiple pathways spiral towards a single central point](https://term.greeks.live/wp-content/uploads/2025/12/dynamic-liquidity-vortex-simulation-illustrating-collateralized-debt-position-convergence-and-perpetual-swaps-market-flow.jpg) ![The image displays an abstract, three-dimensional geometric structure composed of nested layers in shades of dark blue, beige, and light blue. A prominent central cylinder and a bright green element interact within the layered framework](https://term.greeks.live/wp-content/uploads/2025/12/visualizing-defi-structured-products-complex-collateralization-ratios-and-perpetual-futures-hedging-mechanisms.jpg) ## Evolution The funding rate mechanism has undergone significant refinement since its inception. Early models, primarily focused on a simple premium index calculation, proved vulnerable to [market manipulation](https://term.greeks.live/area/market-manipulation/) and volatility spikes. The evolution of protocols has introduced several design improvements aimed at increasing [market stability](https://term.greeks.live/area/market-stability/) and capital efficiency. One major development is the introduction of [dynamic funding rate](https://term.greeks.live/area/dynamic-funding-rate/) caps and floors. Protocols began implementing mechanisms that adjust the funding rate’s maximum value based on market volatility or open interest. This prevents extreme funding rates from causing rapid, destabilizing liquidations. Another area of refinement involves the frequency of funding rate payments. While eight hours remains common, some protocols have moved to more frequent intervals ⎊ as short as every hour or even continuously ⎊ to keep the perpetual price even tighter to the spot price. > The evolution of funding rate mechanisms reflects a continuous effort to balance the efficiency of price convergence with the stability required to manage extreme market volatility. The most significant evolution in decentralized finance (DeFi) has been the move toward more sophisticated oracle systems. Decentralized protocols rely on price feeds from external sources to calculate the index price accurately. The integrity of these oracles is critical. Modern protocols use multiple, aggregated price feeds from various exchanges to reduce the risk of manipulation or single points of failure, ensuring that the funding rate calculation remains robust even during periods of high network congestion or market stress. ![A vibrant green sphere and several deep blue spheres are contained within a dark, flowing cradle-like structure. A lighter beige element acts as a handle or support beam across the top of the cradle](https://term.greeks.live/wp-content/uploads/2025/12/visualizing-dynamic-market-liquidity-aggregation-and-collateralized-debt-obligations-in-decentralized-finance.jpg) ![A high-resolution abstract image captures a smooth, intertwining structure composed of thick, flowing forms. A pale, central sphere is encased by these tubular shapes, which feature vibrant blue and teal highlights on a dark base](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-tokenomics-and-interoperable-defi-protocols-representing-multidimensional-financial-derivatives-and-hedging-mechanisms.jpg) ## Horizon The future trajectory of funding rates will be shaped by two major forces: the expansion of cross-chain liquidity and the increasing pressure from regulatory bodies. As markets fragment across multiple blockchains, a new challenge arises: how to calculate a truly global index price for a perpetual contract when liquidity for the underlying asset is spread across several different ecosystems. This requires new cross-chain oracle designs and inter-protocol communication standards to ensure that funding rates accurately reflect global market sentiment. The regulatory environment presents a different challenge. Regulators are beginning to view perpetual futures as complex financial instruments that require specific oversight. The “cost of leverage” represented by the funding rate may be subject to new regulations, particularly regarding consumer protection and market manipulation. This could force protocols to adopt more standardized, less dynamic funding rate models. The next generation of perpetual contracts will likely focus on capital efficiency. We will see the rise of protocols that offer “zero-cost” or “negative-cost” funding rates, where the cost of leverage is subsidized or offset by other protocol revenues. This will shift the dynamics of arbitrage, potentially creating a new class of derivative products where the funding rate itself becomes a tradable asset. The systemic implications of these innovations are profound, moving the market from a system where funding rates are a necessary cost of doing business to one where they are a tool for optimized capital deployment across diverse, interconnected markets. ![This stylized rendering presents a minimalist mechanical linkage, featuring a light beige arm connected to a dark blue arm at a pivot point, forming a prominent V-shape against a gradient background. Circular joints with contrasting green and blue accents highlight the critical articulation points of the mechanism](https://term.greeks.live/wp-content/uploads/2025/12/v-shaped-leverage-mechanism-in-decentralized-finance-options-trading-and-synthetic-asset-structuring.jpg) ## Glossary ### [Gas Futures](https://term.greeks.live/area/gas-futures/) [![A high-resolution 3D render displays an intricate, futuristic mechanical component, primarily in deep blue, cyan, and neon green, against a dark background. The central element features a silver rod and glowing green internal workings housed within a layered, angular structure](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-liquidation-engine-mechanism-for-decentralized-options-protocol-collateral-management-framework.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-liquidation-engine-mechanism-for-decentralized-options-protocol-collateral-management-framework.jpg) Instrument ⎊ Gas futures are financial derivatives contracts where the underlying asset is the cost of transaction fees, or gas, required to execute operations on a blockchain network. ### [Funding Payment Frequency](https://term.greeks.live/area/funding-payment-frequency/) [![The sleek, dark blue object with sharp angles incorporates a prominent blue spherical component reminiscent of an eye, set against a lighter beige internal structure. A bright green circular element, resembling a wheel or dial, is attached to the side, contrasting with the dark primary color scheme](https://term.greeks.live/wp-content/uploads/2025/12/precision-quantitative-risk-modeling-system-for-high-frequency-decentralized-finance-derivatives-protocol-governance.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/precision-quantitative-risk-modeling-system-for-high-frequency-decentralized-finance-derivatives-protocol-governance.jpg) Frequency ⎊ The funding payment frequency denotes the temporal cadence at which settlements occur for imbalances between collateral posted and funding received in perpetual contracts and similar derivatives. ### [Funding Rate Optimization Strategies and Risks](https://term.greeks.live/area/funding-rate-optimization-strategies-and-risks/) [![The abstract digital rendering features a dark blue, curved component interlocked with a structural beige frame. A blue inner lattice contains a light blue core, which connects to a bright green spherical element](https://term.greeks.live/wp-content/uploads/2025/12/a-decentralized-finance-collateralized-debt-position-mechanism-for-synthetic-asset-structuring-and-risk-management.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/a-decentralized-finance-collateralized-debt-position-mechanism-for-synthetic-asset-structuring-and-risk-management.jpg) Algorithm ⎊ Funding rate optimization strategies involve the systematic adjustment of positions to capitalize on the differential between perpetual contract funding rates and spot market prices, aiming to generate positive carry. ### [Funding Rate Impact on Traders](https://term.greeks.live/area/funding-rate-impact-on-traders/) [![An abstract 3D render depicts a flowing dark blue channel. Within an opening, nested spherical layers of blue, green, white, and beige are visible, decreasing in size towards a central green core](https://term.greeks.live/wp-content/uploads/2025/12/layered-architecture-of-synthetic-asset-protocols-and-advanced-financial-derivatives-in-decentralized-finance.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/layered-architecture-of-synthetic-asset-protocols-and-advanced-financial-derivatives-in-decentralized-finance.jpg) Impact ⎊ Funding rate mechanisms, prevalent in perpetual swap contracts, directly influence trader profitability by representing the periodic cost or reward for holding a position. ### [Futures Margining](https://term.greeks.live/area/futures-margining/) [![A high-resolution, abstract 3D rendering showcases a futuristic, ergonomic object resembling a clamp or specialized tool. The object features a dark blue matte finish, accented by bright blue, vibrant green, and cream details, highlighting its structured, multi-component design](https://term.greeks.live/wp-content/uploads/2025/12/decentralized-finance-collateralized-debt-position-mechanism-representing-risk-hedging-liquidation-protocol.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/decentralized-finance-collateralized-debt-position-mechanism-representing-risk-hedging-liquidation-protocol.jpg) Margin ⎊ Futures margining is the process of requiring collateral from traders to cover potential losses on futures contracts. ### [Cash Settled Gas Futures](https://term.greeks.live/area/cash-settled-gas-futures/) [![A futuristic, digitally rendered object is composed of multiple geometric components. The primary form is dark blue with a light blue segment and a vibrant green hexagonal section, all framed by a beige support structure against a deep blue background](https://term.greeks.live/wp-content/uploads/2025/12/financial-engineering-abstract-representing-structured-derivatives-smart-contracts-and-algorithmic-liquidity-provision-for-decentralized-exchanges.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/financial-engineering-abstract-representing-structured-derivatives-smart-contracts-and-algorithmic-liquidity-provision-for-decentralized-exchanges.jpg) Gas ⎊ Cash-settled gas futures, within the context of cryptocurrency derivatives, represent a financial instrument where the settlement value is derived from a benchmark natural gas price index rather than physical delivery of the commodity. ### [Futures Price](https://term.greeks.live/area/futures-price/) [![A close-up view of a stylized, futuristic double helix structure composed of blue and green twisting forms. Glowing green data nodes are visible within the core, connecting the two primary strands against a dark background](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-blockchain-protocol-architecture-illustrating-cryptographic-primitives-and-network-consensus-mechanisms.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-blockchain-protocol-architecture-illustrating-cryptographic-primitives-and-network-consensus-mechanisms.jpg) Price ⎊ The futures price represents the agreed-upon price for buying or selling an underlying asset at a specified future date. ### [Futures Funding Rates](https://term.greeks.live/area/futures-funding-rates/) [![A dark, abstract digital landscape features undulating, wave-like forms. The surface is textured with glowing blue and green particles, with a bright green light source at the central peak](https://term.greeks.live/wp-content/uploads/2025/12/dynamic-visualization-of-high-frequency-trading-market-volatility-and-price-discovery-in-decentralized-financial-derivatives.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/dynamic-visualization-of-high-frequency-trading-market-volatility-and-price-discovery-in-decentralized-financial-derivatives.jpg) Incentive ⎊ The funding rate mechanism serves as the primary economic incentive designed to align the price of a perpetual futures contract with its underlying spot index price. ### [Perpetual Swap Design](https://term.greeks.live/area/perpetual-swap-design/) [![This abstract illustration shows a cross-section view of a complex mechanical joint, featuring two dark external casings that meet in the middle. The internal mechanism consists of green conical sections and blue gear-like rings](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-collateralization-visualization-for-decentralized-derivatives-protocols-and-perpetual-futures-market-mechanics.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-collateralization-visualization-for-decentralized-derivatives-protocols-and-perpetual-futures-market-mechanics.jpg) Contract ⎊ Perpetual swap design defines a derivative contract that allows traders to speculate on an asset's price without a fixed expiration date. ### [Decentralized Perpetual Options Architecture](https://term.greeks.live/area/decentralized-perpetual-options-architecture/) [![A close-up view shows swirling, abstract forms in deep blue, bright green, and beige, converging towards a central vortex. The glossy surfaces create a sense of fluid movement and complexity, highlighted by distinct color channels](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-strategy-interoperability-visualization-for-decentralized-finance-liquidity-pooling-and-complex-derivatives-pricing.jpg)](https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-strategy-interoperability-visualization-for-decentralized-finance-liquidity-pooling-and-complex-derivatives-pricing.jpg) Architecture ⎊ Decentralized perpetual options architecture represents a novel approach to derivatives trading that combines the features of traditional options with the continuous nature of perpetual futures contracts. ## Discover More ### [Funding Rate Volatility](https://term.greeks.live/term/funding-rate-volatility/) ![This abstract rendering illustrates the intricate mechanics of a DeFi derivatives protocol. The core structure, composed of layered dark blue and white elements, symbolizes a synthetic structured product or a multi-legged options strategy. The bright green ring represents the continuous cycle of a perpetual swap, signifying liquidity provision and perpetual funding rates. This visual metaphor captures the complexity of risk management and collateralization within advanced financial engineering for cryptocurrency assets, where market volatility and hedging strategies are intrinsically linked.](https://term.greeks.live/wp-content/uploads/2025/12/decentralized-perpetual-contracts-mechanism-visualizing-synthetic-derivatives-collateralized-in-a-cross-chain-environment.jpg) Meaning ⎊ Funding rate volatility represents the fluctuating cost of carry in perpetual futures, acting as a key source of basis risk for option pricing and market making. ### [Interest Rate Model](https://term.greeks.live/term/interest-rate-model/) ![A stylized cylindrical object with multi-layered architecture metaphorically represents a decentralized financial instrument. The dark blue main body and distinct concentric rings symbolize the layered structure of collateralized debt positions or complex options contracts. The bright green core represents the underlying asset or liquidity pool, while the outer layers signify different risk stratification levels and smart contract functionalities. This design illustrates how settlement protocols are embedded within a sophisticated framework to facilitate high-frequency trading and risk management strategies on a decentralized ledger network.](https://term.greeks.live/wp-content/uploads/2025/12/complex-decentralized-financial-derivative-structure-representing-layered-risk-stratification-model.jpg) Meaning ⎊ The Interest Rate Model in crypto options addresses the challenge of pricing derivatives where the cost of carry is a highly stochastic, endogenous variable determined by decentralized lending and staking protocols rather than a stable, external risk-free rate. ### [Open Interest](https://term.greeks.live/term/open-interest/) ![A complex geometric structure visually represents the architecture of a sophisticated decentralized finance DeFi protocol. The intricate, open framework symbolizes the layered complexity of structured financial derivatives and collateralization mechanisms within a tokenomics model. The prominent neon green accent highlights a specific active component, potentially representing high-frequency trading HFT activity or a successful arbitrage strategy. This configuration illustrates dynamic volatility and risk exposure in options trading, reflecting the interconnected nature of liquidity pools and smart contract functionality.](https://term.greeks.live/wp-content/uploads/2025/12/conceptual-modeling-of-advanced-tokenomics-structures-and-high-frequency-trading-strategies-on-options-exchanges.jpg) Meaning ⎊ Open Interest quantifies the total outstanding leverage in a derivatives market, serving as a critical indicator of systemic risk and potential volatility triggers. ### [Open Interest Analysis](https://term.greeks.live/term/open-interest-analysis/) ![A detailed visualization of a layered structure representing a complex financial derivative product in decentralized finance. The green inner core symbolizes the base asset collateral, while the surrounding layers represent synthetic assets and various risk tranches. A bright blue ring highlights a critical strike price trigger or algorithmic liquidation threshold. This visual unbundling illustrates the transparency required to analyze the underlying collateralization ratio and margin requirements for risk mitigation within a perpetual futures contract or collateralized debt position. The structure emphasizes the importance of understanding protocol layers and their interdependencies.](https://term.greeks.live/wp-content/uploads/2025/12/layered-protocol-architecture-analysis-revealing-collateralization-ratios-and-algorithmic-liquidation-thresholds-in-decentralized-finance-derivatives.jpg) Meaning ⎊ Open Interest Analysis measures total outstanding derivative contracts, providing insight into market leverage, liquidity concentration, and potential systemic risk points. ### [Perpetual Swap Funding Rate](https://term.greeks.live/term/perpetual-swap-funding-rate/) ![This abstract visual represents the complex smart contract logic underpinning decentralized options trading and perpetual swaps. The interlocking components symbolize the continuous liquidity pools within an Automated Market Maker AMM structure. The glowing green light signifies real-time oracle data feeds and the calculation of the perpetual funding rate. This mechanism manages algorithmic trading strategies through dynamic volatility surfaces, ensuring robust risk management within the DeFi ecosystem's composability framework. This intricate structure visualizes the interconnectedness required for a continuous settlement layer in non-custodial derivatives.](https://term.greeks.live/wp-content/uploads/2025/12/decentralized-finance-protocol-mechanics-illustrating-automated-market-maker-liquidity-and-perpetual-funding-rate-calculation.jpg) Meaning ⎊ The Perpetual Swap Funding Rate serves as the core mechanism to align perpetual futures contract prices with underlying spot assets through periodic payments between long and short positions. ### [Interest Rate Index](https://term.greeks.live/term/interest-rate-index/) ![A layered abstract structure representing a sophisticated DeFi primitive, such as a Collateralized Debt Position CDP or a structured financial product. Concentric layers denote varying collateralization ratios and risk tranches, demonstrating a layered liquidity pool structure. The dark blue core symbolizes the base asset, while the green element represents an oracle feed or a cross-chain bridging protocol facilitating asset movement and enabling complex derivatives trading. This illustrates the intricate mechanisms required for risk mitigation and risk-adjusted returns in decentralized finance.](https://term.greeks.live/wp-content/uploads/2025/12/visualizing-defi-structured-products-complex-collateralization-ratios-and-perpetual-futures-hedging-mechanisms.jpg) Meaning ⎊ The Decentralized Funding Rate Index (DFRI) serves as a composite benchmark for on-chain capital costs, enabling the creation of advanced interest rate derivatives for risk management. ### [Arbitrage Feedback Loops](https://term.greeks.live/term/arbitrage-feedback-loops/) ![A visual metaphor for the intricate non-linear dependencies inherent in complex financial engineering and structured products. The interwoven shapes represent synthetic derivatives built upon multiple asset classes within a decentralized finance ecosystem. This complex structure illustrates how leverage and collateralized positions create systemic risk contagion, linking various tranches of risk across different protocols. It symbolizes a collateralized loan obligation where changes in one underlying asset can create cascading effects throughout the entire financial derivative structure. This image captures the interconnected nature of multi-asset trading strategies.](https://term.greeks.live/wp-content/uploads/2025/12/interdependent-structured-derivatives-and-collateralized-debt-obligations-in-decentralized-finance-protocol-architecture.jpg) Meaning ⎊ Arbitrage feedback loops enforce price convergence across crypto options and derivatives markets, acting as a dynamic mechanism for efficiency and liquidity. ### [On-Chain Arbitrage](https://term.greeks.live/term/on-chain-arbitrage/) ![A detailed abstract 3D render displays a complex assembly of geometric shapes, primarily featuring a central green metallic ring and a pointed, layered front structure. This composition represents the architecture of a multi-asset derivative product within a Decentralized Finance DeFi protocol. The layered structure symbolizes different risk tranches and collateralization mechanisms used in a Collateralized Debt Position CDP. The central green ring signifies a liquidity pool, an Automated Market Maker AMM function, or a real-time oracle network providing data feed for yield generation and automated arbitrage opportunities across various synthetic assets.](https://term.greeks.live/wp-content/uploads/2025/12/multilayered-collateralized-debt-position-architecture-for-synthetic-asset-arbitrage-and-volatility-tranches.jpg) Meaning ⎊ On-chain arbitrage exploits price discrepancies across decentralized exchanges using atomic transactions, ensuring market efficiency by quickly aligning prices between derivatives and their underlying assets. ### [Interest Rate Risk Management](https://term.greeks.live/term/interest-rate-risk-management/) ![A multi-layered structure representing the complex architecture of decentralized financial instruments. The nested elements visually articulate the concept of synthetic assets and multi-collateral mechanisms. The inner layers symbolize a risk stratification framework, where underlying assets and liquidity pools are contained within broader derivative shells. This visualization emphasizes composability and the cascading effects of volatility across different protocol layers. The interplay of colors suggests the dynamic balance between underlying value and potential profit/loss in complex options strategies.](https://term.greeks.live/wp-content/uploads/2025/12/an-in-depth-view-of-multi-protocol-liquidity-structures-illustrating-collateralization-and-risk-stratification-in-defi-options-trading.jpg) Meaning ⎊ Interest rate risk in crypto options involves managing the sensitivity of derivative valuations to the volatile lending rates and perpetual funding rates unique to decentralized markets. --- ## Raw Schema Data ```json { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://term.greeks.live" }, { "@type": "ListItem", "position": 2, "name": "Term", "item": "https://term.greeks.live/term/" }, { "@type": "ListItem", "position": 3, "name": "Perpetual Futures Funding Rates", "item": "https://term.greeks.live/term/perpetual-futures-funding-rates/" } ] } ``` ```json { "@context": "https://schema.org", "@type": "Article", "mainEntityOfPage": { "@type": "WebPage", "@id": "https://term.greeks.live/term/perpetual-futures-funding-rates/" }, "headline": "Perpetual Futures Funding Rates ⎊ Term", "description": "Meaning ⎊ The funding rate is a continuous, peer-to-peer payment mechanism that aligns perpetual futures prices with spot market values, serving as the primary tool for managing leverage and capital efficiency in derivatives markets. ⎊ Term", "url": "https://term.greeks.live/term/perpetual-futures-funding-rates/", "author": { "@type": "Person", "name": "Greeks.live", "url": "https://term.greeks.live/author/greeks-live/" }, "datePublished": "2025-12-15T08:24:25+00:00", "dateModified": "2025-12-15T08:24:25+00:00", "publisher": { "@type": "Organization", "name": "Greeks.live" }, "articleSection": [ "Term" ], "image": { "@type": "ImageObject", "url": "https://term.greeks.live/wp-content/uploads/2025/12/algorithmic-smart-contract-core-for-decentralized-finance-perpetual-futures-engine.jpg", "caption": "A precision cutaway view showcases the complex internal components of a high-tech device, revealing a cylindrical core surrounded by intricate mechanical gears and supports. The color palette features a dark blue casing contrasted with teal and metallic internal parts, emphasizing a sense of engineering and technological complexity. This mechanical abstraction metaphorically represents a decentralized autonomous organization's DAO smart contract architecture. The high-precision components illustrate the algorithmic trading logic driving a complex financial derivative like perpetual futures. The central beige cylinder symbolizes the collateralization ratio and asset staking necessary for protocol integrity. The surrounding mechanism reflects the continuous operation of an automated market maker AMM and risk engine, dynamically adjusting funding rates to ensure market equilibrium. The overall structure highlights the structural integrity required for secure and efficient decentralized finance primitives, where protocol governance relies on transparent and automated mechanisms rather than central authority." }, "keywords": [ "Aave Interest Rates", "Adaptive Funding Rate Models", "Adaptive Funding Rates", "Adaptive Rates", "Adoption Rates", "Algorithmic Funding Rate Adjustments", "Algorithmic Interest Rates", "Algorithmic Lending Rates", "Algorithmic Rates", "Algorithmically Determined Rates", "Annualized Funding Rate Yield", "Arbitrage Incentives", "Arbitrageur Behavior", "Asset Utilization Rates", "Asymmetric Funding", "Attack Event Futures", "Attack-Event Futures Contracts", "Automated Solvency Futures", "Basis Risk", "Benchmark Rates", "BitMEX Funding", "Blob Space Futures", "Block Space Futures", "Block Utilization Rates", "Blockchain Technology Adoption Rates", "Blockspace Futures", "Borrowing Rates", "Cancellation Rates", "Capital Efficiency", "Cash and Carry Trade", "Cash Settled Gas Futures", "Cash-Settled Futures", "CME Bitcoin Futures Basis", "CME Futures Contracts", "Collateral Management", "Collateral Utilization Rates", "Collateral-Based Funding", "Collateralized Futures", "Collateralized Lending Rates", "Collateralized Options and Futures", "Commodity Futures", "Commodity Futures Markets", "Commodity Futures Trading Commission", "Compound Interest Rates", "Contagion Futures Market", "Continuous Funding", "Continuous Funding Mechanism", "Continuous Funding Model", "Continuous Funding Payments", "Continuous Funding Rate", "Continuous Funding Rates", "Contract Expiration", "Crash Futures", "Cross-Chain Funding", "Cross-Chain Liquidity", "Cross-Protocol Funding Rates", "Crypto Futures", "Crypto Futures Basis", "Crypto Perpetual Futures", "Cryptographic Security Research Funding", "Dated Futures", "Decentralized Benchmark Rates", "Decentralized Exchange Funding", "Decentralized Exchange Rates", "Decentralized Exchanges", "Decentralized Fee Futures", "Decentralized Finance Ecosystem Growth Rates", "Decentralized Finance Interest Rates", "Decentralized Finance Protocols", "Decentralized Finance Rates", "Decentralized Financial Services Adoption Rates", "Decentralized Funding Rate Index", "Decentralized Interest Rates", "Decentralized Lending Rates", "Decentralized Perpetual Futures", "Decentralized Perpetual Options", "Decentralized Perpetual Options Architecture", "Decentralized Perpetual Protocols", "Decentralized Perpetual Swaps", "Decentralized Technology Adoption Rates", "DeFi Benchmark Rates", "DeFi Interest Rates", "DeFi Lending Rates", "DeFi RFR Futures", "Derivatives Funding Rate Correlation", "Derivatives Markets", "Derivatives Pricing Models", "Difficulty Futures", "Dispute Resolution Funding", "Dynamic Borrowing Rates", "Dynamic Burn Rates", "Dynamic Decay Rates", "Dynamic Funding Mechanisms", "Dynamic Funding Models", "Dynamic Funding Rate", "Dynamic Funding Rate Adjustment", "Dynamic Funding Rate Adjustments", "Dynamic Funding Rates", "Dynamic Interest Rates", "Dynamic Margin Futures", "Endogenous Interest Rates", "Endogenous Rates", "Everlasting Option Funding", "Execution Variance Futures", "Fee Futures", "Fee-Sharing Mechanisms Perpetual Protocols", "Feedback Loops", "Financial Engineering", "Fixed Interval Funding", "Floating Interest Rates", "Foreign Exchange Rates Valuation", "Forward Funding Rate", "Forward Funding Rate Calculation", "Forward Rates", "Funding Arbitrage", "Funding Caps", "Funding Costs", "Funding Fee Calculation", "Funding Fees", "Funding Floors", "Funding Interval", "Funding Mechanism", "Funding Mechanism Dynamics", "Funding Payment Frequency", "Funding Payment Mechanism", "Funding Rate", "Funding Rate Adjustments", "Funding Rate Analysis", "Funding Rate and Systemic Risk", "Funding Rate Arbitrage", "Funding Rate Arbitrage Signals", "Funding Rate as Proxy for Cost", "Funding Rate as Yield Instrument", "Funding Rate Auctions", "Funding Rate Basis Risk", "Funding Rate Basis Trading", "Funding Rate Beta", "Funding Rate Calculation", "Funding Rate Cap", "Funding Rate Caps", "Funding Rate Carry", "Funding Rate Carry Trade", "Funding Rate Cascades", "Funding Rate Changes", "Funding Rate Convergence", "Funding Rate Correlation", "Funding Rate Cost of Carry", "Funding Rate Curve", "Funding Rate Delta", "Funding Rate Derivatives", "Funding Rate Differential", "Funding Rate Differentials", "Funding Rate Discrepancies", "Funding Rate Discrepancy", "Funding Rate Evolution", "Funding Rate Farming", "Funding Rate Feedback Loop", "Funding Rate Future", "Funding Rate Futures", "Funding Rate Gamma", "Funding Rate Gearing", "Funding Rate Greeks", "Funding Rate Hedging", "Funding Rate Impact on Options", "Funding Rate Impact on Skew", "Funding Rate Impact on Traders", "Funding Rate Impact on Trading", "Funding Rate Index Futures", "Funding Rate Indices", "Funding Rate Interval", "Funding Rate Liability", "Funding Rate Macro Drivers", "Funding Rate Manipulation", "Funding Rate Mechanics", "Funding Rate Mechanism Integrity", "Funding Rate Modeling", "Funding Rate Models", "Funding Rate Neutrality", "Funding Rate Optimization", "Funding Rate Optimization and Impact", "Funding Rate Optimization and Impact Analysis", "Funding Rate Optimization Strategies", "Funding Rate Optimization Strategies and Risks", "Funding Rate Options", "Funding Rate Prediction", "Funding Rate Premium", "Funding Rate Reversals", "Funding Rate Skew", "Funding Rate Speculation", "Funding Rate Spike", "Funding Rate Spikes", "Funding Rate Squeeze", "Funding Rate Stability", "Funding Rate Stress", "Funding Rate Synthesis", "Funding Rate Time Series", "Funding Rate Trends", "Funding Rate Vega", "Funding Rate Wars", "Funding Rate Yield", "Funding Rate Yield Curves", "Funding Rates", "Funding Rates Arbitrage", "Funding Rates Correlation", "Funding Rates Mechanism", "Funding Rates Perpetual Options", "Futures", "Futures and Options", "Futures and Options Correlation", "Futures and Options Integration", "Futures Arbitrage", "Futures Basis", "Futures Basis Arbitrage", "Futures Basis Trading", "Futures Clearinghouses", "Futures Contract", "Futures Contract Architecture", "Futures Contract Design", "Futures Contract Margining", "Futures Contract Settlement", "Futures Contract Valuation", "Futures Contracts Clearing", "Futures Contracts Regulation", "Futures Contracts Risk", "Futures Convergence", "Futures Curve", "Futures Exchange Fee Models", "Futures Funding Rate", "Futures Funding Rates", "Futures Hedging", "Futures Hedging Strategies", "Futures Liquidation", "Futures Liquidation Process", "Futures Liquidations", "Futures Margin", "Futures Margining", "Futures Market", "Futures Market Arbitrage", "Futures Market Basis", "Futures Market Clearing", "Futures Market Convergence", "Futures Market Correlation", "Futures Market Design", "Futures Market Dynamics", "Futures Market Funding Rates", "Futures Market Integration", "Futures Market Interplay", "Futures Market Liquidation", "Futures Market Liquidity", "Futures Markets", "Futures Open Interest", "Futures Options", "Futures Options Arbitrage", "Futures Options Convergence", "Futures Options Correlation", "Futures Options Derivatives", "Futures Options Integration", "Futures Options Interplay", "Futures Options Margin", "Futures Options Margin Integration", "Futures Options Netting", "Futures Options Pricing", "Futures Perpetual Swap Hedging", "Futures Positions", "Futures Premium", "Futures Price", "Futures Pricing", "Futures Pricing Models", "Futures Protocols", "Futures Risk", "Futures Settlement", "Futures Spot Basis", "Futures Swaps", "Futures Term Structure", "Futures Trading", "Futures Trading Risk", "Futures-Options Basis Trading", "Futures-Options Interdependence", "Game Theory", "Gamma Futures", "Gas Fee Futures", "Gas Fee Futures Contracts", "Gas Futures", "Gas Futures Contracts", "Gas Futures Hedging", "Gas Futures Market", "Gas Futures Primitives", "Gas Futures Trading", "Gas Price Futures", "Gas Token Futures", "Governance Participation Rates", "Granular Funding Rates", "Greeks in Perpetual Options", "Hedging Strategies", "High Leverage Futures", "High-Leverage Perpetual Swaps", "Illiquidity Futures", "Implied Funding Rate", "Index Based Futures", "Insurance Fund Funding", "Insurance Pool Funding", "Interest Rate Component", "Interest Rate Futures", "Interest Rates", "Interplay with Perpetual Futures", "Interval-Based Funding", "Inverse Futures", "L2 Gas Futures", "Lending Protocol Rates", "Lending Rates", "Leverage Dynamics", "Leveraged Perpetual", "Liquidation Discount Rates", "Liquidation Fee Futures", "Liquidation Futures Instruments", "Liquidation Risk Management", "Long-Term Blockspace Futures", "Macro Interest Rates", "Margin Requirements", "Mark Price Calculation", "Market Efficiency", "Market Imbalance", "Market Manipulation", "Market Microstructure", "Market Sentiment Indicators", "Market Stability", "Mean Reversion Funding Rates", "MEV Futures", "Mining Profitability Futures", "Money Market Rates", "Multi-Asset Funding Pools", "Non-Expiring Futures", "On Chain Rates", "On-Chain Funding Mechanisms", "On-Chain Funding Rates", "On-Chain Interest Rates", "On-Chain Lending Rates", "Open Interest", "Options Funding Rates", "Options on Fixed Rates", "Options on Funding Rate", "Options on Funding Rates", "Options on Futures Contracts", "Options on Perpetual Swaps", "Options-Based Funding Models", "Options-Perpetual Swap Arbitrage", "Oracle Price Feeds", "Oracle Refresh Rates", "Order Cancellation Rates", "Permissioned Funding Pools", "Perp Funding Rate Arbitrage", "Perpetual American Options", "Perpetual Basis", "Perpetual Buy Pressure", "Perpetual Capital Allocation", "Perpetual Competition", "Perpetual Contract Liquidation", "Perpetual Contract Price", "Perpetual Contract Pricing", "Perpetual Contract Safety", "Perpetual Contracts", "Perpetual Contracts Market Analysis", "Perpetual Contracts Strategies", "Perpetual Debt", "Perpetual Demand Creation", "Perpetual Derivatives", "Perpetual Derivatives Exchanges", "Perpetual DEXs", "Perpetual Exchange Architecture", "Perpetual Exchanges", "Perpetual Execution Contracts", "Perpetual Funding Rate", "Perpetual Funding Rates", "Perpetual Future Funding Rates", "Perpetual Future Settlement", "Perpetual Futures Arbitrage", "Perpetual Futures Architecture", "Perpetual Futures Basis", "Perpetual Futures Basis Trade", "Perpetual Futures Basis Trading", "Perpetual Futures Collateral", "Perpetual Futures Competition", "Perpetual Futures Contract", "Perpetual Futures Contracts", "Perpetual Futures Convergence", "Perpetual Futures Correlation", "Perpetual Futures Cross-Margining", "Perpetual Futures Data Feeds", "Perpetual Futures Engines", "Perpetual Futures Equivalence", "Perpetual Futures Exchanges", "Perpetual Futures Funding", "Perpetual Futures Funding Rate", "Perpetual Futures Funding Rates", "Perpetual Futures Hedging", "Perpetual Futures Integration", "Perpetual Futures Interplay", "Perpetual Futures Linkage", "Perpetual Futures Liquidation", "Perpetual Futures Liquidation Logic", "Perpetual Futures Liquidations", "Perpetual Futures Margin", "Perpetual Futures Margining", "Perpetual Futures Market", "Perpetual Futures Market Analysis", "Perpetual Futures Market Analysis and Trading", "Perpetual Futures Market Analysis and Trading Strategies", "Perpetual Futures Markets", "Perpetual Futures Options", "Perpetual Futures Pricing", "Perpetual Futures Proxy Hedge", "Perpetual Futures Reporting", "Perpetual Futures Risk", "Perpetual Futures Risks", "Perpetual Futures Security", "Perpetual Futures Settlement", "Perpetual Futures Skew Correlation", "Perpetual Futures Trading", "Perpetual Futures VAMMs", "Perpetual Hedging", "Perpetual Mark-to-Market", "Perpetual Market Makers", "Perpetual Markets", "Perpetual Motion Machine", "Perpetual Option", "Perpetual Option Architecture", "Perpetual Option Carry Cost", "Perpetual Option Strategies", "Perpetual Options Contracts", "Perpetual Options Cost", "Perpetual Options Evolution", "Perpetual Options Funding", "Perpetual Options Funding Rate", "Perpetual Options Funding Rates", "Perpetual Options Infrastructure", "Perpetual Options Intent", "Perpetual Options Margining", "Perpetual Options Mechanism", "Perpetual Options Notional", "Perpetual Options Platforms", "Perpetual Options Pricing", "Perpetual Options Risk", "Perpetual Options Risks", "Perpetual Options Settlement", "Perpetual Options Strategy", "Perpetual Power Contracts", "Perpetual Price Divergence", "Perpetual Protocol Design", "Perpetual Protocol DEXs", "Perpetual Protocols", "Perpetual Settlement", "Perpetual State Maintenance", "Perpetual Storage", "Perpetual Storage Costs", "Perpetual Structure", "Perpetual Swap", "Perpetual Swap Analysis", "Perpetual Swap Architecture", "Perpetual Swap Basis", "Perpetual Swap Delta", "Perpetual Swap Delta Hedging", "Perpetual Swap Design", "Perpetual Swap Execution", "Perpetual Swap Financing", "Perpetual Swap Funding", "Perpetual Swap Funding Rate", "Perpetual Swap Funding Rates", "Perpetual Swap Gearing", "Perpetual Swap Genesis", "Perpetual Swap Hedging", "Perpetual Swap Liquidation", "Perpetual Swap Markets", "Perpetual Swap Mechanics", "Perpetual Swap Normalization", "Perpetual Swap Open Interest", "Perpetual Swap Platforms", "Perpetual Swap Pricing", "Perpetual Swap Protocols", "Perpetual Swap Risk", "Perpetual Swap Risk Engine", "Perpetual Swap Risk Management", "Perpetual Swap Settlement", "Perpetual Swap Synthesis", "Perpetual Swaps Funding Rate", "Perpetual Swaps Funding Rates", "Perpetual Swaps Gearing", "Perpetual Swaps Hedging", "Perpetual Swaps Implementation", "Perpetual Swaps Integration", "Perpetual Swaps Market Dynamics", "Perpetual Verification", "Perpetual Volatility", "Perpetual Volatility Futures", "Perpetual Volatility Swaps", "Perpetuals Funding Rate", "Perps Funding Rate Volatility", "Power Perpetual", "Power Perpetual Futures", "Premium Index", "Price Convergence Mechanism", "Price Discovery", "Proof Cost Futures", "Proof Cost Futures Contracts", "Protocol Controlled Value Rates", "Protocol Design", "Protocol Fee Funding", "Protocol Specific Rates", "Protocol Utilization Rates", "Protocol-Agnostic Rates", "Protocol-Specific Interest Rates", "Protocol-Specific Lending Rates", "Public Goods Funding", "Public Goods Funding Mechanism", "Quadratic Funding", "Real Estate Futures", "Real-Time Funding Rates", "Regulated Bitcoin Futures", "Regulated Futures Contracts", "Regulatory Oversight", "Risk Modeling in Perpetual Futures", "Risk Transfer Mechanisms", "Risk-Adjusted Funding", "Risk-Adjusted Funding Rates", "Risk-Adjusted Returns", "Risk-Adjusted Variable Interest Rates", "Risk-Free Rates", "Rollover Risk", "Second-Order Effects of Funding Rates", "Security DAOs Funding", "Smart Contract Vulnerabilities", "Spot Futures Parity", "Spot Index Price", "Spot Perpetual Futures Hedging", "Spot Perpetual Options", "Spot Perpetual Spread", "Spot-Futures Basis", "Squared ETH Perpetual", "Stablecoin Lending Rates", "Stochastic Interest Rates", "Stochastic Rates", "Stock Futures", "Synthetic Fixed Rates", "Synthetic Futures", "Synthetic Futures Basis", "Synthetic Futures Position", "Synthetic Gas Fee Futures", "Synthetic Gas Futures", "Synthetic Interest Rates", "Synthetic Rates", "Systemic Risk", "Term Structure of Interest Rates", "Term Structure of Rates", "Token Emission Funding", "Tokenized Funding Streams", "Traditional Futures", "Traditional Futures Contracts", "Utilization Rates", "Variable Borrowing Rates", "Variable DeFi Lending Rates", "Variable Funding Rate", "Variable Funding Rates", "Variable Interest Rates", "Variable Yield Rates", "Variance Futures", "Variance Futures Modeling", "VIX Futures", "Vol-Futures", "Volatile Interest Rates", "Volatility Futures", "Volatility Futures Contracts", "Volatility Futures Settlement", "Volatility Index Futures", "Volatility Perpetual Contracts", "Volatility Spike Futures", "Volatility Spikes", "Yield Futures", "Yield Volatility Futures", "Zero Cost Funding" ] } ``` ```json { "@context": "https://schema.org", "@type": "WebSite", "url": "https://term.greeks.live/", "potentialAction": { "@type": "SearchAction", "target": "https://term.greeks.live/?s=search_term_string", "query-input": "required name=search_term_string" } } ``` --- **Original URL:** https://term.greeks.live/term/perpetual-futures-funding-rates/