Top Funding Rate Movers — Mar 24, 2026

The 24-hour window ending March 24, 2026 (06:00 UTC) captured 8,521 settlements across Binance, Bybit, and KuCoin. Negative funding dominated. The extreme outliers were concentrated on KuCoin's smaller caps — and one symbol, BTRUSDT, printed sharply negative on every exchange simultaneously.

Settlement Summary by Exchange

KuCoin stands out for two reasons: the widest rate spread (-2% to +0.66%) and the lowest positive-rate share at 46.6%. Bybit had the highest — 74.6% of settlements printed positive, which is unusually bullish relative to the average negative drift across both exchanges.

Compared to the 7-day trailing average, today's session showed slight improvement. Across the same three exchanges over the prior week, KuCoin averaged -0.014% (vs. -0.0091% today), Binance -0.0087% (vs. -0.0055%), and Bybit -0.0122% (vs. -0.0098%). All three moved toward neutral — consistent with a modest short squeeze or position unwind rather than new directional selling.

Top Movers — Absolute Rate Magnitude

The -2% rate is KuCoin's hard cap — these aren't organic prints, they're max-floor events. GFUSDT hit it twice in consecutive windows (08:00 and 12:00 UTC). BTRUSDT hit the floor on KuCoin at 16:00 UTC, then printed -1.29% on Bybit and -1.23% on Binance in the same window. That's cross-exchange coordinated negative pressure on the same token — atypical, and worth watching.

Anomalies

BTRUSDT cross-exchange convergence. Three exchanges, same settlement window, all printing extreme negative. This token either had a major news event or a heavily leveraged long position getting liquidated simultaneously across venues. The post-liquidation rebound is visible in the data — KuCoin BTRUSDT printed +0.634% at 20:00 UTC, directly after the -2% floor event at 16:00 UTC.

VOOIUSDT (KuCoin, 1h interval). The 1-hour interval magnifies the APR figure dramatically. -1.02% per hour annualizes to -8,901%. This isn't a real annual yield — it's a single-hour stress event. Two consecutive prints (-1.02% and -0.78%) suggest the position was not fully cleared in the first window.

Positive outliers. DAMUSDT (+0.6638%, KuCoin), IKAUSDT (+0.633%, KuCoin), and BTRUSDT itself flipping positive after the liquidation cascade are the notable long-side prints. All three are KuCoin-native small caps with limited cross-venue depth.

Bybit's Positive Skew

Bybit's 74.6% positive settlement rate is the highest in today's session and above its own 7-day average of 75.5% — barely. But in context, Bybit's average rate today (-0.0098%) is more negative than Binance's (-0.0055%) despite having more positive settlements. This suggests Bybit's negative settlements are more extreme in magnitude when they happen — fewer but harder-hitting negative prints pulling the average down.

The pattern holds broadly: Binance is the most balanced, Bybit is the most bullish-skewed by count, and KuCoin is the highest-volatility venue for rate extremes.

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The cross-exchange BTRUSDT event is the clearest signal in today's data — if the liquidation is resolved, expect rates to normalize toward the 7-day mean over the next 48 hours; if leverage remains elevated, the floor prints will return.

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