Weekly Funding Rate Recap — Mar 30–Apr 05, 2026

Three exchanges. 445 tracked settlements. One clean split in market structure.

Bybit stayed positive on every sampled settlement last week. Binance printed a majority of positive settlements too, but still closed slightly negative on average because its downside spikes were deeper than its upside. KuCoin was the most volatile of the three, with both the strongest positive outlier and the deepest negative print.

Exchange Summary: Mar 30–Apr 05

The headline is simple: positive settlement frequency did not automatically mean positive average funding.

Binance is the clearest example. Nearly two thirds of settlements were positive, yet the weekly average still came in at -0.0052%. That only happens when the negative prints are materially larger than the positive ones. For traders, this is the difference between win rate and payoff distribution.

What Each Exchange Was Telling You

Bybit: steady long bias, no real panic

Bybit recorded 85 settlements and every one of them was positive. The weekly average came in at +0.0161%, with a peak of +0.1481% and a floor still above zero at +0.0003%.

That is unusually clean. It suggests a market where longs were consistently willing to pay, without the kind of forced unwind that produces negative funding cascades. In practical terms, Bybit looked the most orderly of the three venues.

Binance: positive most of the time, dragged down by tail events

Binance had the largest sample with 195 settlements. 65.1% were positive, but the average still landed negative at -0.0052% because the downside tail reached -0.2653%, while the upside only extended to +0.0259%.

That asymmetry matters. It means the bearish dislocations were far more violent than the bullish ones. If you only looked at settlement direction, you would miss the real story.

KuCoin: widest range, most unstable profile

KuCoin sat in the middle on volume with 165 settlements, but showed the broadest two-sided range: +0.1846% at the top and -0.2905% at the bottom.

Its weekly average still finished slightly positive at +0.0043%, with 63.6% of settlements positive. That combination points to a venue where momentum existed, but reversals were sharp enough to keep risk elevated.

The Structural Takeaway

This was not a week of broad market consensus. Each exchange reflected a different regime:

• Bybit looked consistently long-biased
• Binance looked superficially bullish, but with hidden downside stress
• KuCoin looked like the highest-volatility venue, with both strong upside and sharp mean reversion

That is exactly why cross-exchange funding data matters. A single exchange can hide what the broader market is actually doing.

On Settled, these differences are the edge. Markets are built around the next funding outcome, not vague sentiment. When one exchange is persistently positive while another is being dragged lower by tail events, that divergence becomes tradable.

Why This Matters for Funding Rate Traders

There are two big lessons from this week:

1. Positive frequency is not enough. Binance proved that a market can print mostly positive settlements and still average negative if the downside spikes are large enough.
2. Regime matters by venue. Bybit, Binance, and KuCoin were not interchangeable this week. Treating them as one blended market would flatten the signal.

For prediction-market style funding trades, this is where the opportunity sits. The edge is not just whether funding is positive or negative. It is how often, how extreme, and on which exchange.

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Explore the data:

• All Funding Rate Data — live rates across exchanges
• Browse Prediction Markets — trade the next settlement direction
• What Are Funding Rates? — primer for new users
• How to Predict Funding Rates — why tail events matter more than averages alone