Bybit DRIFT/USDT Funding Rate

DRIFT/USDT on Bybit has maintained a 95.9% positive rate frequency across 517 funding settlements since 2024-05-21. This translates to an annualized yield of -3.26% for delta-neutral positions.

The funding rate ranged from a low of -2% to a high of 0.0144% per settlement period. With 8-hour intervals, Bybit settles this pair 3 times per day — each settlement is a tradeable event.

The consistently high positive rate (95.9%) indicates persistent long-side demand for DRIFTperpetual futures. This creates a structural alpha for short-side collectors — and a highly predictable binary market for Settled traders. When the current rate is positive, there is historically >95% probability the next settlement will also be positive.

Funding rates are periodic payments between long and short traders on perpetual futures contracts. When the rate is positive, longs pay shorts — indicating bullish sentiment and excess leverage on the long side. When negative, shorts pay longs.

Bybit settles DRIFT/USDT funding every 8 hours. The rate is determined by the premium/discount between the perpetual contract price and the spot index price. Over 517 historical settlements, we observe a strong positive bias — making this pair highly predictable for Settled markets.