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Funding is what perp longs and shorts pay each other to hold a position. Shumi turns each coin’s rate into a yearly APR, ranks it against every perp it tracks, and gives the whole market a temperature.

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Get funding for one coin or the market

Bare shumi funding prints help only.

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Read one coin

The tier uses the exact percentile; the response shows it rounded to two decimals, so a displayed 0.80 can still be neutral. --symbol answers for any perp in the snapshot. The market-wide call returns:
  • a fixed watch list of large coins, 43 in the example, sorted by APR
  • market: the market temperature, such as neutral, and the median APR it is read from
  • distribution: p10 to p90, min, max and totalAssets

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Read the market temperature

market.temperature reads the median perp’s funding against the resting rate. Hyperliquid and Variational charge a fixed interest component, so about 10.95% APR is what a perp pays with no crowding at all. Only funding above or below that is positioning. medianPremiumApr is that difference: For example: "temperature":"neutral","medianApr":11,"medianPremiumApr":0. positive, negative and total count the coins on the watch list. Quote medianApr as the market level, not avgApr: one broken market can pull the average anywhere.

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What positive and negative funding cost you

Positive funding: longs pay, shorts receive. Negative funding: shorts pay, longs receive. shumi coin risk BTC spells it out for the coin in funding_paying_side, carry_if_long and carry_if_short, for example “Long perpetual positions pay funding at +11.0% APR.”
Funding applies to perpetual positions only. A spot position pays and receives nothing.
Funding tells you who is crowded and what a held position costs. For timing, pair it with the trend in a signal.

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See funding alerts

API: GET /api/cli/funding/alerts. Agent tool: get_funding_alerts.