Perpetual futures typically use funding payments between longs and shorts on a schedule, to anchor price to spot. Spot margin often charges borrow on the asset you are short or on leverage used. Legacy “forex swap” language maps loosely onto those ideas—but the exact formula and timing are exchange-specific.
Day trading vs holding
Intraday traders may barely see funding or borrow; swing and carry traders should include recurring costs in expectancy.
MyCryptoCal swap calculator
The swap / funding (illustrative) tool applies a simple daily percentage on position in coins for learning—it is not a live funding engine. Use your venue’s funding history for real numbers.
Estimate components with the swap tool, then confirm on your platform before relying on any carry thesis.
Building a simple carry ledger for perps
For swing holds on perpetuals, keep a running column of expected funding per interval next to your thesis. Over a week, funding can rival a modest directional move—especially on crowded one-sided books.
Spot borrow vs perp funding
Shorting spot margin often pays borrow on the coin you are short; perps use funding between longs and shorts. Read the venue docs instead of assuming FX-style “triple swap Wednesday” rules.
- Log funding timestamps in UTC.
- Compare long vs short funding sign for the same contract.
- Track when you crossed the funding boundary by minutes if disputes arise.
Honest expectations
Funding flips with positioning and regime—treat carry as conditional, not permanent income.