Funding Channel

Overview

Funding payments occur when you have an open position and a trade executes (either yours or someone else's that affects the funding rate). This channel provides instant notification of funding settlements, eliminating the need to poll the REST API.

{
  "method": "subscribe",
  "params": {
    "channel": "funding",
    "market_ids": [1, 2]
  }
}

Parameter	Type	Required	Description
`market_ids`	number[]	No	Filter by market IDs. Empty = all markets
`makers`	string[]	No	Filter by account addresses. Empty = authenticated account only

Message Format

Update

Sent when a funding payment is settled on your position.

{
  "channel": "funding",
  "type": "update",
  "market_id": "1",
  "data": {
    "account": "0x1234567890123456789012345678901234567890",
    "funding_payment": "-12340000000000000000",
    "position_size": "1500000000000000000",
    "last_checkpoint": "1230000000000000",
    "new_checkpoint": "1350000000000000"
  },
  "block_number": 33759944,
  "log_index": 42,
  "tx_hash": "0xabc123...",
  "block_timestamp": "1705317000000000000",
  "timestamp": "1705317000123456789"
}

Note: There is no snapshot for the funding channel. Funding payments are events, not state. Use the REST API to query historical funding payments.

Update Message Fields

Field	Type	Description
`channel`	string	Always `"funding"`
`type`	string	Always `"update"`
`market_id`	string	Market ID
`data`	object	Funding payment details
`block_number`	number	Blockchain block number
`log_index`	number	Log index within the block
`tx_hash`	string	Transaction hash
`block_timestamp`	string	Blockchain timestamp (nanoseconds)
`timestamp`	string	Server timestamp (nanoseconds)

Funding Payment Data Fields

Field	Type	Description
`account`	string	Account address
`funding_payment`	string	Funding amount (wei, 18 decimals). See sign convention
`position_size`	string	Position size at settlement (wei, 18 decimals)
`last_checkpoint`	string	Previous accumulated funding checkpoint
`new_checkpoint`	string	New accumulated funding checkpoint

Sign Convention

Sign	Meaning
`positive`	You paid funding (deducted from balance)
`negative`	You received funding (added to balance)

Example: Paying Funding

Long position when funding rate is positive (longs pay shorts):

{
  "funding_payment": "5000000000000000000",
  "position_size": "10000000000000000000"
}

This means: You paid 5 USDC in funding (5 * 10^18 wei).

Example: Receiving Funding

Short position when funding rate is positive (longs pay shorts):

{
  "funding_payment": "-5000000000000000000",
  "position_size": "-10000000000000000000"
}

This means: You received 5 USDC in funding (-5 * 10^18 wei).

Funding Calculation

Funding payment is calculated using the formula:

fundingPayment = (newCheckpoint - lastCheckpoint) * positionSize / 10^18

Where:

newCheckpoint is the accumulated funding rate at settlement
lastCheckpoint is your position's previous funding checkpoint
positionSize is your position size (positive for long, negative for short)

When Funding Settles

Funding payments are calculated and broadcast when:

You execute a trade (open, close, or modify position)
Someone else executes a trade in the same market

The funding is settled based on the time your position was held since the last checkpoint.

Examples

Subscribe to all funding payments

{
  "method": "subscribe",
  "params": {
    "channel": "funding"
  }
}

Subscribe to specific markets

{
  "method": "subscribe",
  "params": {
    "channel": "funding",
    "market_ids": [1, 2]
  }
}

Subscribe to specific accounts (internal only)

{
  "method": "subscribe",
  "params": {
    "channel": "funding",
    "makers": ["0x1234567890123456789012345678901234567890"]
  }
}

Unsubscribe

{
  "method": "unsubscribe",
  "params": {
    "channel": "funding"
  }
}

Authentication

The funding channel requires authentication. Unauthenticated clients cannot subscribe to this channel.

For authenticated users, if no makers filter is specified, the channel automatically filters to your own account's funding payments.

Related Channels

positions - Track your position changes
orders.events - Track order executions that may trigger funding