The Toad Pepe Funding Rate (TOAD)

The TOAD funding rate is a periodic payment between long and short traders on The Toad Pepe perpetual futures, designed to keep the contract price anchored to the spot index. When the rate is positive, longs pay shorts; when negative, shorts pay longs. It is the main ongoing cost (or income) of holding a leveraged TOAD perpetual position.

A persistently positive TOAD funding rate signals crowded long positioning and bullish sentiment — longs keep paying to stay in the trade. A negative rate signals short-side dominance and bearish sentiment. Extreme funding rates in either direction often indicate an overcrowded trade and raise the risk of a sharp reversal or short squeeze/long squeeze.

As of now, the TOAD funding rate averages 0.0167% across 3 exchanges CoinBoss tracks, and the rate is positive. This figure updates in real time — check the table above for the latest per-exchange breakdown and the OI-weighted composite rate.

Right now bingx shows the highest (or most extreme) TOAD funding rate among tracked exchanges, at 0.0200%. Funding rates can vary meaningfully across exchanges due to differences in order-book premium, index price and leverage demand — creating potential funding rate arbitrage opportunities.