| Exchange | Settlement | Interest rate | Sampling | Rate cap | Structural tilt |
|---|---|---|---|---|---|
| Binance | 8h | 0.03% | Minutes | Uncapped premium | Neutral-to-short |
| BitMEX | 8h | 0.01% | Minutes | Uncapped premium | Neutral |
| Hyperliquid | 1h | 0.01% | 5 seconds | 4%/hour hard cap | Short-friendly |
| dYdX | 8h | 0.00% | 1 minute | Uncapped premium | Long-friendly |
| Deribit | Continuous | Variable | 1 millisecond | — | Neutral |