# When is the funding fee credited/deducted?

The funding fee is typically credited or deducted by the exchange every 8 hours (at 00:00, 08:00, and 16:00 UTC). The actual time of funding fee processing may differ from the scheduled time by up to 1 minute. For example, if a trader opens a position at 08:00:59 UTC, they may still be charged or credited the funding fee. The same rule applies when closing a position. If a position is closed before the exchange processes the funding fee (even if the scheduled time has arrived), the fee will not be credited or deducted.

[**More about funding on Binance**](https://www.binance.com/en/blog/futures/what-are-funding-fees-in-binance-futures-6595842576313788144)\
You can check the current and past funding rates on Binance [here](https://www.binance.com/en/futures/funding-history/perpetual/real-time-funding-rate).

[**More about funding on Bybit**](https://www.bybit.com/en/help-center/article/Funding-fee-calculation)\
You can check the current and past funding rates on Bybit [here](https://www.bybit.com/en/announcement-info/fund-rate/).