How does Pepperstone's funding rate work?
Verdict
- Pepperstone's funding rate applies to its perpetual CFDs: the rate is set weekly in advance and applied daily at 5 pm New York time to positions you hold.
- Perpetual CFDs have no expiry and trade 24/7; on the retail margin table of the Bahamas entity that serves Singapore they cover gold, the NAS100, the US500, WTI and Brent oil.
- Ordinary CFDs use an overnight swap instead; the funding rate is the perps version of the cost of holding a position.
- On top of funding, Pepperstone's Australian costs page lists commission of 0.015% per side on most perps and 0.03% on the gold perp.
"Funding rate" at Pepperstone is about one product: perpetual CFDs, launched across the group in 2026. Here is what the rate is, when it is charged, and what else a perp costs.
The mechanics, in Pepperstone's terms
- Set weekly: Pepperstone publishes the funding rate in advance for the week.
- Applied daily: it is charged or credited each day at 5 pm New York time on open positions.
- No expiry: unlike a futures contract or a CFD forward, a perp never rolls over.
- 24/7 trading, and no crypto wallet needed, per Pepperstone.
- Platforms: TradingView, MT5, cTrader and the Pepperstone app.
Affiliate link — we may earn a commission at no extra cost to you.
Funding rate vs overnight swap
| Perpetual CFD | Standard CFD | |
|---|---|---|
| Holding cost | Funding rate | Overnight swap |
| When it is set | Weekly, in advance | Varies with interest rates |
| When it is applied | Daily, 5 pm New York | At the daily rollover |
| Expiry | None | None (forwards do expire) |
| Trading hours | 24/7 | Market hours of the underlying |
What a perp trade costs
Pepperstone's Australian costs page lists commission on perps as a percentage of the position: 0.015% per side on most, 0.03% per side on the gold perp and the MSTR.US perp, with no minimum. On a $50,000 NAS100 perp that is $7.50 to open and $7.50 to close; on a $50,000 gold perp, $15 each way. The spread and the daily funding come on top. Pepperstone's Singapore-facing pages do not restate these rates, so confirm them on your platform before trading.
Who can trade them
On the international site, which serves Singapore through Pepperstone Markets Limited (SCB Bahamas, SIA-F217; no MAS licence), the retail margin table lists five perps: GOLD-PERP, NAS100-PERP, US500-PERP, WTOIL-PERP and BRENTOIL-PERP. In the UK, Pepperstone restricts perps to professional clients. Other perps on single stocks such as NVDA and TSLA appear on group pages, but we have not confirmed they are open to Singapore retail clients.
Before holding a perp for days
- Read the current week's funding rate on the platform; whether you pay or receive depends on the rate and your direction.
- Multiply the daily charge by the days you expect to hold.
- Compare that with the swap on the ordinary CFD of the same market.
Sources
How often is Pepperstone's funding rate charged?
Daily, at 5 pm New York time, using a rate Pepperstone sets a week in advance.
Do perpetual CFDs expire?
No. They have no expiry date and trade 24/7.
Can Singapore retail clients trade Pepperstone perps?
The Bahamas entity's retail margin table lists five: gold, NAS100, US500, WTI and Brent.
Margin trading in CFDs is risky: a small price move against you can cost far more than you expect. Check that you understand leverage and can absorb losses. This is general information, not financial advice.