The current inner neutral band is −4 to +6 bp. Binance estimates funding from five-second premium observations weighted toward each 8h settlement. The chart shows completed hourly closes. 8h rate = P + clamp(+1 bp − P, −5 bp, +5 bp), where P is Binance's weighted interval premium. Current outer floor/cap: −37.5 / +37.5 bp per settlement.