Live commentary: $ZIL 's latest funding rate is -0.0835% (settled every 4 hours). Shorts pay the fee, which works out to roughly 182.9% annualized based on this period.
The shorts are paying rent; I'm just here to watch.
Seriously, the annualized figure is only a simple extrapolation of the current rate over 365 days. The rate changes every period, so don't treat it as the actual cost for a full year.
Before trading with leverage, first consider whether you can withstand the worst-case outcome, then look at what the indicators are saying.