In this paper I focus on the substantial research funding cuts announced by UK Research and Innovation (UKRI) in March 2021 to examine the process of funding for and participation in global research projects for researchers based in Southern institutions. I focus here on three key aspects of participating in global research projects: first, the structures through which these grants are created—the programmatic frameworks or other imperatives that confine and limit this work to Northern/Western-centric frames; secondly, the precarity of these grants and the work that they generate; and, thirdly, the increasingly output-related and time-bound nature of work in light of limited support. I argue that the effects of these are felt disproportionately by those located in the global South and are therefore worth considering as part of larger debates centred on democratizing and decolonizing knowledge networks.