This article draws attention to an aspect that thus far has escaped systematic scrutiny in the theoretical literature on the political legitimacy of global governance – functions. It does so by exploring the idea that the content and justification of a principle of political legitimacy for global governance may depend on the function of the entity it is supposed to regulate (for example, law making, policy making, implementation, monitoring). Two arguments are made: one meta-theoretical and one substantive. The meta-theoretical argument demonstrates the fruitfulness of adopting a ‘function-sensitive approach’ to political legitimacy to address this aspect. The substantive argument develops the contours of an account of political legitimacy by applying this approach. This account consists of five regulative principles, which are sensitive to, and vary in accordance with, different functions in global politics.