Real-time funding rates for every Hyperliquid perpetual contract. Track crowded longs, crowded shorts, and the cheapest cost-of-carry in the Hyperliquid market.
What is Hyperliquid funding rate?
Hyperliquid (HYPE) is a decentralized perpetual futures exchange built on its own L1 blockchain (HyperBFT consensus). It launched in 2023 and grew to process more volume than several centralized exchanges by 2025. Funding is settled every hour (instead of 8h), on-chain, and supports a deep book of major and altcoin pairs without KYC.
Funding rate is the periodic payment exchanged between long and short traders on Hyperliquid perpetual futures contracts. When the rate is positive, longs pay shorts. When it is negative, shorts pay longs. The rate is calculated from the mark price relative to the index price, with an interest rate component, and typically capped at a small percentage per funding window.
Why Hyperliquid funding matters
Funding is the cleanest signal of positioning in a perpetual contract. When funding is consistently positive, longs are paying a meaningful premium to stay long — historically a sign of crowded positioning. When funding is consistently negative, shorts are paying longs, and a short squeeze becomes more likely. We track these extremes on the funding dashboard.
Cross-exchange comparison
Funding rates often diverge between Hyperliquid, Binance, Bybit, and OKX for the same contract. The largest divergences are highlighted on the funding dashboard, and traders can capture the spread by going long on the lower-funding venue and short on the higher-funding venue. The funding screener lets you filter the same data across all exchanges simultaneously.
Educational resources
New to perpetual futures? Start with the Funding 101 guide. For data sources and methodology, see the methodology page. For trading strategies, see the guides.
| # | Pair | Funding | 24h Change | 24h Volume | Mark Price |
|---|---|---|---|---|---|
| Loading live data… | |||||
What is the Hyperliquid funding rate?
The Hyperliquid funding rate is the periodic fee exchanged between long and short traders in Hyperliquid perpetual futures contracts. A positive rate means longs pay shorts, indicating bullish sentiment. A negative rate means shorts pay longs, suggesting bearish positioning. The rate helps keep the perpetual futures price anchored to the underlying spot price.
How to read this page
The table above shows the current Hyperliquid funding rates for all available USDT-margined perpetual contracts. Each row displays the trading pair, current funding rate percentage, 24h change, and trading volume. Rates are updated every 5 minutes. Positive rates appear in red (longs paying), negative rates in green (shorts paying).
Hyperliquid vs other exchanges
| Exchange | Funding interval | Funding cap | Top perpetuals |
|---|---|---|---|
| Hyperliquid | 1h (every hour) | ±1.50% per window | BTC, ETH, SOL, HYPE |
| Binance | 8h (00:00, 08:00, 16:00 UTC) | ±0.05% per window | BTC, ETH, SOL, DOGE |
| Bybit | 8h (00:00, 08:00, 16:00 UTC) | ±0.05% per window | BTC, ETH, SOL, XRP |
| OKX | 8h (00:00, 08:00, 16:00 UTC) | ±0.05% per window | BTC, ETH, SOL, PEPE |
Current Hyperliquid funding rate
Hyperliquid settles funding every hour rather than every 8 hours, so its rates move faster and larger than the centralized venues. The live HYPE, BTC, ETH, and SOL funding figures are shown on the Funding Alerts heatmap, refreshed every 5 minutes, so you always see the current hourly reading rather than a stale 8-hour average.
How to use this data
Because Hyperliquid re-prices funding each hour, it is the best place to watch short-term positioning shifts. A single hourly print above +0.10% on HYPE signals an aggressive long crowd, while a negative print flags shorts paying up. Check the heatmap frequently to catch these hourly swings that centralized exchanges smooth out across an 8-hour window.
The cross-exchange view on the heatmap lets you compare Hyperliquid’s hourly rate to Binance’s and Bybit’s 8-hour rates for the same pair. The dashboard flags pairs where Hyperliquid diverges sharply, which matters if you arbitrage the carry across off-chain and on-chain venues.
Hyperliquid funding rate FAQ
How often does Hyperliquid charge funding?
Hyperliquid charges funding every hour, 24 times a day, unlike the 8-hour cadence on Binance and Bybit.
What is the current Hyperliquid funding rate for BTC?
Live BTC funding on Hyperliquid is shown on the Funding Alerts heatmap, updated every 5 minutes.
Why is Hyperliquid funding higher than Binance?
Hyperliquid uses hourly windows and a wider 1.50% cap, so rates can run far outside the 0.05% band typical of centralized exchanges.
Can I receive Hyperliquid funding as a short?
Yes. When funding is positive, longs pay shorts on Hyperliquid, and shorts receive the payment each hour.
Track live funding rates for Hyperliquid and 4 other exchanges on Funding Alerts. Deeper guides on reading hourly funding are in the learning hub.