Hyperliquid Funding Rates
Live funding data for 229+ perpetual markets. Filter by direction, open interest, and sort by any metric to find arbitrage opportunities.
Funding Heatmap — Top 40 by Open Interest
| Coin | Rate/hr ▼ | Rate/8hr | APR | Premium | Open Interest | 24h Volume |
|---|---|---|---|---|---|---|
GAS3x | -0.0973% | -0.7785% | -852.4% | -0.817% | $183K | $386K |
BLAST3x | -0.0805% | -0.6443% | -705.5% | -0.717% | $1.0M | $77K |
REZ3x | -0.0487% | -0.3894% | -426.4% | -0.530% | $594K | $2.1M |
ME3x | -0.0273% | -0.2187% | -239.5% | -0.299% | $218K | $74K |
MAVIA3x | +0.0243% | +0.1945% | +213.0% | +0.436% | $1.9M | $7K |
STABLE3x | -0.0222% | -0.1775% | -194.3% | -0.170% | $3.6M | $995K |
VVV3x | -0.0199% | -0.1589% | -174.0% | -0.241% | $9.4M | $3.0M |
GRIFFAIN3x | +0.0197% | +0.1573% | +172.3% | +0.266% | $1.6M | $793K |
DOOD3x | -0.0128% | -0.1024% | -112.1% | -0.158% | $614K | $154K |
GRASS3x | -0.0127% | -0.1014% | -111.0% | -0.184% | $3.5M | $808K |
BANANA3x | -0.0123% | -0.0982% | -107.5% | -0.074% | $177K | $101K |
NEO5x | -0.0121% | -0.0971% | -106.3% | +0.000% | $642K | $1.8M |
RESOLV3x | -0.0115% | -0.0916% | -100.3% | -0.202% | $4.4M | $3.2M |
AXS5x | -0.0082% | -0.0657% | -71.9% | -0.094% | $2.8M | $1.1M |
NOT3x | -0.0071% | -0.0568% | -62.2% | +0.000% | $168K | $24K |
DOT10x | -0.0067% | -0.0536% | -58.7% | -0.107% | $9.3M | $2.6M |
STRK5x | -0.0065% | -0.0521% | -57.1% | -0.153% | $3.7M | $377K |
0G3x | -0.0064% | -0.0514% | -56.3% | -0.056% | $468K | $88K |
EIGEN5x | -0.0062% | -0.0494% | -54.1% | -0.188% | $2.7M | $2.2M |
POLYX3x | -0.0059% | -0.0472% | -51.7% | +0.000% | $258K | $26K |
XAI3x | -0.0047% | -0.0373% | -40.9% | -0.092% | $885K | $103K |
PNUT3x | -0.0046% | -0.0366% | -40.1% | -0.084% | $495K | $187K |
JTO5x | -0.0044% | -0.0348% | -38.1% | -0.074% | $820K | $253K |
XMR5x | +0.0043% | +0.0342% | +37.5% | +0.047% | $29.9M | $3.1M |
PROMPT3x | +0.0043% | +0.0341% | +37.4% | +0.048% | $1.2M | $98K |
Understanding Perpetual Funding Rates
Funding rates are the mechanism that keeps perpetual futures prices anchored to the underlying spot price. Unlike traditional futures that expire on a set date, perpetual contracts have no expiry — so funding acts as the tether between perp and spot markets.
On Hyperliquid, funding is calculated and settled every hour, making it one of the most frequently-settling venues in DeFi. The rate shown in the table above represents the cost (or income) per hour as a percentage of your position's notional value. The APR column annualizes this rate by multiplying by 8,760 hours.
The premium column shows the percentage difference between the perpetual mark price and the oracle (spot) price. A positive premium means the perp trades above spot — typically leading to positive funding. The premium is the primary input to the funding rate formula.
Funding Rate Strategies
Cash-and-Carry Arbitrage
Buy spot + short perp to earn positive funding as yield with zero directional exposure. Works best with high-OI majors like BTC and ETH during bull markets where funding tends to stay consistently positive.
Cross-Venue Arbitrage
Go long on a venue with low/negative funding while shorting the same asset on Hyperliquid where funding is higher — capturing the spread. Hyperliquid's hourly settlement and low fees make it ideal for the short leg.
Contrarian Signal
Extreme funding rates signal crowded positioning. Very high positive rates often precede long squeezes; very negative rates precede short squeezes. Use the APR column to spot extremes above +100% or below -100%.
Protocols That Automate Funding Strategies
Several Hyperliquid ecosystem protocols let you earn funding yield without manual management:
Frequently Asked Questions
What are funding rates on Hyperliquid?
Funding rates are periodic payments exchanged between long and short perpetual futures traders on Hyperliquid. They are calculated and applied every hour. When funding is positive, long positions pay short positions. When negative, shorts pay longs. This mechanism keeps perpetual contract prices aligned with the underlying spot price.
How often are Hyperliquid funding rates paid?
Hyperliquid funding rates are settled every hour (once per hour). This is more frequent than many competitors that settle every 8 hours. The hourly settlement means funding accrues more smoothly, reducing the impact of any single funding payment on trader PnL.
How is the funding rate calculated?
The funding rate is derived from the premium — the difference between the perpetual contract's mark price and the oracle (spot) price. When the perp trades above spot (positive premium), the funding rate increases, incentivizing shorts and discouraging additional longs. The exact formula includes a dampening factor to prevent extreme rate swings.
What does a positive vs negative funding rate mean?
A positive funding rate means long traders pay short traders, indicating bullish sentiment and excess demand for leverage on the long side. A negative funding rate means short traders pay long traders, signaling bearish positioning. Extreme rates in either direction suggest crowded trades and potential mean reversion.
How can I use funding rates to make money?
The primary strategy is cash-and-carry arbitrage: buy the spot asset and simultaneously short the perpetual to earn positive funding as yield. Other strategies include funding rate arbitrage across venues (capturing rate differentials between Hyperliquid and CEXs), and using funding as a contrarian signal — extreme rates often precede reversals. Several Hyperliquid protocols like Resolv and Liminal automate delta-neutral funding strategies.
What is the APR column and how is it calculated?
APR (Annual Percentage Rate) represents the annualized cost or income from funding. It is calculated by multiplying the hourly funding rate by 8,760 (hours in a year) and expressing it as a percentage. Note that APR assumes the current rate stays constant — actual returns vary as funding rates fluctuate throughout the year.
Hyperliquid Funding vs Other Venues
| Feature | Hyperliquid | dYdX | Binance |
|---|---|---|---|
| Settlement | Every hour | Every hour | Every 8 hours |
| Markets | 229+ | ~180 | ~400 |
| Custody | Self-custody | Self-custody | Custodial |
| Trading Fees | 0.01% / 0.035% | 0.02% / 0.05% | 0.02% / 0.05% |
| Composability | HyperEVM DeFi | Limited | None |
Start trading perpetuals on Hyperliquid
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