Funding rate calculator
Funding for your position over any period — at the live rate or the 7-day average of Hyperliquid or Lighter.
How funding is paid
Perpetual futures have no expiry, so the exchange keeps their price close to the spot price with funding: when the rate is positive, longs pay shorts; when it is negative, shorts pay longs. The payment is the position size times the rate.
Hyperliquid and Lighter both pay funding every hour. Without a premium the rate is 0.00125% per hour — about 11% a year paid by longs. Hyperliquid caps funding at 4% per hour, Lighter at 0.5% per hour.
The rate changes every hour, so a long period is better estimated with the 7-day average than with the current rate. On Hyperliquid the payment uses the oracle price, so it moves with the coin price too.
Funding: questions and answers
Who pays funding, longs or shorts?
The crowded side. A positive rate means longs pay shorts, a negative rate means shorts pay longs. In calm markets the rate sits at the baseline, and longs pay about 11% a year.
How often is funding paid on Hyperliquid and Lighter?
Every hour on both. Binance and Bybit usually pay every 8 hours, so compare their rates per hour or per year — the funding comparison page does it for you.
Can I earn funding?
Yes: hold the side that receives it, or short on the exchange with the higher rate and long on the one with the lower rate. Watch fees and liquidation risk on both legs.