PONS funding: questions and answers
What is the PONS funding rate on Hyperliquid now?
0.0034% per hour, or 29.7% APR: longs pay shorts. The next payment is in 1m; funding on Hyperliquid is paid every hour.
How does PONS funding on Hyperliquid compare with Binance and Bybit?
Binance: 43.7% APR (paid every 4 h), Bybit: 38.7% APR. The difference between Hyperliquid and Binance is -14.0% per year.
What has PONS funding been on average?
On Hyperliquid: 38.3% APR over 24 hours, 28.0% over 7 days and 30.6% over 30 days. Longs paid in 100% of the hours over the last 30 days.
What does high or negative PONS funding mean?
High funding means the market is crowded with longs: holding a long is expensive and a fall can trigger a long squeeze. Negative funding means crowded shorts. Check who exactly is positioned and where their liquidations are on the whale positions page and the liquidation map.