What is the funding rate on Hyperliquid?

A periodic payment between longs and shorts of a perpetual future that keeps its price close to the spot price.

The funding rate is what holders of perpetual futures pay each other. If the rate is positive, longs pay shorts; if negative, shorts pay longs. The payment equals position size × rate, so it does not depend on leverage.

On Hyperliquid funding is paid every hour, while Binance and Bybit usually pay every 8 hours. To compare exchanges, convert rates to the same period — per hour or per year (APR).

A high positive rate means traders are crowded into longs and pay to keep them; a deeply negative rate means shorts are crowded. Such extremes often come before a long squeeze or a short squeeze.

On HyperScan

The funding page shows the current rate of every Hyperliquid coin next to Binance and Bybit, in per-hour and APR terms, plus hourly history.