Hyperliquid funding calculator
What holding a Hyperliquid perp costs (or pays) in funding, at today's rate and last week's average.
Hyperliquid charges funding every hour: payment = size × oracle price × hourly rate, longs pay when the rate is positive, and it is capped at 0.5% per hour. At the 0.0013%-per-hour baseline a $10,000 long pays $3.00 a day. BTC's rate at 2026-11-05 12:21 UTC was 0.0013% per hour.
Calculator
Current rate from metaAndAssetCtxs and the 7-day average from fundingHistory on Hyperliquid's public API, fetched by your browser. Nothing you type is sent to UnderHyper. Live rates for every market, next to Binance and Bybit: funding rate data.
How funding works on Hyperliquid
A perpetual future has no expiry, so funding keeps its price near the spot price. When the perp trades above the oracle (spot) price, longs pay shorts; when it trades below, shorts pay longs. Hyperliquid takes no cut: funding is paid peer to peer. The facts below are from Hyperliquid's funding page.
- Paid every hour. The formula gives an 8-hour rate, and one eighth of it is charged each hour.
- Rate = average premium + clamp(interest − premium, −0.05%, +0.05%). The interest part is fixed at 0.01% per 8 hours (0.00125% per hour), so with no premium longs pay about 11% a year.
- Capped at 0.5% per hour, the same for every asset.
- Valued at the oracle price. Payment = position size × oracle price × rate, not the mark price.
- HIP-3 markets (stocks, commodities, pre-IPO) use a more responsive premium formula, and the deployer can set a funding multiplier and interest rate.
Background and history: funding rates explained.
Worked example
A 1 BTC long with an illustrative oracle price of $100,000, held for 30 days at the baseline 0.00125% per hour: 1 × $100,000 × 0.0000125 = $1.25 an hour, × 720 hours = $900.00. A short of the same size would receive that amount. On a 10x position ($10,000 of margin) that is 9% of the margin in a month, before any premium.
What can go wrong
- Rates move every hour. This is an estimate at a constant rate. A crowded trade can flip the sign or multiply the cost within hours.
- Leverage multiplies funding against your margin. Funding is charged on the full position, not your margin. At the 0.5% hourly cap, a 10x position would pay 5% of its margin every hour.
- Funding pulls a position toward liquidation. Payments come out of your margin, so a long-held position drifts toward its liquidation price even if the market doesn't move. The wallet checker shows the funding each open position has paid or received since it was opened.
Perps are leveraged and you can lose your whole margin. Hyperliquid's terms restrict users in the US, Ontario and other places; see is Hyperliquid available in the US.
Questions people ask
How often is funding paid on Hyperliquid?
Every hour. Hyperliquid computes an 8-hour funding rate and charges one eighth of it each hour, so a position held for one day settles funding 24 times.
How is the funding payment calculated?
Payment = position size × oracle price × funding rate, per Hyperliquid's docs. The oracle (spot) price is used to value the position, not the mark price. A positive rate means longs pay shorts; a negative rate means shorts pay longs.
Is Hyperliquid funding capped?
Yes. Hyperliquid's funding page says funding is capped at 0.5% per hour, for every asset. That is far looser than most centralized exchanges, so in a squeeze funding can cost many times the usual rate.
What is the normal funding rate on Hyperliquid?
With no premium, the rate sits at the fixed interest component of 0.01% per 8 hours, which is 0.00125% per hour (about 11% a year), paid by longs to shorts. Many large markets sit at exactly that baseline most hours.
Is funding different on HIP-3 stock and commodity perps?
The payment works the same way, but HIP-3 markets use a more responsive premium formula, and the deployer can set a funding multiplier and interest rate, so their rates can differ from crypto perps.