What is the funding rate on Hyperliquid?

There is no single rate — every market has its own, and it moves every funding period. Across all 88 perpetual markets on Hyperliquid right now, the average annualized funding is +7.28%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 13.79% annualized, and that is roughly what being on the right side of it is worth. The live rate for every individual market is in the table on this page.

How often does Hyperliquid pay funding?

Hyperliquid settles funding hourly, though it does not publish a schedule for the next settlement, so no countdown is shown on this page rather than a guessed one. The interval matters more than it looks: a rate quoted per hour and a rate quoted per eight hours are not comparable until they are put on the same basis, so every figure on this site is normalized to an 8-hour basis before it is compared or ranked.

What are Hyperliquid's trading fees?

Hyperliquid charges 0.035% to take liquidity and 0.020% to make it. These are the fees used in every net-APR figure on this page: a funding trade pays the taker fee four times (in and out of both legs), which is exactly why a wide spread held briefly can still lose money.

How many markets does Hyperliquid list?

We collect 88 perpetual markets from Hyperliquid. All of them report 24-hour volume. Every one is listed with its mark price, funding rate and funding interval in the book on this page.

Which exchange pairs best with Hyperliquid for funding arbitrage?

Right now, Bybit: shorting BCH on Hyperliquid against the opposite leg on Bybit opens a gross funding spread of +40.73% annualized, which is +31.34% after both venues' taker fees. That is one snapshot of a rate that floats — 14 of Hyperliquid's markets currently have a counterparty on a book deep enough to trade, and all of them are ranked on this page.

Is Hyperliquid good for funding arbitrage?

As one leg, yes: 14 of Hyperliquid's 88 markets have a counterparty on another venue where both books cleared $1.00M in the last 24 hours, and its 0.035% taker fee is charged twice in a round trip on this leg. What decides the trade is the OTHER venue — the spread is the distance between two funding rates, so a venue is never good or bad on its own. The pairs above name the counterparty for each market.

← All exchanges

Hyperliquid funding rates and fees

DEX
Hyperliquid L1
Self-custody
No KYC
Since 2023

Hyperliquid lists 88 perpetual markets and settles funding hourly, at 0.035% taker / 0.020% maker. 14 of those markets have a counterparty on another venue with a book deep enough to trade against. The widest right now is short BCH here against Bybit, paying +31.34% annualized after both venues' taker fees.

An on-chain perpetuals exchange running its own L1, with a fully on-chain order book rather than an AMM. The largest perps DEX by open interest and the most common decentralized leg of a funding-arbitrage pair. Funding settles hourly, so rates react far faster than on the 8-hour CEX schedule. No account, no KYC — you trade from your own wallet.

Taker fee

0.035%0.020% maker

Funding settles

1hhourly

Next funding

—Hyperliquid publishes no schedule

Tradable pairs

14both books over $1.00M in 24h

Trade on Hyperliquid

The pairs

Where Hyperliquid is worth trading — and against whom.

Every market here, matched against the venue that opens the widest funding gap against it. The axis draws both rates on one scale, and the lit bar between them is the spread — the money. Net APR is what that spread pays after both venues' taker fees, held a week.

The first tradable pairs on Hyperliquid: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Hyperliquid	Best counterparty	Net APR
BBCH	Short	-26.95%	Bybit-67.69%	+31.34%+40.73% gross · 39h to break evenbooks $1.52M · $17.24M
LLTC	Short	+10.95%	Bybit-24.85%	+26.41%+35.80% gross · 44h to break evenbooks $2.18M · $21.44M
PPUMP	Long	+23.78%	Backpack+62.10%	+26.33%+38.32% gross · 2.2d to break evenbooks $26.45M · $1.38M
TTRX	Short	+10.95%	Bybit-24.71%	+26.27%+35.66% gross · 44h to break evenbooks $1.40M · $9.27M
EETH	Short	+10.95%	Hibachi-19.27%	+21.36%+30.22% gross · 2.1d to break evenbooks $923.34M · $2.50M

Show the 9 other pairs

The remaining tradable pairs on Hyperliquid: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Hyperliquid	Best counterparty	Net APR
EENA	Short	+10.95%	Extended-14.89%	+16.98%+25.84% gross · 2.4d to break evenbooks $7.14M · $2.42M
HHBAR	Long	-9.64%	Bybit+8.04%	+8.29%+17.68% gross · 3.7d to break evenbooks $1.56M · $8.28M
XXLM	Short	+10.95%	Binance-0.10%	+2.19%+11.05% gross · 5.6d to break evenbooks $1.29M · $53.91M
BBTC	Short	+10.95%	Kalshi+0.00%	-5.21%+10.95% gross · 10.3d to break evenbooks $2.79B · $214.17M
DDOGE	Short	+10.95%	Kalshi+0.00%	-5.21%+10.95% gross · 10.3d to break evenbooks $4.90M · $50.74M
LLINK	Short	+10.95%	Kalshi+0.00%	-5.21%+10.95% gross · 10.3d to break evenbooks $3.59M · $1.88M
NNEAR	Short	+10.95%	Kalshi+0.00%	-5.21%+10.95% gross · 10.3d to break evenbooks $18.73M · $3.52M
XXRP	Short	+10.95%	Kalshi+0.00%	-5.21%+10.95% gross · 10.3d to break evenbooks $20.47M · $1.96M
ZZEC	Short	+10.95%	Kalshi+0.00%	-5.21%+10.95% gross · 10.3d to break evenbooks $166.14M · $11.26M

Show the 74 pairs on books too thin to trade

The first pairs on books too thin to trade on Hyperliquid: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Hyperliquid	Best counterparty	Net APR
AAPT	Short	+10.95%	N1-349.52%	+353.17%+360.47% gross · 3.4h to break evenbooks $1.99M · $637
FFOGO	Short	+10.95%	Backpack-168.58%	+167.54%+179.53% gross · 11h to break evenbooks $231.52K · $166.23K
SS	Short	-68.91%	Variational-163.54%	+85.77%+94.63% gross · 16h to break evenbooks $281.75K · $23.59K
PPOL	Short	+10.95%	Variational-82.64%	+84.73%+93.59% gross · 16h to break evenbooks $616.01K · $133.81K
ZZRO	Short	+10.95%	Orderly-77.42%	+79.51%+88.37% gross · 17h to break evenbooks $1.56M · $46.71K

Show the 69 other thin pairs

The remaining pairs on books too thin to trade on Hyperliquid: the side you take here, the funding rate on each venue, and the net APR after both venues' taker fees.
Market	Your side here	On Hyperliquid	Best counterparty	Net APR
JJTO	Long	+10.95%	Backpack+94.32%	+71.38%+83.37% gross · 24h to break evenbooks $3.70M · $372.88K
TTIA	Long	+10.95%	Backpack+90.78%	+67.84%+79.83% gross · 25h to break evenbooks $5.11M · $171.40K
HHYPE	Long	+10.95%	Hibachi+86.72%	+66.91%+75.77% gross · 20h to break evenbooks $295.69M · $457.58K
SSTABLE	Long	-61.65%	Backpack+10.95%	+60.61%+72.60% gross · 28h to break evenbooks $279.94K · $22.08K
LLINEA	Short	+10.95%	Orderly-55.70%	+57.79%+66.65% gross · 22h to break evenbooks $378.67K · $150
MMET	Long	+10.95%	Backpack+80.36%	+57.42%+69.41% gross · 29h to break evenbooks $883.41K · $135.64K
AKAITO	Short	+10.95%	N1-51.68%	+55.33%+62.63% gross · 20h to break evenbooks $2.80M · $6.23K
SSUI	Long	+10.95%	Hibachi+74.46%	+54.65%+63.51% gross · 23h to break evenbooks $10.98M · $118.18K
WWIF	Short	+10.95%	Extended-50.81%	+52.90%+61.76% gross · 24h to break evenbooks $683.48K · $73.34K
AAPEX	Short	+71.09%	Lighter+10.51%	+52.76%+60.58% gross · 22h to break evenbooks $241.19K · $93
JJUP	Short	+10.95%	Variational-39.91%	+42.00%+50.86% gross · 29h to break evenbooks $3.96M · $339.59K
FFARTCOIN	Long	+26.54%	Backpack+78.96%	+40.43%+52.42% gross · 38h to break evenbooks $10.83M · $98.52K
PPYTH	Long	+10.95%	Backpack+63.15%	+40.21%+52.20% gross · 39h to break evenbooks $745.26K · $82.09K
EEIGEN	Short	+10.95%	N1-33.29%	+36.94%+44.24% gross · 28h to break evenbooks $1.60M · $241
SSOL	Short	+10.95%	Hibachi-34.16%	+36.25%+45.11% gross · 33h to break evenbooks $167.74M · $647.42K
AAAVE	Short	+10.95%	Ethereal-34.15%	+36.24%+45.10% gross · 33h to break evenbooks $11.81M · $4.99K
VVIRTUAL	Short	-5.11%	Orderly-48.53%	+34.56%+43.42% gross · 34h to break evenbooks $2.26M · $6.23K
GGMX	Short	+10.95%	Variational-31.91%	+34.00%+42.86% gross · 35h to break evenbooks $186.58K · $38.69K
LLIT	Short	-26.12%	Orderly-66.11%	+31.13%+39.99% gross · 37h to break evenbooks $32.98M · $55.04K
PPROVE	Long	-28.48%	Bybit+10.95%	+30.04%+39.43% gross · 40h to break evenbooks $103.20K · $202.96K
MMORPHO	Short	-9.95%	Aster-47.84%	+29.03%+37.89% gross · 39h to break evenbooks $1.49M · $143.74K
TTRUMP	Long	-25.73%	Extended+11.39%	+28.26%+37.12% gross · 40h to break evenbooks $2.75M · $53.74K
SSKR	Long	+10.95%	Backpack+50.13%	+27.19%+39.18% gross · 2.1d to break evenbooks $221.78K · $9.41K
MMON	Long	+10.95%	Backpack+49.66%	+26.72%+38.71% gross · 2.2d to break evenbooks $2.90M · $259.60K
PPOPCAT	Short	+10.95%	Variational-23.42%	+25.51%+34.37% gross · 43h to break evenbooks $265.37K · $3.44K
BBERA	Short	+10.95%	Orderly-21.40%	+23.49%+32.35% gross · 46h to break evenbooks $370.28K · $123.28K
EETHFI	Short	+10.95%	Orderly-21.36%	+23.45%+32.31% gross · 46h to break evenbooks $1.67M · $824
XXPL	Short	+10.95%	N1-18.40%	+22.05%+29.35% gross · 42h to break evenbooks $11.24M · $331
AAXS	Short	+10.95%	OKX-17.63%	+19.72%+28.58% gross · 2.2d to break evenbooks $157.62K · $2.28M
AARB	Short	+10.95%	Orderly-17.43%	+19.52%+28.38% gross · 2.2d to break evenbooks $6.70M · $26.46K
AASTER	Short	+10.95%	Orderly-17.14%	+19.23%+28.09% gross · 2.2d to break evenbooks $1.51M · $485.35K
WWLFI	Long	-16.50%	Extended+11.39%	+19.02%+27.88% gross · 2.2d to break evenbooks $1.02M · $370.82K
AAVAX	Short	+10.95%	Extended-16.64%	+18.73%+27.59% gross · 2.2d to break evenbooks $6.23M · $605.74K
AAVNT	Short	+1.73%	Extended-23.65%	+16.52%+25.38% gross · 2.4d to break evenbooks $185.82K · $19.20K
WWLD	Short	+10.95%	Nado-14.20%	+16.29%+25.15% gross · 2.5d to break evenbooks $20.14M · —
AAZTEC	Short	+10.95%	Lighter-13.14%	+16.27%+24.09% gross · 2.3d to break evenbooks $150.14K · $29.58K
SSPX	Short	+10.95%	Orderly-12.86%	+14.95%+23.81% gross · 2.6d to break evenbooks $2.83M · $671
AADA	Short	+10.95%	Lighter-11.39%	+14.52%+22.34% gross · 2.5d to break evenbooks $5.02M · $722.00K
DDYDX	Short	+10.95%	Binance-11.41%	+13.50%+22.36% gross · 2.8d to break evenbooks $655.30K · $6.55M
PPAXG	Short	+10.95%	N1-9.64%	+13.29%+20.59% gross · 2.5d to break evenbooks $2.67M · $18.97K
CCRV	Short	-1.90%	Orderly-23.77%	+13.02%+21.88% gross · 2.8d to break evenbooks $6.16M · $1.52K
SSKY	Short	+10.95%	Nado-8.74%	+10.83%+19.69% gross · 3.2d to break evenbooks $450.66K · —
GGRASS	Short	+10.95%	Variational-8.64%	+10.73%+19.59% gross · 3.2d to break evenbooks $1.49M · $55.22K
IICP	Short	+10.95%	Variational-8.55%	+10.64%+19.50% gross · 3.2d to break evenbooks $373.24K · $50.53K
OONDO	Short	+10.95%	Nado-8.55%	+10.64%+19.50% gross · 3.2d to break evenbooks $2.64M · —
MMEGA	Short	+10.95%	Nado-8.51%	+10.60%+19.46% gross · 3.2d to break evenbooks $602.29K · —
OOP	Short	+10.95%	Variational-7.96%	+10.05%+18.91% gross · 3.3d to break evenbooks $895.29K · $31.56K
BBNB	Long	+10.95%	Hibachi+28.91%	+9.10%+17.96% gross · 3.5d to break evenbooks $5.17M · $24.72K
PPENGU	Long	-5.38%	Extended+11.39%	+7.91%+16.77% gross · 3.7d to break evenbooks $2.29M · $23.00K
SSEI	Short	+10.95%	Orderly-4.87%	+6.96%+15.82% gross · 3.9d to break evenbooks $448.67K · $3.36K
UUNI	Short	+10.95%	Variational-4.40%	+6.49%+15.35% gross · 4.0d to break evenbooks $11.05M · $553.85K
DDOT	Short	+10.95%	Orderly-3.44%	+5.53%+14.39% gross · 4.3d to break evenbooks $1.11M · $67.32K
TTON	Short	+10.95%	Nado-1.66%	+3.75%+12.61% gross · 4.9d to break evenbooks $1.87M · —
TTAO	Short	+10.95%	Orderly-0.67%	+2.76%+11.62% gross · 5.3d to break evenbooks $7.47M · $29.89K
PPENDLE	Short	+10.95%	Orderly-0.41%	+2.50%+11.36% gross · 5.5d to break evenbooks $903.41K · $400
SSYRUP	Short	+20.29%	Lighter+10.51%	+1.96%+9.78% gross · 5.6d to break evenbooks $1.36M · $75.62K
XXMR	Long	+10.95%	Backpack+23.72%	+0.78%+12.77% gross · 6.6d to break evenbooks $3.38M · $286.79K
LLDO	Short	+10.95%	Extended+1.75%	+0.34%+9.20% gross · 6.7d to break evenbooks $1.93M · $78.75K
ZZK	Short	+10.95%	Binance+2.67%	-0.58%+8.28% gross · 7.5d to break evenbooks $210.91K · $3.90M
SSTBL	Short	+16.88%	Lighter+10.51%	-1.45%+6.37% gross · 8.6d to break evenbooks $295.44K · $738
SSTRK	Short	+10.95%	Backpack+0.41%	-1.45%+10.54% gross · 8.0d to break evenbooks $491.38K · $41.11K
DDASH	Short	+10.95%	Orderly+6.88%	-4.79%+4.07% gross · 15.3d to break evenbooks $514.12K · $86
AAERO	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $1.11M · $175.69K
CCC	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $484.65K · $40.97K
FFIL	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $848.74K · $87.18K
RRESOLV	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $158.15K · $2.35K
VVVV	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $2.48M · $369.85K
ZZORA	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $169.40K · $2.13K
MMNT	Short	+10.95%	Backpack+9.66%	-10.70%+1.29% gross · 65.1d to break evenbooks $293.34K · $35.26K

A pair counts as tradable when both legs did more than $1.00Mof volume in the last 24 hours: a wide spread across two thin books is arithmetic, not a trade. Rates are annualized and 8h-normalized, so an hourly venue and an 8-hour one are directly comparable. Net APR can be negative — the fees have eaten the spread — and those pairs are shown greyed rather than hidden, because “not worth it” is an answer. Funding is a floating rate: it can flip before it has paid you back.

The book

Every market on Hyperliquid

All 88 perpetuals Hyperliquid quotes, with the funding rate each one is paying right now.

Every perpetual market on Hyperliquid, with its mark price, annualized funding rate, funding interval, 24-hour volume and open interest.

BBTC	$64,693	+10.95%	1h	$2.79B	$2.32B
EETH	$1,870.6	+10.95%	1h	$923.34M	$1.70B
HHYPE	$65.06	+10.95%	1h	$295.69M	$1.42B
SSOL	$77.61	+10.95%	1h	$167.74M	$368.39M
ZZEC	$555.51	+10.95%	1h	$166.14M	$286.67M
LLIT	$2.60	-26.12%	1h	$32.98M	$120.74M
PPUMP	$0.001629	+23.78%	1h	$26.45M	$49.64M
XXRP	$1.11	+10.95%	1h	$20.47M	$101.14M
WWLD	$0.4151	+10.95%	1h	$20.14M	$42.88M
NNEAR	$2.01	+10.95%	1h	$18.73M	$82.89M
AAAVE	$98.81	+10.95%	1h	$11.81M	$86.01M
XXPL	$0.0938	+10.95%	1h	$11.24M	$37.41M
UUNI	$3.66	+10.95%	1h	$11.05M	$17.31M
SSUI	$0.7592	+10.95%	1h	$10.98M	$35.19M
FFARTCOIN	$0.1512	+26.54%	1h	$10.83M	$24.76M
TTAO	$199.19	+10.95%	1h	$7.47M	$21.43M
EENA	$0.0836	+10.95%	1h	$7.14M	$21.52M
AARB	$0.0920	+10.95%	1h	$6.70M	$7.75M
AAVAX	$6.67	+10.95%	1h	$6.23M	$14.86M
CCRV	$0.2229	-1.90%	1h	$6.16M	$7.01M
BBNB	$580.60	+10.95%	1h	$5.17M	$25.54M
TTIA	$0.4127	+10.95%	1h	$5.11M	$2.85M
AADA	$0.1640	+10.95%	1h	$5.02M	$23.74M
DDOGE	$0.0740	+10.95%	1h	$4.90M	$26.27M
JJUP	$0.2105	+10.95%	1h	$3.96M	$8.53M
JJTO	$0.6508	+10.95%	1h	$3.70M	$13.30M
LLINK	$8.33	+10.95%	1h	$3.59M	$41.51M
XXMR	$332.33	+10.95%	1h	$3.38M	$52.31M
MMON	$0.0226	+10.95%	1h	$2.90M	$29.24M
SSPX	$0.3790	+10.95%	1h	$2.83M	$2.77M
AKAITO	$0.7765	+10.95%	1h	$2.80M	$2.86M
TTRUMP	$1.57	-25.73%	1h	$2.75M	$8.66M
PPAXG	$4,034.3	+10.95%	1h	$2.67M	$20.75M
OONDO	$0.3181	+10.95%	1h	$2.64M	$7.54M
VVVV	$11.04	+10.95%	1h	$2.48M	$21.57M
PPENGU	$0.006032	-5.38%	1h	$2.29M	$4.08M
VVIRTUAL	$0.5829	-5.11%	1h	$2.26M	$8.13M
LLTC	$45.01	+10.95%	1h	$2.18M	$12.21M
AAPT	$0.6243	+10.95%	1h	$1.99M	$3.74M
LLDO	$0.3261	+10.95%	1h	$1.93M	$8.98M
TTON	$1.61	+10.95%	1h	$1.87M	$23.11M
EETHFI	$0.3946	+10.95%	1h	$1.67M	$7.61M
EEIGEN	$0.2434	+10.95%	1h	$1.60M	$5.56M
ZZRO	$0.8664	+10.95%	1h	$1.56M	$26.14M
HHBAR	$0.0673	-9.64%	1h	$1.56M	$4.71M
BBCH	$233.78	-26.95%	1h	$1.52M	$6.83M
AASTER	$0.6301	+10.95%	1h	$1.51M	$22.78M
MMORPHO	$2.01	-9.95%	1h	$1.49M	$4.64M
GGRASS	$0.3938	+10.95%	1h	$1.49M	$8.66M
TTRX	$0.3258	+10.95%	1h	$1.40M	$17.01M
SSYRUP	$0.1905	+20.29%	1h	$1.36M	$3.51M
XXLM	$0.1839	+10.95%	1h	$1.29M	$6.98M
DDOT	$0.8575	+10.95%	1h	$1.11M	$4.40M
AAERO	$0.5065	+10.95%	1h	$1.11M	$11.37M
WWLFI	$0.0573	-16.50%	1h	$1.02M	$11.16M
PPENDLE	$1.56	+10.95%	1h	$903.41K	$7.07M
OOP	$0.1018	+10.95%	1h	$895.29K	$3.44M
MMET	$0.1596	+10.95%	1h	$883.41K	$2.84M
FFIL	$0.7841	+10.95%	1h	$848.74K	$2.34M
PPYTH	$0.0483	+10.95%	1h	$745.26K	$2.05M
WWIF	$0.1561	+10.95%	1h	$683.48K	$3.01M
DDYDX	$0.1213	+10.95%	1h	$655.30K	$2.79M
PPOL	$0.0847	+10.95%	1h	$616.01K	$3.21M
MMEGA	$0.0487	+10.95%	1h	$602.29K	$5.64M
DDASH	$34.34	+10.95%	1h	$514.12K	$798.00K
SSTRK	$0.0291	+10.95%	1h	$491.38K	$2.54M
CCC	$0.1396	+10.95%	1h	$484.65K	$4.64M
SSKY	$0.0613	+10.95%	1h	$450.66K	$2.50M
SSEI	$0.0484	+10.95%	1h	$448.67K	$1.60M
LLINEA	$0.002496	+10.95%	1h	$378.67K	$1.70M
IICP	$2.21	+10.95%	1h	$373.24K	$1.49M
BBERA	$0.1865	+10.95%	1h	$370.28K	$1.74M
SSTBL	$0.0229	+16.88%	1h	$295.44K	$2.15M
MMNT	$0.4203	+10.95%	1h	$293.34K	$2.06M
SS	$0.0255	-68.91%	1h	$281.75K	$976.20K
SSTABLE	$0.0374	-61.65%	1h	$279.94K	$2.62M
PPOPCAT	$0.0460	+10.95%	1h	$265.37K	$1.23M
AAPEX	$0.2738	+71.09%	1h	$241.19K	$1.29M
FFOGO	$0.009624	+10.95%	1h	$231.52K	$310.34K
SSKR	$0.009185	+10.95%	1h	$221.78K	$283.28K
ZZK	$0.0104	+10.95%	1h	$210.91K	$725.17K
GGMX	$5.88	+10.95%	1h	$186.58K	$509.90K
AAVNT	$0.0934	+1.73%	1h	$185.82K	$588.91K
ZZORA	$0.0066	+10.95%	1h	$169.40K	$605.45K
RRESOLV	$0.0186	+10.95%	1h	$158.15K	$263.37K
AAXS	$0.9990	+10.95%	1h	$157.62K	$414.39K
AAZTEC	$0.0140	+10.95%	1h	$150.14K	$580.99K
PPROVE	$0.2014	-28.48%	1h	$103.20K	$256.25K

The evidence

How much size Hyperliquid can absorb

Volume says how much trades here; open interest says how much is actually held. Neither is the reason to put a leg on this venue — the pairs above are — but both decide whether the leg you want will fill.

Each point is the rolling 24-hour figure as of that hour.

FAQ

Hyperliquid, answered

What is the funding rate on Hyperliquid?: There is no single rate — every market has its own, and it moves every funding period. Across all 88 perpetual markets on Hyperliquid right now, the average annualized funding is +7.28%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 13.79% annualized, and that is roughly what being on the right side of it is worth. The live rate for every individual market is in the table on this page.
How often does Hyperliquid pay funding?: Hyperliquid settles funding hourly, though it does not publish a schedule for the next settlement, so no countdown is shown on this page rather than a guessed one. The interval matters more than it looks: a rate quoted per hour and a rate quoted per eight hours are not comparable until they are put on the same basis, so every figure on this site is normalized to an 8-hour basis before it is compared or ranked.
What are Hyperliquid's trading fees?: Hyperliquid charges 0.035% to take liquidity and 0.020% to make it. These are the fees used in every net-APR figure on this page: a funding trade pays the taker fee four times (in and out of both legs), which is exactly why a wide spread held briefly can still lose money.
How many markets does Hyperliquid list?: We collect 88 perpetual markets from Hyperliquid. All of them report 24-hour volume. Every one is listed with its mark price, funding rate and funding interval in the book on this page.
Which exchange pairs best with Hyperliquid for funding arbitrage?: Right now, Bybit: shorting BCH on Hyperliquid against the opposite leg on Bybit opens a gross funding spread of +40.73% annualized, which is +31.34% after both venues' taker fees. That is one snapshot of a rate that floats — 14 of Hyperliquid's markets currently have a counterparty on a book deep enough to trade, and all of them are ranked on this page.
Is Hyperliquid good for funding arbitrage?: As one leg, yes: 14 of Hyperliquid's 88 markets have a counterparty on another venue where both books cleared $1.00M in the last 24 hours, and its 0.035% taker fee is charged twice in a round trip on this leg. What decides the trade is the OTHER venue — the spread is the distance between two funding rates, so a venue is never good or bad on its own. The pairs above name the counterparty for each market.