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 104 perpetual markets on Hyperliquid right now, the average annualized funding is +10.37%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 13.52% 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 104 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, Bitget: shorting MSTR on Hyperliquid against the opposite leg on Bitget opens a gross funding spread of +78.52% annualized, which is +68.61% 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 104 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 104 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 MSTR here against Bitget, paying +68.61% 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
MMSTR	Short	+78.52%	Bitget+0.00%	+68.61%+78.52% gross · 21h to break evenbooks $4.86M · $10.67M
HHYPE	Short	-8.68%	Backpack-85.23%	+64.56%+76.55% gross · 26h to break evenbooks $377.01M · $14.24M
ZZEC	Long	+31.11%	Extended+91.98%	+52.01%+60.87% gross · 24h to break evenbooks $179.29M · $3.25M
LLIT	Short	+10.95%	Extended-43.80%	+45.89%+54.75% gross · 27h to break evenbooks $11.19M · $1.73M
SSOL	Short	+10.95%	Hibachi-39.42%	+41.51%+50.37% gross · 30h to break evenbooks $205.19M · $1.02M

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
AASTER	Long	+10.95%	Aster+42.55%	+22.74%+31.60% gross · 47h to break evenbooks $1.59M · $30.58M
BBNB	Short	+10.95%	Bybit-13.41%	+14.97%+24.36% gross · 2.7d to break evenbooks $3.66M · $10.41M
BBCH	Short	+10.95%	Bybit-12.78%	+14.34%+23.73% gross · 2.8d to break evenbooks $1.16M · $6.56M
TTRUMP	Short	+10.95%	Backpack-14.69%	+13.65%+25.64% gross · 3.3d to break evenbooks $51.09M · $2.33M
TTRX	Short	+10.95%	OKX-10.19%	+12.28%+21.14% gross · 2.9d to break evenbooks $2.89M · $13.33M
BBTC	Short	+10.95%	RiseX-4.74%	+6.83%+15.69% gross · 4.0d to break evenbooks $1.26B · $26.64M
EETH	Short	+10.95%	Kalshi-11.60%	+6.39%+22.55% gross · 5.0d to break evenbooks $324.25M · $106.20M
LLINK	Short	+10.95%	Bybit-2.61%	+4.17%+13.56% gross · 4.8d to break evenbooks $5.94M · $20.82M
SSNDK	Short	+5.48%	Aster+0.00%	-3.38%+5.48% gross · 11.3d to break evenbooks $16.93M · $2.34M

Show the 90 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
SS	Short	+10.95%	N1-656.12%	+659.77%+667.07% gross · 1.8h to break evenbooks $170.93K · $3.06K
JJUP	Long	+10.95%	N1+572.03%	+553.78%+561.08% gross · 2.2h to break evenbooks $1.51M · $521
SSKR	Short	+10.95%	Backpack-218.84%	+217.80%+229.79% gross · 8.8h to break evenbooks $598.91K · $183.46K
SSTABLE	Long	+10.95%	Backpack+202.92%	+179.98%+191.97% gross · 11h to break evenbooks $350.04K · $12.62K
CCRV	Short	+10.95%	Extended-110.38%	+112.47%+121.33% gross · 12h to break evenbooks $3.02M · $66.04K

Show the 85 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
MMET	Long	+10.95%	Backpack+135.23%	+112.29%+124.28% gross · 16h to break evenbooks $487.80K · $65.94K
XXMR	Short	+127.68%	Backpack+14.32%	+101.37%+113.36% gross · 18h to break evenbooks $6.05M · $48.98K
MMORPHO	Short	+10.95%	N1-86.72%	+90.37%+97.67% gross · 13h to break evenbooks $708.46K · —
AKAITO	Long	+10.95%	N1+103.37%	+85.12%+92.42% gross · 13h to break evenbooks $682.34K · $3
XXRP	Short	+10.95%	Hibachi-77.09%	+79.18%+88.04% gross · 17h to break evenbooks $30.23M · $168.22K
CCC	Long	+10.95%	Backpack+100.18%	+77.24%+89.23% gross · 23h to break evenbooks $722.91K · $15.53K
EENA	Short	+10.95%	Orderly-70.72%	+72.81%+81.67% gross · 18h to break evenbooks $24.25M · $280.23K
WWLFI	Short	+10.95%	Backpack-72.09%	+71.05%+83.04% gross · 24h to break evenbooks $1.35M · $83.10K
MMON	Short	-12.45%	N1-89.35%	+69.61%+76.91% gross · 16h to break evenbooks $5.51M · $1.32K
FFARTCOIN	Long	+10.95%	N1+85.85%	+67.60%+74.90% gross · 16h to break evenbooks $9.73M · $495
DDOGE	Short	+10.95%	Polymarket-55.67%	+60.88%+66.62% gross · 14h to break evenbooks $4.10M · $32.01K
PPAXG	Short	+5.07%	N1-61.32%	+59.09%+66.39% gross · 18h to break evenbooks $1.48M · $1.56K
AADA	Short	+2.32%	Polymarket-61.08%	+57.66%+63.40% gross · 15h to break evenbooks $3.17M · $73.98K
AAERO	Short	+10.95%	N1-52.56%	+56.21%+63.51% gross · 19h to break evenbooks $2.00M · —
NNEAR	Short	+10.95%	N1-52.56%	+56.21%+63.51% gross · 19h to break evenbooks $8.75M · $1.12K
SSUI	Short	+10.95%	Polymarket-50.06%	+55.27%+61.01% gross · 16h to break evenbooks $5.28M · $313.95K
CCOIN	Short	+5.48%	Polymarket-54.53%	+54.27%+60.01% gross · 16h to break evenbooks $1.66M · $513.94K
SSTRK	Short	+10.95%	Backpack-54.03%	+52.99%+64.98% gross · 31h to break evenbooks $228.60K · $4.34K
VVIRTUAL	Short	+10.95%	Lighter-47.30%	+50.43%+58.25% gross · 23h to break evenbooks $1.92M · $54.46K
AARB	Short	+10.95%	Lighter-45.55%	+48.68%+56.50% gross · 23h to break evenbooks $1.16M · $270.79K
EEIGEN	Short	+10.95%	Nado-46.14%	+48.23%+57.09% gross · 26h to break evenbooks $116.13K · —
PPUMP	Short	+10.95%	Backpack-48.97%	+47.93%+59.92% gross · 34h to break evenbooks $53.82M · $153.18K
OOP	Short	-2.03%	Backpack-61.48%	+47.46%+59.45% gross · 34h to break evenbooks $388.10K · $40.22K
AAXS	Long	-45.47%	Bitget+10.95%	+46.51%+56.42% gross · 30h to break evenbooks $71.92K · $137.68K
EETHFI	Short	+10.95%	Aster-41.72%	+43.81%+52.67% gross · 28h to break evenbooks $1.90M · $74.24K
SSEI	Short	+10.95%	Variational-36.39%	+38.48%+47.34% gross · 31h to break evenbooks $209.00K · $9.28K
PPOL	Short	+10.95%	Orderly-35.35%	+37.44%+46.30% gross · 32h to break evenbooks $339.87K · $668.25K
FFIL	Long	-35.07%	Aster+10.95%	+37.16%+46.02% gross · 32h to break evenbooks $627.75K · $40.16K
TTAO	Long	+10.95%	RiseX+56.90%	+37.09%+45.95% gross · 32h to break evenbooks $10.41M · $265.39K
OONDO	Short	+10.95%	N1-31.54%	+35.19%+42.49% gross · 29h to break evenbooks $3.06M · $142
JJTO	Long	+10.95%	Backpack+57.07%	+34.13%+46.12% gross · 44h to break evenbooks $759.43K · $73.50K
HHBAR	Short	+10.95%	Variational-31.84%	+33.93%+42.79% gross · 35h to break evenbooks $393.24K · $27.10K
PPENGU	Short	+10.95%	Variational-31.82%	+33.91%+42.77% gross · 35h to break evenbooks $2.50M · $221.30K
XXPL	Short	+10.95%	N1-28.91%	+32.56%+39.86% gross · 31h to break evenbooks $6.55M · $30
VVVV	Short	+10.95%	Backpack-30.45%	+29.41%+41.40% gross · 2.0d to break evenbooks $4.24M · $39.07K
ZZK	Short	+10.95%	Variational-26.44%	+28.53%+37.39% gross · 40h to break evenbooks $122.05K · $2.26K
AAPEX	Short	+46.37%	Lighter+10.51%	+28.04%+35.86% gross · 37h to break evenbooks $120.99K · $3.69K
DDYDX	Short	+10.95%	Lighter-23.65%	+26.78%+34.60% gross · 38h to break evenbooks $98.57K · $1.20K
AAVNT	Short	+10.95%	OKX-23.15%	+25.24%+34.10% gross · 44h to break evenbooks $142.35K · $1.04M
HHOOD	Short	+33.80%	Aster+0.00%	+24.94%+33.80% gross · 44h to break evenbooks $1.35M · $9.83K
ZZRO	Short	+10.95%	Orderly-22.15%	+24.24%+33.10% gross · 45h to break evenbooks $1.59M · $27.44K
LLDO	Short	+10.95%	Backpack-22.86%	+21.82%+33.81% gross · 2.5d to break evenbooks $422.17K · $42.19K
PPROVE	Long	-16.63%	Aster+10.95%	+18.72%+27.58% gross · 2.3d to break evenbooks $55.40K · $946
IICP	Short	+10.95%	Variational-16.16%	+18.25%+27.11% gross · 2.3d to break evenbooks $998.60K · $40.40K
AAPT	Long	-15.72%	Aster+10.95%	+17.81%+26.67% gross · 2.3d to break evenbooks $699.81K · $27.53K
WWLD	Long	-18.46%	Backpack+10.95%	+17.42%+29.41% gross · 2.9d to break evenbooks $3.23M · $92.22K
WWIF	Short	+10.95%	Variational-14.80%	+16.89%+25.75% gross · 2.4d to break evenbooks $457.23K · $74.74K
TTIA	Short	+10.95%	Backpack-15.72%	+14.68%+26.67% gross · 3.1d to break evenbooks $379.60K · $27.29K
AAAPL	Short	+3.17%	Nado-20.12%	+14.43%+23.29% gross · 2.7d to break evenbooks $6.70M · —
AAVAX	Short	+10.95%	Backpack-15.01%	+13.97%+25.96% gross · 3.2d to break evenbooks $1.94M · $62.45K
PPOPCAT	Short	+10.95%	Lighter-9.64%	+12.77%+20.59% gross · 2.7d to break evenbooks $217.22K · $45.11K
LLINEA	Short	+10.95%	Bybit-9.92%	+11.48%+20.87% gross · 3.1d to break evenbooks $104.19K · $326.32K
DDOT	Long	-9.05%	Aster+10.95%	+11.14%+20.00% gross · 3.1d to break evenbooks $894.07K · $14.32K
LLTC	Short	+10.95%	Lighter-7.01%	+10.14%+17.96% gross · 3.0d to break evenbooks $2.48M · $103.85K
UUNI	Short	+10.95%	Variational-7.74%	+9.83%+18.69% gross · 3.3d to break evenbooks $5.52M · $409.92K
MMSFT	Short	+18.48%	Aster+0.00%	+9.62%+18.48% gross · 3.4d to break evenbooks $1.43M · $8.92K
SSPX	Long	+10.95%	Aster+29.43%	+9.62%+18.48% gross · 3.4d to break evenbooks $2.81M · $48.75K
TTON	Long	+25.59%	Aster+43.80%	+9.35%+18.21% gross · 3.4d to break evenbooks $1.35M · $447.55K
AAAVE	Long	+10.95%	RiseX+29.14%	+9.33%+18.19% gross · 3.4d to break evenbooks $4.61M · $133.43K
BBERA	Short	+10.95%	Backpack-9.41%	+8.37%+20.36% gross · 4.1d to break evenbooks $97.36K · $24.53K
AAMZN	Short	+5.48%	Nado-10.75%	+7.36%+16.22% gross · 3.8d to break evenbooks $2.48M · —
XXAG	Long	+5.48%	Polymarket+18.39%	+7.17%+12.91% gross · 3.1d to break evenbooks $19.58M · $305.26K
AAMD	Long	+13.43%	Nado+28.76%	+6.46%+15.32% gross · 4.0d to break evenbooks $1.20M · —
CCRCL	Short	+5.48%	Nado-5.93%	+2.55%+11.41% gross · 5.4d to break evenbooks $9.02M · —
XXLM	Short	+10.95%	Backpack-3.29%	+2.25%+14.24% gross · 5.9d to break evenbooks $436.52K · $17.71K
MMEGA	Short	+10.95%	Nado+2.01%	+0.08%+8.94% gross · 6.9d to break evenbooks $258.00K · —
ZZORA	Short	+10.95%	Backpack-1.12%	+0.08%+12.07% gross · 7.0d to break evenbooks $137.47K · $56.88K
MMNT	Short	+10.95%	Variational+4.44%	-2.35%+6.51% gross · 9.5d to break evenbooks $301.01K · $10.74K
SSKY	Short	+10.95%	Nado+4.65%	-2.56%+6.30% gross · 9.8d to break evenbooks $197.08K · —
GGOOGL	Short	+5.48%	Aster+0.00%	-3.38%+5.48% gross · 11.3d to break evenbooks $2.84M · $55.11K
IINTC	Short	+5.48%	Aster+0.00%	-3.38%+5.48% gross · 11.3d to break evenbooks $1.91M · $10.41K
MMETA	Short	+5.48%	Aster+0.00%	-3.38%+5.48% gross · 11.3d to break evenbooks $3.93M · $255.60K
NNVDA	Short	+5.48%	Aster+0.00%	-3.38%+5.48% gross · 11.3d to break evenbooks $13.14M · $550.65K
TTSLA	Short	+5.48%	Aster+0.00%	-3.38%+5.48% gross · 11.3d to break evenbooks $2.35M · $27.46K
RRESOLV	Short	+10.95%	Bybit+5.65%	-4.09%+5.30% gross · 12.4d to break evenbooks $51.68K · $132.20K
HHYUNDAI	Short	+2.81%	Aster+0.00%	-6.05%+2.81% gross · 22.1d to break evenbooks $53.01K · $496
AAZTEC	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $66.32K · $12.90K
DDASH	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $1.97M · $71.29K
FFOGO	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $630.50K · $73.52K
GGMX	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $142.96K · $11.71K
GGRASS	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $476.55K · $46.96K
PPYTH	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $301.78K · $10.03K
SSTBL	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $372.47K · $15.04K
SSYRUP	Short	+10.95%	Lighter+10.51%	-7.38%+0.44% gross · 125.0d to break evenbooks $293.57K · $43.45K
PPENDLE	Short	+10.95%	Orderly+9.55%	-7.46%+1.40% gross · 44.2d to break evenbooks $742.98K · $235.34K

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 104 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	$78,195	+10.95%	1h	$1.26B	$2.93B
HHYPE	$82.89	-8.68%	1h	$377.01M	$1.99B
EETH	$2,455.5	+10.95%	1h	$324.25M	$1.94B
SSOL	$105.65	+10.95%	1h	$205.19M	$638.41M
ZZEC	$835.10	+31.11%	1h	$179.29M	$500.00M
PPUMP	$0.004858	+10.95%	1h	$53.82M	$222.82M
TTRUMP	$2.68	+10.95%	1h	$51.09M	$21.22M
XXRP	$1.39	+10.95%	1h	$30.23M	$212.38M
EENA	$0.1567	+10.95%	1h	$24.25M	$68.09M
XXAG	$66.61	+5.48%	1h	$19.58M	$131.56M
SSNDK	$1,488.2	+5.48%	1h	$16.93M	$141.54M
NNVDA	$218.76	+5.48%	1h	$13.14M	$169.48M
LLIT	$3.50	+10.95%	1h	$11.19M	$147.44M
TTAO	$236.52	+10.95%	1h	$10.41M	$48.60M
FFARTCOIN	$0.1965	+10.95%	1h	$9.73M	$38.77M
CCRCL	$88.16	+5.48%	1h	$9.02M	$83.90M
NNEAR	$1.86	+10.95%	1h	$8.75M	$89.31M
AAAPL	$320.34	+3.17%	1h	$6.70M	$67.97M
XXPL	$0.0869	+10.95%	1h	$6.55M	$35.90M
XXMR	$464.20	+127.68%	1h	$6.05M	$70.36M
LLINK	$11.44	+10.95%	1h	$5.94M	$70.67M
UUNI	$4.65	+10.95%	1h	$5.52M	$32.33M
MMON	$0.0268	-12.45%	1h	$5.51M	$35.82M
SSUI	$0.7458	+10.95%	1h	$5.28M	$30.77M
MMSTR	$129.05	+78.52%	1h	$4.86M	$47.33M
AAAVE	$124.16	+10.95%	1h	$4.61M	$72.41M
VVVV	$16.53	+10.95%	1h	$4.24M	$25.56M
DDOGE	$0.0853	+10.95%	1h	$4.10M	$54.19M
MMETA	$578.24	+5.48%	1h	$3.93M	$45.17M
BBNB	$692.76	+10.95%	1h	$3.66M	$47.20M
WWLD	$0.3757	-18.46%	1h	$3.23M	$29.63M
AADA	$0.2016	+2.32%	1h	$3.17M	$30.43M
OONDO	$0.3537	+10.95%	1h	$3.06M	$24.67M
CCRV	$0.3040	+10.95%	1h	$3.02M	$14.46M
TTRX	$0.3393	+10.95%	1h	$2.89M	$13.97M
GGOOGL	$345.96	+5.48%	1h	$2.84M	$89.59M
SSPX	$0.5229	+10.95%	1h	$2.81M	$6.06M
PPENGU	$0.009174	+10.95%	1h	$2.50M	$15.68M
LLTC	$48.85	+10.95%	1h	$2.48M	$16.17M
AAMZN	$265.75	+5.48%	1h	$2.48M	$26.44M
TTSLA	$350.29	+5.48%	1h	$2.35M	$42.76M
AAERO	$0.4929	+10.95%	1h	$2.00M	$13.29M
DDASH	$41.81	+10.95%	1h	$1.97M	$1.18M
AAVAX	$7.31	+10.95%	1h	$1.94M	$14.20M
VVIRTUAL	$0.7015	+10.95%	1h	$1.92M	$11.38M
IINTC	$90.07	+5.48%	1h	$1.91M	$70.22M
EETHFI	$0.5430	+10.95%	1h	$1.90M	$12.89M
CCOIN	$179.39	+5.48%	1h	$1.66M	$12.79M
ZZRO	$1.09	+10.95%	1h	$1.59M	$37.45M
AASTER	$0.6977	+10.95%	1h	$1.59M	$26.01M
JJUP	$0.2191	+10.95%	1h	$1.51M	$9.81M
PPAXG	$4,459.4	+5.07%	1h	$1.48M	$25.15M
MMSFT	$515.33	+18.48%	1h	$1.43M	$23.16M
WWLFI	$0.0578	+10.95%	1h	$1.35M	$11.75M
TTON	$1.37	+25.59%	1h	$1.35M	$26.34M
HHOOD	$104.77	+33.80%	1h	$1.35M	$10.50M
AAMD	$468.17	+13.43%	1h	$1.20M	$13.37M
AARB	$0.0878	+10.95%	1h	$1.16M	$4.16M
BBCH	$247.22	+10.95%	1h	$1.16M	$5.79M
IICP	$2.51	+10.95%	1h	$998.60K	$3.66M
DDOT	$0.8422	-9.05%	1h	$894.07K	$4.63M
JJTO	$0.4938	+10.95%	1h	$759.43K	$10.13M
PPENDLE	$1.71	+10.95%	1h	$742.98K	$7.67M
CCC	$0.1185	+10.95%	1h	$722.91K	$4.29M
MMORPHO	$2.43	+10.95%	1h	$708.46K	$5.72M
AAPT	$0.5448	-15.72%	1h	$699.81K	$3.82M
AKAITO	$0.3158	+10.95%	1h	$682.34K	$3.68M
FFOGO	$0.007561	+10.95%	1h	$630.50K	$406.93K
FFIL	$0.6811	-35.07%	1h	$627.75K	$2.72M
SSKR	$0.0108	+10.95%	1h	$598.91K	$324.40K
MMET	$0.2022	+10.95%	1h	$487.80K	$2.44M
GGRASS	$0.3631	+10.95%	1h	$476.55K	$9.54M
WWIF	$0.2034	+10.95%	1h	$457.23K	$5.06M
XXLM	$0.1792	+10.95%	1h	$436.52K	$12.70M
LLDO	$0.3598	+10.95%	1h	$422.17K	$9.64M
HHBAR	$0.0755	+10.95%	1h	$393.24K	$5.24M
OOP	$0.0893	-2.03%	1h	$388.10K	$2.96M
TTIA	$0.3386	+10.95%	1h	$379.60K	$1.55M
SSTBL	$0.0285	+10.95%	1h	$372.47K	$2.46M
SSTABLE	$0.0265	+10.95%	1h	$350.04K	$1.05M
PPOL	$0.1027	+10.95%	1h	$339.87K	$3.75M
PPYTH	$0.0482	+10.95%	1h	$301.78K	$1.70M
MMNT	$0.5191	+10.95%	1h	$301.01K	$4.86M
SSYRUP	$0.1761	+10.95%	1h	$293.57K	$2.60M
MMEGA	$0.0385	+10.95%	1h	$258.00K	$3.70M
SSTRK	$0.0250	+10.95%	1h	$228.60K	$2.78M
PPOPCAT	$0.0545	+10.95%	1h	$217.22K	$2.29M
SSEI	$0.0460	+10.95%	1h	$209.00K	$1.69M
SSKY	$0.0683	+10.95%	1h	$197.08K	$2.96M
SS	$0.0298	+10.95%	1h	$170.93K	$685.78K
GGMX	$8.19	+10.95%	1h	$142.96K	$803.47K
AAVNT	$0.1006	+10.95%	1h	$142.35K	$520.86K
ZZORA	$0.006142	+10.95%	1h	$137.47K	$1.66M
ZZK	$0.008279	+10.95%	1h	$122.05K	$412.93K
AAPEX	$0.2656	+46.37%	1h	$120.99K	$3.11M
EEIGEN	$0.1943	+10.95%	1h	$116.13K	$3.01M
LLINEA	$0.002486	+10.95%	1h	$104.19K	$2.24M
DDYDX	$0.1089	+10.95%	1h	$98.57K	$1.51M
BBERA	$0.1697	+10.95%	1h	$97.36K	$1.37M
AAXS	$0.9001	-45.47%	1h	$71.92K	$254.66K
AAZTEC	$0.0135	+10.95%	1h	$66.32K	$441.21K
PPROVE	$0.1686	-16.63%	1h	$55.40K	$110.46K
HHYUNDAI	$289.91	+2.81%	1h	$53.01K	$1.12M
RRESOLV	$0.0177	+10.95%	1h	$51.68K	$726.98K

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 104 perpetual markets on Hyperliquid right now, the average annualized funding is +10.37%, which means the venue as a whole is currently charging longs to hold. Ignoring the direction, the average market pays or charges 13.52% 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 104 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, Bitget: shorting MSTR on Hyperliquid against the opposite leg on Bitget opens a gross funding spread of +78.52% annualized, which is +68.61% 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 104 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.