Hypertake is an independent web interface for Hyperliquid's HIP-4 prediction markets (outcomes) and perpetual futures. You connect your own wallet; every order is placed, matched and settled on Hyperliquid, and your money stays in your own Hyperliquid account. Hypertake is not affiliated with or endorsed by Hyperliquid. Markdown of this page: https://hypertake.net/docs/perps/funding.md. Full documentation index: https://hypertake.net/llms.txt
Perps · Concepts
Funding
How Hyperliquid perps funding works: paid every hour between longs and shorts, how much, and where Hypertake shows it
Funding is a payment between longs and shorts, made every hour on Hyperliquid, that keeps a perp's price close to the spot price. When the rate is positive, longs pay shorts; when it's negative, shorts pay longs. Hyperliquid collects no fee on it, and Hypertake takes nothing from it.
How the rate is set
Hyperliquid computes the rate from two parts: a premium, how far the perp has been trading above or below the oracle price, and a fixed interest part of 0.01% every eight hours. The formula works on an eight-hour rate and "funding is paid every hour at one eighth of the computed rate for each hour". So when the perp trades right at the oracle price, the hourly rate is 0.00125%, paid by longs (Hyperliquid: funding).
payment = position_size × oracle_price × funding_rateFunding is valued at the oracle price, not the mark price, and it applies to the position you hold at the hour. It's peer-to-peer: everything longs pay goes to shorts, or the other way round.
ExampleSam holds a $10,000 BTC long
- Sam is long 0.125 BTC. The oracle price is 80,000, so his position is worth $10,000 for funding.
- At the baseline 0.00125% an hour, he pays $0.125 an hour: $3.00 a day.
- In a busy week the rate climbs to 0.0100% an hour. Now he pays $1.00 an hour, $24 a day, if it stays there.
- If the rate turns negative, −0.0050% an hour, shorts pay him $0.50 an hour.
Flow0.125 BTC × 80,000 oracle × 0.0100% = $1.00 paid by Sam (long) to shorts, every hour
Where you see it
| Where | What it shows |
|---|---|
| Desktop, the bar above the chart | Funding / countdown: the current hourly rate to four decimals (green when longs pay, red when shorts pay) and minutes:seconds to the next payment, on the hour |
| Phone, the trade screen and its Info tab | Funding / 1h with the countdown |
| Phone, a position's page | Funding so far: an estimate (see below) |
| Profit breakdown in the order form | Results are "Before fees and funding." |
What it means for your trade
- An hour or two costs little. On a $1,000 position at the baseline rate, an hour costs about a cent.
- Weeks add up. Funding is charged on the whole position, not your margin. At 10× leverage, a 0.01% hourly rate costs 0.1% of your margin every hour: about 2.4% a day.
- A crowded side pays. When most traders are long, the perp trades above spot and longs pay more. The rate's colour tells you which side pays now.
Do I pay funding if I open and close within the hour?
Funding is paid on the position you hold when each hour's payment is made. If you hold nothing at that moment, you pay or receive nothing for that hour.
Does Hypertake charge anything on funding?
No. Funding goes between traders on Hyperliquid, and Hyperliquid collects no fee on it either.
Is funding included in my P&L on Hypertake?
The P&L in the Positions table is the position's unrealised P&L at the mark price, as Hyperliquid reports it. The order form's profit breakdown is before fees and funding.
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