How Often Is Funding Paid on Hyperliquid?
Hyperliquid pays funding every hour. Learn how the hourly payment relates to the eight-hour rate and what that means for short holds.
Direct answer
Hyperliquid pays funding every hour. The protocol computes a rate for an eight-hour window and settles one-eighth of it each hour, so a position held across an hour boundary pays or receives a share. Funding is exchanged between longs and shorts rather than collected by the venue, and perps never expire, so it continues for as long as you hold.
In short
- 1Funding settles hourly, not once per eight hours.
- 2Payments go between traders, not to Hyperliquid.
- 3A position closed before the hour boundary does not pay that hour.
Is Hyperliquid funding hourly or every eight hours?
The quoted rate is an eight-hour rate, but payments are made hourly at one-eighth of it. Reading a figure as an eight-hour payment overstates what a single hour costs by a factor of eight.
Do short holds pay funding?
Funding is applied to positions open at the funding time. A position opened and closed between two hourly payments does not pay funding, while one that spans a boundary does. For a scalp, trading fees usually matter more than funding.
Why does funding exist?
Perps have no expiry, so funding is the mechanism that pulls the perp price toward the underlying reference. Contract specifications describe the difference from an expiring future: funding replaces settlement at expiration.
How should I plan for it?
Estimate hours held, multiply by a conservative hourly rate, and compare with the trading fee. Re-check the live rate, which is recomputed every hour. The funding dashboard shows the current print beside recent history.
Example: holding across the hour
Say you open a $20,000 long at 10:50 and close at 11:10. Because you were open at the 11:00 payment, you pay or receive one hourly amount. At 0.001% that is $0.20. Had you closed at 10:55, you would owe none.
The amounts are small for short trades. Across a week, 168 payments at the same rate would be $33.60, which is when funding starts to rival fees.
Common mistakes
Estimate the number of hourly payments you expect and multiply by a conservative rate.
- Treating funding as a once-per-eight-hours charge.
- Assuming funding is a venue fee.
- Ignoring funding on positions you plan to hold for days.
Practical next steps
To plan a hold, count the hourly boundaries between your entry and your planned exit, multiply by the hourly rate you expect, and multiply by your notional. Run that figure at the current rate, at twice the rate, and at zero, then decide whether the trade survives all three. The funding dashboard on this site shows current rates beside recent history, and the HYPE funding page shows the hourly record in more depth. Add the result to your fee estimate so the whole cost of the position is visible before you enter.
Sources
2 references · ExpandCollapse
- Hyperliquid Docs: FundingAccessed 2026-09-04Supports: Hourly funding, funding formula, interest-rate component, premium component, funding payment formula, and the direction of payments when funding is positive or negative.
- Hyperliquid Docs: Contract specificationsAccessed 2026-09-04Supports: Perpetual contract units, USDC margining, margin fractions, funding versus expiration, and order value limits.