Current status
As of the August 25, 2026 review, the official funding doc states hourly settlement at one-eighth of the eight-hour computed rate, a fixed interest-rate component of 0.01% per eight hours (0.00125% hourly, about 11.6% annualized), a premium component sampled every five seconds and averaged hourly, a 4% per-hour cap, and payments computed on oracle-price notional rather than mark price. The fee comparison uses the current official base perps schedule, but it cannot read a trader's account-specific rate, fills, or remaining referral eligibility.
Steps
- 01Read the current rate and the 24-hour and 3-day averages for your market on the live funding page; one extreme print is weaker evidence than a day of prints.
- 02Convert your planned position into oracle-price notional: size multiplied by the oracle price, because the official payment formula uses the oracle, not the mark.
- 03Estimate one hour of carry: notional multiplied by the current hourly rate, then multiply by the hours you expect to hold.
- 04Select entry and exit order roles, volume tier, staking discount, and any eligible referral discount in the funding calculator so explicit fees and carry appear in one cost stack.
- 05Recompute when funding is unusually positive or negative; rates revert, flip sign, and follow the premium, so a multi-day hold rarely pays yesterday's rate the whole way through.
Risks and limits
- The current rate is a reading, not a forecast: the premium component moves with order flow, so carry estimated at entry may double or invert during the hold.
- Annualized funding figures compound a single hourly print into a yearly number; they help compare markets but overstate certainty badly.
- Crowded carry positions face the same exit at the same time when the rate normalizes, which adds spread and slippage exactly when the income stops.
- The 4% hourly cap is wide; at the cap a $100,000 notional position pays $4,000 per hour, so extreme prints deserve attention rather than averaging away.
- Funding is settled on oracle notional: a divergence between mark and oracle changes the payment relative to what the chart implies.
- Holding through many funding events compounds a small edge or a small cost; the direction depends entirely on your side of the book.
Affiliate disclosure: we may earn referral rewards if you use this link.
Get the fee discount
Review the referral terms before you trade.
Questions
How often is funding paid on Hyperliquid?
Every hour. The official docs compute the rate over an eight-hour window and settle one-eighth of that amount each hour.
Who receives the funding payment?
The other side of the market. Positive funding moves money from longs to shorts; negative funding moves it from shorts to longs. The venue is not the counterparty to funding.
What is the interest-rate component?
A fixed 0.01% per eight hours (0.00125% per hour, roughly 11.6% annualized) that the official formula combines with the averaged premium component, with the difference between them clamped to a small band.
Is there a maximum funding rate?
The official docs cap funding at 4% per hour, which is far wider than typical centralized-exchange caps, so stressed markets may carry materially larger hourly payments.
Why does my payment differ from mark-price math?
Payments use position size multiplied by the oracle price. When mark and oracle diverge, the settled amount follows the oracle notional.
Does negative funding make a long position free?
No. Negative funding pays longs while it persists, but spread, fees, slippage, liquidation distance, and price movement still dominate the outcome of most positions.
Related guides
Sources
3 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: Perpetuals info endpointAccessed 2026-09-04Supports: Core and HIP-3 perpetual DEX discovery, current market contexts including rolling dayNtlVlm, perpetual metadata, funding history, predicted funding, DEX and market limits, DEX status, configuration metadata, clearinghouse state, and open-interest cap fields.
- Hyperliquid Docs: FeesAccessed 2026-08-26Supports: Rolling 14-day volume tiers, perps and spot fee schedules, HIP-3 deployer fee scale and growth mode, strict HYPE staking-tier thresholds and discounts, referral fee formula and limits, staking-account linking risks, fee-model caveats, fee distribution to HLP, the assistance fund, and deployers, the assistance fund system address, and burn recognition of assistance-fund HYPE.