Hyperliquid Funding Rates

What is a Hyperliquid funding rate? A funding rate is a periodic payment exchanged between long and short perpetual traders that keeps the perp's price tethered to the underlying spot or oracle price. Hyperliquid charges funding every hour — not every eight hours like most centralized exchanges — so the rates below are hourly. A positive rate means longs pay shorts; a negative rate means shorts pay longs. Values update live from the Hyperliquid API. If a number below is not telling you what you expected, our guide to how funding rates actually work walks through what moves them, what a sustained positive rate is signaling, and what it costs to hold a position through one.