Hyperliquid Funding Calculator
What a BTC-USD perpetual costs to hold on Hyperliquid, per interval and per year.
Funding is the rent on a perpetual position, and it is charged whether the trade is working or not. This page uses Hyperliquid's settlement interval and published rate cap for BTC-USD, so the annualised figure reflects how Hyperliquid actually settles rather than a generic three-a-day assumption.
Hyperliquid funding schedule for BTC-USD
Hyperliquid settles funding on BTC-USD every 1 hours (24 a day) and caps a single settlement at 4.00 %. The rate itself is set by the market and changes each interval; this page prices the rate you enter rather than reading the live one. Parameters checked on 2026-08-07.
Run it on your own position ↓How it works
Hyperliquid settles funding every 1 hours — 24 times a day, or 8760 times a year. Funding is exchanged between traders, not paid to the venue: when the rate is positive longs pay shorts, and when it is negative the flow reverses.
The annualised number is the one worth looking at before opening a carry. A rate that looks negligible per settlement compounds into a serious drag: 0.01% three times a day is about 11% a year, and rates of ten times that are ordinary during a squeeze.
Sources — Hyperliquid documentation
Every rate and formula on this page is taken from Hyperliquid's own documentation for BTC-USD and was last checked on 2026-08-07. Exchanges revise these tables without notice.
- Funding rate formula, hourly settlement and the clamps
- Contract specifications, including the hourly funding schedule
Independent tool, not affiliated with or endorsed by Hyperliquid. Confirm against your position's own margin details before trading.
Settlement intervals across exchanges
The same 0.01 % rate on a 10,000 position, priced under each venue's schedule.
| Exchange | Interval | Per day | Annualised |
|---|---|---|---|
| Binance | 8h | 3.00 | 10.95 % |
| Bybit | 8h | 3.00 | 10.95 % |
| OKX | 8h | 3.00 | 10.95 % |
| Gate.io | 8h | 3.00 | 10.95 % |
| Hyperliquid | 1h | 24.00 | 87.60 % |
The same calculation on other exchanges
Margin ladders differ enough to move the liquidation price on identical inputs.
Funding on Hyperliquid
Hyperliquid settles funding every hour, where every other venue on this site settles every eight. That single difference changes how the number on the screen should be read: a rate quoted here is charged twenty-four times a day, not three, and the per-interval figure is correspondingly smaller for the same annual cost.
An hourly schedule is not a cheaper schedule
The interest component makes the equivalence explicit. Hyperliquid documents it as 0.00125% per hour, which is exactly the 0.01% per eight hours the other venues use — the same annual drag, sliced eight ways. Comparing a Hyperliquid rate against a Binance rate without rescaling one of them overstates the difference by a factor of eight.
What the schedule genuinely changes is granularity. On an eight-hour venue a position opened and closed inside the window pays nothing, and traders routinely time entries around the stamp. Hourly settlement makes that game nearly pointless: hold a position for a working day and you have paid funding eight times.
The rate is built from the oracle, not from the order book
The premium is measured against the oracle price — a weighted median of prices on centralised venues, republished roughly every three seconds — rather than against Hyperliquid's own mid. The interest-rate adjustment is clamped to ±0.05%, and the resulting rate is capped at 4% per hour.
That cap is far higher than anything the other venues allow per settlement, and it is deliberately out of reach: it exists to bound a pathological market rather than to be touched. What it means practically is that Hyperliquid does not stop funding from pulling a dislocated perpetual back to spot the way a tight cap does.
The payment is between traders
Funding on Hyperliquid is transferred directly between the two sides, with the venue taking no share. That makes it a cost of holding rather than a fee, and it is why a negative rate is genuinely income for the side that is short of the crowd.
It also means funding is charged on the full notional, not on your margin. At 20× the same rate is twenty times heavier relative to the capital you posted — which is the arithmetic behind most complaints that funding 'ate' a position.
Turning an hourly rate into an annual one
Multiply by 8,760 to get the simple annual rate: 0.001% an hour is 8.76% APR, and a rate that looks like nothing on the screen is a double-digit cost of carry. The calculator above does this from a position size and a holding period.
If the payments are being reinvested — or if the position is a carry trade being compounded — the simple annual figure understates it. The APR to APY calculator compounds an hourly rate properly, and the hourly schedule is where the gap between the two quotes is widest.
FAQ
How often does Hyperliquid charge funding?
Every hour, at one eighth of the computed eight-hour rate. It is the only venue covered here on an hourly schedule, and it is the reason its per-interval rates look small next to Binance or Bybit.
What is the funding rate cap on Hyperliquid?
4% per hour on the rate itself, with the interest-rate adjustment separately clamped to ±0.05%. The cap is an emergency bound rather than a level the market visits.
Which price is the funding premium measured against?
The oracle price, not the mark price. Liquidations use the mark price and funding uses the oracle — they are different numbers computed from different inputs, and Hyperliquid documents both separately.
Does Hyperliquid keep any of the funding?
No. It is transferred between longs and shorts. The venue earns on trading fees, which the break-even calculator prices separately.