Funding on Hyperliquid mkts markets: who pays, and when
What it costs to hold a position on each Markets By Kinetiq (mkts) HIP-3 market. Every hour each market settles a funding rate; positive means longs pay shorts. Part of that rate is the deployer's built-in carry, the neutral rate, and the rest is what the crowd pays on top. Below: how many markets pay above neutral now, when in the US week longs pay most, every market's 24-hour, 7-day and 30-day rate, the largest settlements, and the same names on other deployers.
last settlement 2026-10-10 00:00 UTC · 2026-10-09 20:00 ETnext-rate estimate 2026-10-10 00:46 UTCsince 2026-07-01generated 2026-10-10 00:46 UTCdataindex.json
longs pay above neutral
0 of 5
last settlement above the market's neutral rate
at neutral
3 of 5
settled exactly at the neutral rate
shorts pay
2 of 5
last settlement below zero
median apr · 30d
+4.65%
across 5 markets · over observed hours
neutral rate
5.00% APR
0.004566% per 8 h × multiplier 1 (none set) = 0.05708 bps/h · BVIV ±32.85% (clamp)
hours above neutral · 30d
26%
median market · the rest at or below
largest settlement · 30d
-5,179%
SMALL2000 · -59.12 bps in one hour · 09-14 18:00 ET
hours observed · 30d
683 of 720
median market · collector gaps are not filled
Read this first. Positive funding means longs pay shorts, negative means shorts pay longs. The neutral rate is what a market settles at when the perp trades on its oracle: the interest rate mkts sets, 0.004566% per 8 hours (about 5.00% a year), times a funding multiplier of 1, since mkts sets none, so 5.00% APR. It is the deployer's carry, not crowd positioning; only the part above it says longs are paying up. BVIV's interest rate is steered by the deployer hour to hour, and its clamp of 0.03% per 8 hours caps its neutral rate at ±32.85% APR; it was never observed settling at its neutral rate in the 243 hours observed in 30 days. Every mean is over the settlements we observed, shown with its hours: our collector has gaps and we never fill them. This page is not live: it is rebuilt nightly and at 09:05 ET, and the next-rate estimate is the running estimate at the as-of time, not a settled rate.
When longs payall markets · New York time
hour of week · mean funding apr
mean of hourly rates over every live market and every settlement in the archive, annualised · an hour is the hour the settlement covers · 168 of 168 hours with data · hover a cell for its mean and n
0
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Tue
Wed
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shorts paylongs pay · full shade = ±52.16% APR or more · empty = no settlements
by session · 30 d
session
median apr
markets above neutral
hours observed
US regular 9:30–16:00
+4.76%
40%
555
US extended 4–9:30, 16–20
+0.39%
40%
928
Overnight 20–4
+4.28%
40%
608
Weekend / holiday
+4.86%
40%
908
median apr = median over markets of each market's mean rate in that session over the last 30 days
markets above neutral = share of markets whose session mean exceeded their own neutral rate
hours = market-hours observed in the session, all markets summed
sessions as in the liquidity data
All marketsAPR = hourly rate × 24 × 365 × 100, in percent · positive = longs pay
last = the last settled hourly rate, annualised
next est = the running estimate of the next rate at the as-of time, "—" when it is older than 2 hours
24 h, 7 d, 30 d = mean of the hourly rates observed in the 24, 168 or 720 hours ending at the last settlement; "n of N h" below a value = observed of expected hours
max, min = highest and lowest single hour in 30 days
above neutral = share of observed hours settled above the market's neutral rate in force at that hour
sum = what a long paid over the observed hours, in bps of notional
other venues = the same symbol on another HIP-3 deployer: 30 d APR and its observed hours, listed when it has at least 7
"neutral varies" = the market's neutral rate changed within the 30 days, with its range; each hour is compared with the neutral rate in force when it settled
definitions in methodology
Largest settlements · 30 dby size of the hourly rate, either sign
settled = settlement time, New York (ET) with UTC below; the rate covers the hour before it
session = the US session of that hour
rate = the hourly rate in bps of notional
APR = that one hour annualised, which is why a single hour can read in the thousands of percent
Same name, another deployerno shared names
No mkts symbol is listed on xyz, para or io with at least 7 observed hours in the last 30 days.
Dailycross-market median and share above neutral, per UTC day
median apr
median over markets with at least 12 observed hours that day of each market's daily mean · dashed = neutral · hover a day
share above neutral
share of those markets whose daily mean exceeded their neutral rate · hover a day
UTC days from the first settlement in the archive; today (2026-10-10) is still open and not drawn
a day with too few observed hours has no point and the line bridges it with a dashed segment
raw: /api/mkts/funding/index.json