How does 1-hour funding compare to 8-hour?

Normalize to APR: a 0.005% hourly rate = 43.8% APR; a 0.04% 8-hour rate = 43.8% APR. Same yield, different cadence. Hyperliquid's 1-hour settlement means basis mean-reverts faster, producing tighter spot-perp spreads.

What is Hyperliquid's funding rate cap?

Hyperliquid clamps funding at ±4% per 1-hour interval.

Is Hyperliquid's on-chain orderbook different from Binance?

Yes. Every order, fill, and funding settlement is on-chain rather than off-chain matched. Positioning data is fully transparent — you can audit whale positions in real time via Hyperliquid's explorer. This is a distinctly different liquidity profile from centralized venues.

Hyperliquid Funding Rate — Live Across All Perpetual Pairs | Sharpe

Hyperliquid Funding Rate Overview

Hyperliquid is an on-chain perpetual exchange with a fully on-chain orderbook, sub-second matching, and 1-hour funding settlement. It grew from near-zero OI in 2023 to meaningful double-digit share of total crypto perp OI by 2026, attracting both retail and market-maker flow. The 1-hour funding interval means rates respond faster to positioning changes than 8-hour venues — a 0.005% 1-hour rate annualizes to 43.8% APR, directly comparable to a 0.04% 8-hour rate elsewhere. Hyperliquid's altcoin listings are often deeper than Binance for mid-cap tokens like HYPE (native token), PURR, and other on-chain native assets. Sharpe normalizes Hyperliquid's 1-hour funding to APR for apples-to-apples comparison across all 13 tracked exchanges.

Why track this venue specifically

Cross-venue funding rate divergences are one of the cleanest positioning signals in crypto derivatives. When Hyperliquid funding diverges meaningfully from Binance or Hyperliquid on the same asset, it typically reflects venue-specific positioning that often precedes a move. Sharpe's leaderboard and coin explorer surface these divergences automatically — this page provides the Hyperliquid-specific context.

Frequently Asked Questions

How does 1-hour funding compare to 8-hour?: Normalize to APR: a 0.005% hourly rate = 43.8% APR; a 0.04% 8-hour rate = 43.8% APR. Same yield, different cadence. Hyperliquid's 1-hour settlement means basis mean-reverts faster, producing tighter spot-perp spreads.
What is Hyperliquid's funding rate cap?: Hyperliquid clamps funding at ±4% per 1-hour interval.
Is Hyperliquid's on-chain orderbook different from Binance?: Yes. Every order, fill, and funding settlement is on-chain rather than off-chain matched. Positioning data is fully transparent — you can audit whale positions in real time via Hyperliquid's explorer. This is a distinctly different liquidity profile from centralized venues.