The funding rate on Hyperliquid perpetuals — what one side pays the other every hour — back to the venue's first months. Bold line = the 30-day average.
+0.0011% the hourly rate · BTC on Oct-22 2026, the last day in this build, measured and published by askthetape.com.
Funding is the rent longs and shorts pay each other to keep a perpetual glued to the spot price. Above zero the longs are paying; below it the shorts are. Hyperliquid charges it every hour, which is eight times more often than most venues, and this page is the daily average of those hourly charges. On Oct-22 2026 it was +0.0011% an hour on BTC, +0.0011% on ETH and +0.0011% on SOL — +9.8%, +9.7% and +9.8% a year if that hour never ended. Over the whole history the average has been +13.3% a year on BTC, +13.0% on ETH and +10.6% on SOL: on this venue, over these three years, being long has been the side that pays. The line is joined: the venue's own hourly history before 2026-04-11, our own tick capture of the same rate from that day on (one read every five seconds, about 17 thousand a day, averaged per UTC day). 🩸 THE JOIN MOVED THE HISTORY A LITTLE, and here is by how much. The venue's half is multiplied by 0.9874 on BTC, 0.9865 on ETH and 0.9899 on SOL to sit on the same level as our own capture — about 1.3%, 1.3% and 1.0% off the rate. On the part of the history it touches (everything before 2026-04-11) that turns an average of +14.64% a year into +14.45% on BTC. That is small, but it is not nothing and it is not hidden. 🩸 The rate crosses zero constantly, so read the direction, not the digits: the noise across the join is 0.017–0.025 basis points, which on a quiet day is a good part of the rate itself. No forecast is drawn.
| provenance · btc | the venue's own daily series before 2026-04-11 (Hyperliquid info/fundingHistory, hourly rate averaged per UTC day); our own capture of the same venue's rate from 2026-04-11 on (the daily mean of our tick capture, one read every five seconds — about 17 thousand a day); normalized ×0.9874 on 149 overlapping days (2026-04-11 → 2026-09-12, r 0.9861, p90 of what is left after it 0.017 bp of the hourly rate). The factor is not copied from anywhere: it is re-measured from the overlap file on every build and came out ×0.9874 on this one |
|---|---|
| provenance · eth | the venue's own daily series before 2026-04-11 (Hyperliquid info/fundingHistory, hourly rate averaged per UTC day); our own capture of the same venue's rate from 2026-04-11 on (the daily mean of our tick capture, one read every five seconds — about 17 thousand a day); normalized ×0.9865 on 149 overlapping days (2026-04-11 → 2026-09-12, r 0.9895, p90 of what is left after it 0.019 bp of the hourly rate). The factor is not copied from anywhere: it is re-measured from the overlap file on every build and came out ×0.9865 on this one |
| provenance · sol | the venue's own daily series before 2026-04-11 (Hyperliquid info/fundingHistory, hourly rate averaged per UTC day); our own capture of the same venue's rate from 2026-04-11 on (the daily mean of our tick capture, one read every five seconds — about 17 thousand a day); normalized ×0.9899 on 149 overlapping days (2026-04-11 → 2026-09-12, r 0.9847, p90 of what is left after it 0.025 bp of the hourly rate). The factor is not copied from anywhere: it is re-measured from the overlap file on every build and came out ×0.9899 on this one |
| 🩸 the factor, and what it does | the rate crosses zero, so the factor is NOT a median of ratios (dividing noise by noise): it is a least-squares fit through the origin over the overlapping days, re-measured on every build. It came out 0.9874 / 0.9865 / 0.9899 on BTC / ETH / SOL, which is what the files apply. Effect, measured on the half it is applied to (the venue's own history, 2023-05-15 → 2026-04-11): it lowers that half's average rate by 1.26% (BTC), 1.35% (ETH) and 1.01% (SOL) — on BTC +14.6369% a year becomes +14.4525%, on ETH +14.3270% becomes +14.1336%, on SOL +11.8395% becomes +11.7200%. |
| 🩸 the size of the noise | p90 of what is left after the factor, measured on this build over the overlapping days: 0.017 bp (BTC), 0.019 bp (ETH), 0.025 bp (SOL) of the hourly rate. On the join day itself the two halves are 0.022 / 0.036 / 0.074 bp apart. The likely cause is the hour grid: an average of 24 hourly prints and an average of about 17 thousand ticks are not the same average when the rate moves inside the hour. |
| 🩸 what the join is not | the two halves are NOT two independent sources. Both numbers come from the same exchange: its own published daily history before the join, our own snapshots of its live ticker after. What the overlap measures is therefore consistency of two readings of one venue, not agreement of two witnesses — and that is why the factor, the correlation and the worst day are printed instead of a verdict word. |
| gaps | all three lines: 6 days missing in our capture (2026-05-01, 2026-05-02, 2026-05-03, 2026-05-04, 2026-05-05, 2026-05-06) — the line breaks there, nothing is filled in. The venue's own half also has hours missing inside some 2023-2024 days — the daily average there is over the hours it published, not over 24 |
| units | the number is a PERCENT PER HOUR, the unit the venue itself charges in: +0.0010% an hour is about +8.8% a year. The second view does that multiplication (×24×365) so the rate can be read against a yield. Nothing is converted to basis points here — on a rate this small the bp version reads as a wall of zeroes. |
| cadence | daily average of hourly rates, UTC. The running UTC day is cut out of the line and shown hollow |
| since | 2023-05-15 — the earliest hour the venue's endpoint returns; 1,251 days, of which 1,062 come from the venue's own history and 189 from our own capture |
| 🩸 where it is thinner | three coins on one venue. Hyperliquid is not the market and its funding is its own: the same three coins pay a different rent on Binance and on Bybit, and the difference between those rents is a trade in itself, which this page does not draw. The series is also too young for this site's five-year rank, so the tile says «day N». And a daily average hides the hour: a day whose average is zero can be a day the rate swung hard both ways. |
| policy | no backfill · read it here · export: from 2026-04-11 (rows before that day are the exchange's own archive and stay here) |
| hourly window | prod hyperliquid_funding_1h, the venue's own hourly print · since 2025-09-18 22:00Z by data, 9,598 hours with data inside a 9,598-hour span → 2026-10-23 19:00Z (the newest 400 days of an hourly record that starts 2024-05-24; the Tape and Desk windows draw these 400 days) · captured 2026-10-23T21:21:56Z |
| this build | data to Oct-22 2026 |
| policy | no backfill · read it here · export: from 2026-04-11 (rows before that day are the exchange's own archive and stay here) |
The chart itself is drawn in the browser: turn JavaScript on to hover a day, pick a window and draw your line. The numbers above come from the last build, Oct-23 2026 21:24Z.
What the tape says today · what's new · all 111 metrics