CalculatorsFunding rate
Funding rate calculator
Pick Hyperliquid or Lighter and a market, and the current hourly funding rate is filled in from the exchange’s own data. Add the side, the size and how long you hold, and the calculator shows what the position pays or earns. For any other exchange, type the rate it quotes.
You pay
$20.68
Over 7 days, if the rate holds
Per day
$2.95
Annualized rate
+10.78%
+0.00123% an hour, +0.00985% per 8 hours
| Exchange | Per hour | Annualized |
|---|---|---|
| Hyperliquid | +0.00123% | +10.79% |
| Lighter | +0.0001% | +0.88% |
Positive funding is paid by longs to shorts, negative by shorts to longs. Real payments follow the rate hour by hour, so treat a week ahead as an estimate.
How funding works
A perpetual contract has no expiry, so funding is what keeps its price near the spot price. When the contract trades above spot, the rate turns positive and longs pay shorts; below spot, shorts pay longs. Hyperliquid and Lighter both settle every hour, most centralized exchanges every eight.
The cost scales with size and time: $10,000 held for a week at 0.00125% an hour pays about $21. That is small next to a trading fee until the rate spikes: on a crowded trade it can climb far higher, and Hyperliquid caps it only at 4% an hour. For what funding does to a position’s safety, see the liquidation price calculator, and for sizing a trade from its stop, the position size calculator.
Educational tooling, not financial advice; see the disclaimer. Rates on this page were read from Hyperliquid and Lighter on October 13 at 14:29 UTC.
Questions people ask
Each payment is the position’s value times the funding rate for the interval. When the rate is positive longs pay shorts, when it is negative shorts pay longs, and the exchange takes no cut on either venue here.
Every hour. Hyperliquid computes an 8-hour rate and pays an eighth of it each hour, on the position size times the oracle price, and caps funding at 4% an hour.
Its formula carries a fixed interest component of 0.01% per 8 hours, which is 0.00125% an hour or about 11.6% a year paid by longs. The premium of the contract over the spot price moves the rate around that level.
At every hour mark. Payments run peer to peer between longs and shorts with no fee taken by the exchange, and the rate follows the premium of the contract over the index price.
The hourly rate times 24 times 365, without compounding. It makes funding comparable with a lending or vault yield, but it only holds if the rate does, and funding rarely stays put for long.
Yes. Funding is taken from or added to your margin as it is paid, so a position that pays funding drifts towards liquidation. The liquidation price calculator shows where that line sits.
Funding counted in your real PnL
TrueHold tracks funding per position on Hyperliquid and Lighter and includes it in PnL, next to your exchanges, wallets and DeFi.
TrueHold is an independent tool and is not affiliated with, sponsored or endorsed by Hyperliquid or Lighter. Names and logos belong to their owners.