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MONITOR · FUNDING
Funding
Perp funding across the venues we track, as an annual rate. Positive means longs pay shorts, so a short collects it: that is the income side of a delta-neutral trade. Points are paid on top by some venues and are shown separately.
HYPE13 venuesevery 30 minNot financial advice
Where a HYPE short earned most this week
- Pacifica13.97%7d avg(+6.65 pp vs Hyperliquid)points
- Lighter8.05%7d avg(+0.73 pp vs Hyperliquid)points ended
- Hyperliquid7.32%7d avgpoints ended
A rate is not a reason on its own: check the venue's custody and our verdict before moving margin. Size a delta-neutral trade · How the trade works
HYPE funding by venue
| Venue | Now | 24h | 7d | 30d | Neg. 30d | 30d trend | Points | Token |
|---|---|---|---|---|---|---|---|---|
| Pacifica caution | 10.95% | 10.95% | 13.97% | 9.09% | 11% | points | none yet | |
| Lighter | 10.51% | 10.51% | 8.05% | 7.35% | 12% | points ended | LIT | |
| Hyperliquid caution | 10.95% | 10.95% | 7.32% | 9.26% | 12% | points ended | HYPE |
Every rate is normalised to one hour and annualised (rate x 8,760). A cell stays empty until the venue's history covers most of its window: Variational, NADO, GRVT and Hibachi joined on 4 October, so their 7d and 30d fill in over the coming weeks. Many venues pay a floor of about 10.95% a year when the market is quiet. Hover a points chip for what earns points and when we checked it.
What it costs to get out of HYPE
| Venue | Close a short (buy) | Close a long (sell) | ||||
|---|---|---|---|---|---|---|
| $10k | $100k | $1M | $10k | $100k | $1M | |
| Pacifica | <1 bp | beyond book | beyond book | <1 bp | beyond book | beyond book |
| Lighter | <1 bp | 1 bp | 6 bp | <1 bp | 1 bp | 7 bp |
| Hyperliquid | <1 bp | beyond book | beyond book | <1 bp | 2 bp | beyond book |
| Extended | ||||||
Lighter: No points on the main exchange: Season 2 ended 26 Dec 2025. Points run only on the separate Lighter instance on Robinhood Chain (USDG-quoted, a different venue, not open in the US, UK, Canada and some other regions), and this board reads the main exchange.
Ostium: Not on the board: Ostium charges a per-block rollover fee instead of funding, caps crypto pairs at $100k of open interest a side ($25k on HYPE), and lost $23.75M from its vault on 15 Jul 2026. Its points status since then is unclear.
Where the points statuses come from
- Hyperliquid · points ended · checked 2026-10-04 · source
- Pacifica · points · checked 2026-10-04 · source
- Variational (Omni) · points · checked 2026-10-04 · source
- NADO · points · checked 2026-10-04 · source
- Extended · points ending · checked 2026-10-04 · source
- Paradex · points · checked 2026-10-04 · source
- Hibachi · points · checked 2026-10-04 · source
- Lighter · points ended · checked 2026-10-04 · source ·