| Market | Price | 24h | OI | Funding APR |
|---|---|---|---|---|
| BTC | $64,275 | +1.84% | $2.76B | −9.1% |
| HYPE | $58.50 | +1.52% | $1.32B | −2.3% |
| ETH | $1,905 | +1.02% | $1.76B | +10.95%* |
| SOL | $75.65 | +0.52% | $384M | +10.95%* |
* ETH and SOL at 10.95%/yr = Hyperliquid’s protocol baseline rate, active when spot premium ≈ 0. Not a crowding signal. Source: Hyperliquid live API. Snapshot: 18 Aug 2026 04:20 UTC.
| BTC Funding (Recent) | Rate | Type |
|---|---|---|
| Aug 17 08:17 UTC (~20h ago) | −0.17%/yr | Live-predicted (prior snapshot) |
| Aug 17 20:00 UTC (last settled) | −1.47%/yr | Actual hourly settlement |
| Aug 18 04:20 UTC (live) | −9.1%/yr | Live-predicted (current) |
Live-predicted rate = order-book-implied rate at snapshot time; settles at the next hourly mark. APR: −0.00104%/hr × 8,760 hr/yr = −9.1%/yr. Source: Hyperliquid API, 18 Aug 2026 04:20 UTC.
On Hyperliquid, funding settles every hour. When the rate is negative, the net-short side — those positioned for a price decline — compensates the net-long side. The live rate of −9.1%/yr reflects the current order-book premium (computed as −0.00104%/hr × 8,760 hr/yr). At the next hourly settlement, shorts would pay longs approximately $28,700 ($2.76B × 0.00104%). If today’s settlements hold near this predicted rate, the 24-hour carry totals ~$688K. If settlements revert toward the last settled rate of −1.47%/yr (Aug 17 20:00 UTC), the daily carry would be closer to ~$111K.
~20 hours ago, the prior published snapshot read −0.17%/yr — a barely negative live-predicted reading. The current live-predicted rate is roughly 54× that snapshot (both are order-book readings, not settled amounts; the most recent actual settlement was −1.47%/yr, approximately 6× the prior snapshot). The table above distinguishes live-predicted rates from actual settlements.
Meanwhile, BTC price is up 1.84% over the past 24 hours. The short crowd paid to hold a position that moved against it. See the live BTC order book and funding on the BTC market page.
The four largest Hyperliquid perp markets each tell a different story. BTC and HYPE are both negative — the on-chain crowd is net short on the two highest-profile crypto assets. ETH and SOL sit at the 10.95%/yr protocol baseline: this is Hyperliquid’s fixed interest-rate floor, not a crowding signal. It activates whenever spot premium is approximately zero, meaning neither longs nor shorts hold a structural advantage. ETH and SOL are neither crowded long nor short; BTC and HYPE are measurably net short.
Funding is a cost, not a forecast. The negative BTC rate tells you who is paying whom — it does not tell you whether the trade is right. Shorts collecting on a correct call would still pay funding on the way there. What the data records is the arithmetic of current positioning. Read the mechanics in the Hyperliquid Fees & Funding guide.
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Join ARX Signals →Not financial advice. Data sourced from Hyperliquid live API. Point-in-time snapshot, 18 Aug 2026 04:20 UTC. Live funding rates are predicted; actual settlements occur hourly and may differ.