metaAndAssetCtxs API, 08:17 UTC 13 Aug 2026. Informational only — not advice — past performance does not indicate future results.Perpetual funding rates describe the periodic payment between the long and short sides of a market. When longs dominate, they pay shorts to keep the perpetual anchored to spot; when shorts dominate, shorts pay longs. The funding rate is a direct measure of which side is paying, and how much, at any given moment.
On 13 August 2026 at 08:17 UTC, three of Hyperliquid’s five largest markets by open interest show three structurally different regimes simultaneously. The data is sourced from the Hyperliquid metaAndAssetCtxs API and describes a point-in-time snapshot — not a trailing average. See the guide to perp funding as a crowding gauge for how this mechanism works.
| Asset | Open Interest | Price | Funding APR | Daily Carry | Direction |
|---|---|---|---|---|---|
| BTC | $2,582M | $63,792 | +1.0% | ~$70,700/day | Longs → Shorts |
| ETH | $1,652M | $1,892 | +10.95% | ~$495,200/day | Longs → Shorts (at cap) |
| HYPE | $1,238M | $57.07 | +10.95% | ~$371,400/day | Longs → Shorts (at cap) |
| SOL | $383M | $76.23 | −4.45% | ~$46,700/day | Shorts → Longs |
Source: Hyperliquid metaAndAssetCtxs API. Snapshot: 13 Aug 2026, 08:17 UTC. Daily carry = OI × funding APR ÷ 365. Funding rates settle hourly; APR shown as hourly rate × 24 × 365 × 100. Actual daily settlement varies as the rate resets each hour. ETH included for completeness; the ETH staking vs perp funding comparison was covered in a 13 Aug 2026 insight.
HYPE’s perpetual carries $1.238B in open interest — the third-largest on Hyperliquid behind BTC and ETH — and is trading at the platform’s funding ceiling of 10.95%/yr. HYPE closed the day at $57.07 (+3.68%).
At the cap and on $1.24B OI, longs pay shorts approximately $371,400 per day in aggregate: $1.238B × 10.95% ÷ 365. That figure describes the total transfer between sides at the snapshot rate — it is not a return available to any individual position holder, which depends on position size, entry price, and the rate across each individual hourly settlement. The Hyperliquid funding cap is a structural design element that limits both the maximum observable carry cost for longs and the maximum observable carry income for shorts.
See the HYPE market page for current price and open interest context.
SOL’s perpetual funding rate is negative at this snapshot: −4.45%/yr on $383.2M in open interest. The rate has previously flipped negative on Hyperliquid, as documented in an earlier insight.
Negative funding means shorts pay longs: at −4.45%/yr on $383.2M OI, the arithmetic daily transfer from shorts to longs is approximately $46,700/day ($383.2M × 4.45% ÷ 365). This is not a return available to or offered by ARX — it accrues to holders of long perpetual positions at the Hyperliquid protocol layer while the rate is negative. Negative funding can change at any point; past rates do not indicate future settlement.
The 15.4 percentage-point spread between HYPE (+10.95%) and SOL (−4.45%) is the widest across the top-five markets at this snapshot. By comparison, BTC at +1.0%/yr sits almost exactly between the two extremes.
See the SOL market page for current price and open interest context.
BTC carries $2.582B in open interest — the largest on Hyperliquid by a significant margin — at a funding rate of +1.0%/yr. That is close to zero by the standards of this market: the daily carry is approximately $70,700 ($2.582B × 1.0% ÷ 365), trivial relative to the OI. Longs and shorts are in near-balance at this snapshot.
For context: on 4 August, BTC funding briefly turned negative on Hyperliquid. By 13 August it has recovered to just above zero — but has not reached the cap that ETH and HYPE occupy. The largest market on the platform is currently expressing the least directional conviction of the top five by the funding measure.
See the BTC market page for current price and open interest context.
On-chain funding and open-interest data, several times a day.
Join ARX Telegram →This is market data commentary for informational purposes only, prepared on a best-efforts basis from publicly available data. It does not constitute financial, investment, legal, or tax advice, or a recommendation to buy, sell, or hold any asset or take any trading action. Funding rates and open interest describe observable protocol-level data at a point in time; past funding rates, open interest, and positioning do not predict future outcomes. Negative funding accrues at the Hyperliquid protocol layer and is not a return available to or offered by ARX. Leverage, where available, is offered by the Connected Protocol, not by ARX, and can result in the rapid and total loss of any amount deployed. Interacting with on-chain perpetual markets is high-risk — you may lose all or a substantial portion of any amount deployed; conduct your own independent assessment. Data sourced from the Hyperliquid metaAndAssetCtxs API; point-in-time snapshot, 13 Aug 2026 08:17 UTC. ARX is a non-custodial SaaS analytics and order-transmission platform: at the user’s explicit instruction, ARX formats and transmits the user’s own order to a Connected Protocol. ARX does not execute, match, or settle orders, does not custody funds, does not manage assets, does not offer leverage, and is not a counterparty — matching and settlement occur at the Connected Protocol. Not available to Prohibited Persons or in Restricted Jurisdictions. T&C · Privacy Policy · Disclosures · Risk.