| Market | Price | 24h | OI | Funding APR |
|---|---|---|---|---|
| ETH | $1,900 | +1.1% | $1.69B | +6.0% |
| BTC | $63,603 | +1.0% | $2.86B | −0.1% |
| SOL | $75.38 | +0.2% | $382M | −4.0% |
| HYPE | $59.34 | +3.7% | $1.35B | +10.95% |
ETH is the only major market holding meaningful positive funding above the baseline while BTC and SOL show net short pressure. Source: Hyperliquid live API. Snapshot: 17 Aug 2026 12:32 UTC.
| ETH 10-Day Metric | Count | Share |
|---|---|---|
| Positive-funding hours | 227 of 240 | 94.6% |
| Hours at 10.95%/yr baseline rate | 128 of 240 | 53.3% |
| Negative-funding hours | 13 of 240 | 5.4% |
| 10-day avg funding | +8.2%/yr | — |
| Estimated 10-day carry paid | ~$3.8M | — |
Hourly settlement data from Hyperliquid fundingHistory. Carry estimate: $1.69B OI × avg rate / 365 × 10 days. Aug 7–17 window.
For 10 consecutive days, ETH perp longs on Hyperliquid paid to hold their positions in 94.6% of hourly settlements. In 128 of those 240 hours, the rate settled at exactly the 10.95%/yr baseline — the protocol’s fixed interest-rate component, active when ETH traded near oracle price with no premium. The remaining 99 positive hours sat above that baseline, reflecting active long-side premium. The 10-day average of +8.2%/yr translated to roughly $3.8M in carry paid by the long side over that window.
Today’s rate of +6.0%/yr on $1.69B OI puts the daily carry at approximately $277K. ETH longs are still paying, at a reduced but active rate. See live ETH positioning on the ETH market page.
The contrast with BTC sharpens the picture. BTC, with $2.86B in OI — the largest on Hyperliquid — is at -0.1%/yr. Shorts marginally pay longs. Both assets moved roughly +1% in price over the past 24 hours. Same price direction, opposite perp positioning.
Funding is a cost, not a directional signal. Longs paying to hold ETH perps reflects the price of being long in the on-chain crowd at this moment. Whether that crowd is correctly positioned is a separate question the perp book does not answer.
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Join ARX Signals →Not financial advice. Data sourced from Hyperliquid live API. Point-in-time snapshot, 17 Aug 2026 12:32 UTC.