| Metric | Value | Note |
|---|---|---|
| Mark price (18 Aug 04:20 UTC) | $0.32826 | — |
| Oracle price | $0.32865 | Spot reference |
| Perp premium | −0.12% | Mark trades below oracle |
| Previous close (17 Aug) | $0.36266 | Source: HL prevDayPx |
| 24h price change | −9.5% | $0.363 → $0.328 |
| Open interest | 79.0M contracts = $25.9M | — |
| Volume 24h | $8.1M | — |
| Raw hourly funding rate | −4.62 × 10−&sup5; | Decimal per hour |
| Funding (predicted, 18 Aug 04:20 UTC) | −40.5%/yr | Current order-book rate |
| Funding (last settled) | −32.3%/yr | Most recent hourly settlement |
| Funding (prior settlement) | −20.5%/yr | Period before last |
| Funding (third-most-recent) | +11.0%/yr | At baseline, before the flip |
| Daily carry (~−32.3%/yr basis) | ∼$28,800/day | Shorts → longs |
| Per-8h carry | ∼$9,600/8h | Shorts → longs |
| 7-Day Funding History | Periods | Share |
|---|---|---|
| At protocol baseline (~10.95–11.0%/yr) | 154 of 168 | 91.7% |
| Negative (shorts pay longs) | 7 of 168 | 4.2% |
| Most recent settlement | −32.3%/yr | Third consecutive period negative |
| Second-most-recent | −20.5%/yr | — |
| Hourly before that | +11.0%/yr | Last baseline period |
Source: Hyperliquid metaAndAssetCtxs and fundingHistory APIs, 18 Aug 2026 04:20 UTC. Funding APR = hourly rate (decimal fraction) × 24 × 365 × 100. HL’s funding field is the hourly rate; the 10.95%/yr protocol baseline corresponds to a raw value of approximately 1.25 × 10−&sup5;. OI in USD = contracts × mark price at snapshot. Carry estimate assumes OI and rate are sustained over the period — both change each settlement. Scope: Hyperliquid perpetual only; WLD trades on other venues not measured here.
On a perpetual DEX, the funding rate is a clearing mechanism between long and short positions. When the mark price trades above the oracle, longs pay shorts (positive funding). When the mark price trades below the oracle, shorts pay longs (negative funding). The rate settles hourly and is calibrated to close any mark–oracle gap.
At 04:20 UTC today, WLD’s mark price is $0.32826 against an oracle of $0.32865 — the perp trades 0.12% below the index. This discount is what produces the negative funding. It indicates that perp sell pressure (from new shorts, from longs closing) is slightly outpacing spot, pulling the perp mark below the oracle price.
For 154 of the prior 168 hours (seven days, 91.7% of the time), WLD perp ran at exactly the 10.95%/yr protocol baseline — no directional tilt in either direction. That baseline is not a signal; it is the neutral state when mark ≈ oracle. The last three hourly settlements broke from that neutrality: +11.0%/yr (baseline), then −20.5%/yr, then −32.3%/yr. The current order-book rate is approximately −40.5%/yr.
The carry arithmetic: at $25.9M OI and −32.3%/yr (last settled), short positions collectively pay long positions roughly $28,800 per day ($9,600 per 8-hour funding window) until funding resets. Shorts who entered during WLD’s drop are profitable on a mark-to-market basis if the price remains down, but they absorb a recurring carry cost into every settlement until the perp premium closes back toward zero.
Whether the funding flip reflects temporary imbalance that resolves quickly, or the beginning of a sustained short-bias regime, is not determinable from the current snapshot alone. What the data establishes is the structure as it stands — not a forecast of price or premium direction.
On-chain funding and positioning 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. Past market structure, funding rates, and positioning data do not predict future outcomes. 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 and fundingHistory APIs; 18 Aug 2026 04:20 UTC. Funding APR = hourly rate × 24 × 365, per Hyperliquid’s hourly settlement mechanism. 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. Services may not be available in all jurisdictions. Not available to Prohibited Persons or in Restricted Jurisdictions. T&C · Privacy Policy · Disclosures · Risk. Not financial advice.