What funding rates tell you
Perpetual futures never expire, so exchanges use funding payments to keep their price close to spot. When the perp trades above spot, longs pay shorts (positive funding); when it trades below, shorts pay longs. Very high positive funding means traders are crowded on the long side and paying up for leverage; deeply negative funding means the opposite.
- Funding / hr: the current hourly rate on Hyperliquid.
- Funding APR: the hourly rate × 24 × 365, to compare with other yields.
- Premium: how far the perp trades above or below the oracle (spot) price.
- Open interest: the value of all open positions, at the mark price.
Frequently asked questions
Why Hyperliquid?
Its public API gives funding, open interest and volume for every market in a single request, with no key and no regional block, so the screener works for everyone.
Do funding rates differ between exchanges?
Yes. Each exchange sets its own rate from its own prices and charges it on its own schedule (Hyperliquid every hour, many others every eight hours).