Funding

Funding is an hourly payment between longs and shorts that keeps a perp's price near its oracle price. With no premium, most markets charge longs a small base rate, the interest rate; the further the perp trades above the oracle, the more longs pay, and far enough below it, shorts pay longs. Every live perp on Hyperliquid's main exchange and its builder exchanges, live. Each market's page breaks its rate into its parts and shows its history.

Formula and parameters: Hyperliquid's documentation (funding; HIP-3 deployer actions). See also all markets.