Hyperliquid funding rates: October 2026

Findings

• In October 2026, longs paid shorts in 88.9% of the 132,545 market-hours across Hyperliquid's 179 perpetuals, down from 92.7% in September.
• Hyperliquid funding sat at exactly its +0.00125% hourly baseline in 80.1% of market-hours in October 2026 (78.6% in September).
• Bitcoin's funding on Hyperliquid averaged 8.79% annualised in October 2026, against 8.78% in September.
• Of the 178 Hyperliquid perpetuals listed all of October 2026, 25 averaged negative funding, and the median annualised to 9.25% (11.19% in September).
• Among Hyperliquid perpetuals listed all of October 2026, BLUR's funding was the most negative, -273.55% annualised, and GRIFFAIN's the highest, 33.09%.
• Hyperliquid's 0.5% hourly funding cap bound twice in October 2026: in one hour each, RSR shorts (12 October) and BLUR shorts (29 October) paid exactly 0.5% of their position's value, where Hyperliquid's formula would otherwise have charged about 1.02% and 0.60%.
• Funding on Hyperliquid's BTC, ETH and SOL perpetuals never rose above the +0.00125% baseline in any hour of October 2026.

Who paid whom

On Hyperliquid a quiet market still pays a small positive rate. Whenever a perpetual's premium over its oracle price stays within 0.05% of the interest rate, funding is exactly that rate, +0.00125% an hour, paid by longs to shorts. In October that was the rate in 80.1% of all 132,545 market-hours. Longs paid in 88.9% of market-hours and shorts in 11.1%.

The median market listed all month annualised to 9.25%, against the baseline's 10.95%. Of those 178 markets, 25 averaged negative funding, and BLUR, SAND and ALT averaged worse than -100% a year: at that pace a short pays more than its position's value in funding within twelve months.

The majors

Of the six, only HYPE averaged above the baseline's 10.95% annualised. BTC, ETH and SOL funding never rose above the baseline in any hour: it was the baseline or lower all month.

Where longs paid most

The ten highest average rates among the 178 markets listed all month. GRIFFAIN led at 33.09% annualised: at October's pace, a year of holding a long would cost 33% of the position's value in funding.

Where shorts paid most

The ten lowest. BLUR averaged -273.55% annualised: at that pace, a short would pay 2.7 times its position's value in funding over a year. The hardest single day belonged to BLUR: on 29 October its shorts paid 4.90% of their position's value in 24 hours.

The hours that broke the pattern

The highest hour on any market was +0.05690% (HMSTR, 4 Oct, 02:00 UTC), about 46 times the baseline. The lowest, -0.50000%, came twice, each time at Hyperliquid's hourly cap: RSR on 12 Oct, 06:00 UTC and BLUR on 29 Oct, 05:00 UTC. In each of those hours shorts paid longs 0.5% of their position's value; without the cap, Hyperliquid's formula would have set the rate at about -1.02% for RSR and -0.60% for BLUR. RSR's funding for 12 October added up to -4.14%.

Every market

The same figures with hour counts, for your own analysis: hyperliquid-funding-2026-10.csv. If you publish something built on it, a link to this page is appreciated. To cite whichever month is newest, link watchcrypto.io/reports/hyperliquid-funding: it always leads to the latest edition.

How to read these numbers

• Source. Hyperliquid's public API: the funding history of every perpetual it lists, fetched on 13 November 2026. That is every payment from 1 October 00:00 to 31 October 23:00 UTC, 744 hours per market.
• APR. The average hourly rate × 8,760, not compounded, the same as the APR column on the live funding page. Hyperliquid's documentation gives the baseline as 11.6% APR, which compounds it; carried simply, +0.00125% an hour is 10.95% a year.
• Who pays. A positive rate means longs pay shorts; negative, shorts pay longs. Funding is charged on the position's value (size × oracle price), not on margin, so leverage multiplies its cost.
• What is ranked. Only the 178 markets with a payment in every hour. XTEN (listed 27 October) is in the full table and the CSV but not ranked. Hyperliquid's list also holds 56 delisted perpetuals. None of them paid funding in October: their history for it is only hours at exactly zero. They are left out, as are builder-deployed (HIP-3) markets.
• The cap. Hyperliquid caps funding at 0.5% an hour. Its documentation gave 4% in the copy archived on 22 October and 0.5% when read on 13 November 2026. The data shows the 0.5% cap in force by 12 October: RSR on 12 Oct, 06:00 UTC and BLUR on 29 Oct, 05:00 UTC were held at exactly -0.50000%, and Hyperliquid's published formula gives every other hour of the month, all 132,543 of them, to every decimal shown here.
• Reproducible. Every figure comes from the API with one script, the same for each month. Times are UTC.

This report describes funding that has already been paid. It is not a forecast or investment advice, and WatchCrypto is not affiliated with Hyperliquid. For how the rate is set, see how Hyperliquid funding works; to price funding into a trade you are planning, use the Hyperliquid calculator; for the basics, read perpetual futures explained.