Methodology and data sources

Current snapshot Fri, 16 Oct 2026 22:39:13 UTC · page reviewed 16 Oct 2026

Sources

Venue	Endpoint	Fields used
Hyperliquid	`POST api.hyperliquid.xyz/info` type `metaAndAssetCtxs`	market list, hourly funding, open interest (coins) × mark price, 24h notional volume, premium, max leverage
Hyperliquid	`info` type `fundingHistory`	hourly funding for the last 7 days (token pages)
Hyperliquid	`info` type `predictedFundings`	Binance and Bybit reference rates with their intervals
Lighter	`GET mainnet.zklighter.elliot.ai/api/v1/orderBookDetails`	active perp markets, mark price, open interest (base) × mark, 24h quote volume, fees, margin fractions
Lighter	`GET /api/v1/funding-rates`	Lighter's own current rate (8h basis) plus Binance/Bybit/Hyperliquid comparables
Lighter	`GET /api/v1/fundings` (1h resolution)	hourly funding history, 7-day average (token pages)
Aster	`GET fapi.asterdex.com/fapi/v1/premiumIndex`, `fundingInfo`, `ticker/24hr`, `exchangeInfo`	last funding rate, funding interval, next funding time, 24h quote volume, trading status (USDT perpetuals only)
Aster	`GET /fapi/v1/fundingRate`, `openInterest`	7-day funding history and open interest for tokens with a detail page

Fee schedules, funding formulas and program terms on venue and comparison pages are quoted from the official documentation (links on each page) as of 16 Oct 2026. They are not pulled automatically and may lag changes.

Normalisation

Every rate is stored internally as an hourly fraction. Hyperliquid publishes an hourly rate (used as is). Lighter's funding-rates values are on an 8-hour basis and are divided by 8; its fundings history is percent per hour and is divided by 100. Aster's lastFundingRate is per its interval and is divided by the interval in hours.
Displayed 8h-equivalent = hourly × 8. Annualised (APR) = hourly × 8,760, simple (not compounded).
Sign convention everywhere: positive = longs pay shorts.
Tokens are matched across venues by base symbol. Hyperliquid's k prefix and the 1000 prefix used by Lighter and Aster both denote 1,000-unit contracts and are mapped to the same token (kPEPE = 1000PEPE = 1000PEPEUSDT). Lighter spot pairs (/USDC) and Aster non-USDT quotes are excluded.
Open interest in USD = contracts × mark price on that venue. Aster's totals are not summed because its API reports OI per market.
"Max DEX gap" = highest DEX hourly rate − lowest DEX hourly rate for the token, among venues that report a rate.

DEX Funding Index

Σ(hourly rate × open interest in USD) ÷ Σ(open interest) over every Hyperliquid and Lighter perpetual with a published rate and non-zero open interest, × 8,760 for the annualised figure. Components restrict the sum to one venue; the DEX vs Binance premium replaces the rate with (Hyperliquid rate − Binance rate) over tokens with a Binance reference. Aster is excluded (per-market OI only). Method, chart and limits: index page.

Archive and open data

Each hourly rebuild appends one row per index reading and one row per token-venue pair (the 50 tokens with a detail page, plus the Binance reference) to a CSV archive kept with the site's source. The archive is served as files on /data/ under CC BY 4.0. Index readings before the launch snapshot are backfilled from the venues' funding history with launch-day open interest as the weight and marked backfill; the venues do not publish historical open interest.

Fees in the arbitrage figures

Net figures on the arbitrage page and token pages assume four taker fills (open and close on both legs) at each venue's base tier: Hyperliquid 0.045%, Lighter 0% (Standard account), Aster 0.04% for general crypto pairs. Net = notional × gap × hours − notional × 2 × (taker long + taker short); break-even hours = 2 × (taker long + taker short) ÷ hourly gap. "7d-stable" marks a gap whose 7-day average is at least half the current gap and positive. "Cost of holding" on token pages sums the venue's 7-day hourly series × $10,000.

Refresh

The site is rebuilt from a fresh pull every 30 minutes; the snapshot time in the footer and on each page is the time of that pull in UTC. In the browser, current funding rates in tables are refreshed from the venues' public APIs on page load and every five minutes; derived figures (APR, gaps, 7-day averages, open interest) stay as of the snapshot. The hourly archive keeps one reading per hour.

Which tokens get a page

A token gets its own page when it trades on at least two of the three venues and has at least $5M of open interest on Hyperliquid, capped at the 50 largest. At this snapshot 236 tokens trade on two or more venues; the rest appear as rows in the funding hub. The gate exists so that each page carries real multi-venue data rather than a single rate repeated under a different heading.

Known limitations

Binance and Bybit rates are reference values taken from Hyperliquid's feed, not from the exchanges directly.
Lighter open interest and volume come from its orderBookDetails response; Lighter's own interface may present different aggregates.
Aster lists the same base on several quote assets (USDT, USD1); only USDT perpetuals are tracked.
Delisted or inactive markets are excluded at pull time. A token that is listed on one venue and delisted on another will show a dash.
The archive starts on 16 October 2026; before that only the venues' 7-day windows exist. Hourly readings are taken a few minutes past the hour, so a rate that changed within the hour is captured at the next reading.

Found an error? See about for how to reach us.