Hyperliquid perpetuals: funding, fees and live markets
The largest perp DEX by open interest in this dataset. Hourly funding, CEX-style formula, volume-tiered fees with maker rebates. 89% of its markets have positive funding at this snapshot.
Share of combined Hyperliquid + Lighter open interest ($11.89B); Aster reports OI per market only. OI-weighted rate = this venue's DEX Funding Index component.
How Hyperliquid computes funding
- Interval
- Every hour, at 1/8 of the computed 8-hour rate
- Interest component
- 0.01% per 8 hours (0.00125% per hour, about 11.6% APR paid to shorts)
- Premium and clamp
- clamp(interest − premium, −0.05%, +0.05%); premium sampled every 5 s and averaged over the hour
- Formula
F = average premium index + clamp(interest rate − premium index, −0.0005, 0.0005), applied as an 8-hour rate and paid hourly at one eighth
Funding is peer-to-peer on all three venues: the exchange does not take a cut of funding payments. Source: Hyperliquid docs: Funding.
Trading fees
- Maker
- 0.015%
- Taker
- 0.045%
- Schedule
- Base tier (tier 0). Fees fall with 14-day rolling volume down to 0.024% taker / 0% maker at >$7B; staking tiers (Wood to Diamond) discount further. Maker rebates at tier 4+.
- Accounts
- Perps and spot share one fee tier; spot volume counts double. Referral discount 4% for the first $25M of volume.
- Chain
- Hyperliquid L1 (HyperCore order book, HyperEVM)
Referral and builder programs
- Referrals
- Referral codes available after $10,000 of own volume: referrer earns 10% of referred users' fees, referee gets a 4% fee discount on the first $25M.
- Builders
- Builder codes: an app may charge up to 0.1% on perps and 1% on spot per order (user approves a maximum fee once). Builder needs ≥100 USDC in the perps account.
Largest Hyperliquid markets right now
Ranked by open interest on Hyperliquid.
| Market | Funding 8h | APR | Open interest | 24h volume |
|---|---|---|---|---|
| BTC BTC | 0.0100% | 10.9% | $3.36B | $2.87B |
| ETH ETH | 0.0049% | 5.4% | $2.61B | $1.01B |
| HYPE HYPE | 0.0100% | 10.9% | $1.59B | $331.5M |
| SOL SOL | 0.0045% | 5.0% | $574.2M | $325.8M |
| ZEC ZEC | 0.0100% | 10.9% | $532.2M | $326.3M |
| NEAR NEAR | 0.0100% | 10.9% | $316.1M | $188.9M |
| XRP XRP | 0.0100% | 10.9% | $226.7M | $53.3M |
| PUMP PUMP | 0.0100% | 10.9% | $185.8M | $99.1M |
| LIT LIT | 0.0100% | 10.9% | $133.1M | $30.3M |
| DOGE DOGE | 0.0100% | 10.9% | $99.0M | $4.6M |
| ENA ENA | 0.0100% | 10.9% | $98.8M | $41.8M |
| ZRO ZRO | 0.0100% | 10.9% | $77.3M | $34.9M |
| WLD WLD | 0.0100% | 10.9% | $70.7M | $63.3M |
| UNI UNI | 0.0036% | 3.9% | $69.0M | $13.7M |
| VVV VVV | 0.0100% | 10.9% | $65.6M | $11.1M |
Markets only Hyperliquid lists
Perps that trade on Hyperliquid alone, largest 12 by open interest.
Compare
Sources
- Hyperliquid docs: Funding
- Hyperliquid docs: Fees
- Hyperliquid docs: Builder codes
- Hyperliquid docs: Referrals
- Live data: Hyperliquid public API, snapshot Fri, 16 Oct 2026 22:39:13 UTC (endpoints)
Official app: https://app.hyperliquid.xyz. Documentation: https://hyperliquid.gitbook.io/hyperliquid-docs. Facts above are quoted from the documentation on the date shown and can change without notice; the venue's own docs prevail.