Perpys
Live · 21:37 UTC
Perp DEX funding · 8h basis · snapshot 16 Oct 2026 21:37 UTC

Funding rates across perp DEXs, on one basis.

What a trader actually pays on Hyperliquid, Lighter and Aster, side by side. Hyperliquid and Lighter settle every hour; Aster uses 1, 2, 4 or 8-hour intervals per market. Every rate here is an 8-hour equivalent so the venues compare directly. How rates are normalised.

DEX Funding Index · OI-weighted · APR
+8.91%
longs are paying shorts across 375 Hyperliquid and Lighter markets · -1.46 pts / 24h
11.2%0.0%-8.7%10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct
$11.87B open interest · $8.87B 24h volume · 969 markets · 236 tokens on two or more DEXs
Longs paid shorts · 24h · Hyperliquid top-50
$2.8M
estimate: each hour's rate × current open interest · how it is counted
Most expensive long to hold now
STRK36.7% APR on Hyperliquid
0.0335% per 8h · a $10,000 long pays $10.06 a day at this rate
Best funding gap net of fees · 7-day hold
CASHCAT247.2% net APR
long Hyperliquid · short Lighter · breaks even after 4h · all gaps
Hyperliquid178 markets
$11.34Bopen interest
24h volume $5.83B · funding every 1h · fees 0.015% maker / 0.045% taker
Lighter213 markets
$524.8Mopen interest
24h volume $1.99B · funding every 1h · fees 0% maker / 0% taker
Aster578 markets
$1.06B24h volume
funding every 1/2/4/8h · fees 0% maker / 0.04% taker
Top 25 by Hyperliquid open interest

Funding right now, 8-hour equivalent

Positive: longs pay shorts. Negative: shorts pay longs. "HL 7d" is the last 168 hourly settlements on Hyperliquid. "Max DEX gap" is the annualised difference between the highest and lowest DEX rate for the token. Full list on the funding rates hub.

TokenHyperliquid 8hLighter 8hAster 8hBinance 8hHL 7dMax DEX gap (APR)Open interest
BTC0.0100%0.0096%0.0100%0.0100%0.4%$3.37B
ETH0.0032%0.0096%0.0060%0.0044%7.0%$2.60B
HYPE 4h0.0100%-0.0024%0.0100%0.0100%13.6%$1.60B
SOL0.0070%0.0096%0.0023%0.0016%8.0%$574.3M
ZEC0.0100%0.0096%0.0100%0.0100%0.4%$532.4M
NEAR0.0100%0.0096%0.0100%0.0003%0.4%$309.0M
XRP0.0100%0.0040%-0.0006%-0.0052%11.6%$226.2M
PUMP 4h0.0100%0.0096%0.0100%0.0071%0.4%$181.2M
LIT 4h0.0100%0.0096%0.0100%0.0100%0.4%$133.7M
ENA 4h-0.0025%0.0096%0.0100%0.0047%13.7%$98.8M
DOGE0.0100%0.0096%-0.0003%0.0001%11.3%$98.6M
ZRO 4h0.0100%0.0224%0.0100%0.0100%13.6%$78.1M
WLD0.0100%0.0096%0.0100%-0.0055%0.4%$70.2M
UNI0.0046%-0.0032%0.0100%0.0005%14.5%$68.5M
VVV 4h0.0100%0.0096%0.0100%0.0100%0.4%$66.4M
XMR0.0100%0.0096%0.0100%0.0100%0.4%$64.8M
XPL 4h0.0100%0.0096%0.0100%0.0100%0.4%$63.6M
SUI0.0100%0.0096%0.0100%0.0086%0.4%$62.8M
AAVE0.0036%0.0096%0.0100%0.0066%7.0%$61.6M
LINK0.0100%-0.0216%0.0100%0.0003%34.6%$60.9M
STRK 4h0.0335%0.0096%0.0100%0.0100%26.2%$51.3M
TAO 4h0.0100%0.0096%0.0100%0.0100%0.4%$49.9M
BNB-0.0068%-0.0120%0.0000%0.0000%13.1%$46.0M
MON 4h0.0019%0.0096%0.0087%-0.0146%8.5%$37.4M
ONDO 4h0.0100%0.0024%0.0100%0.0100%8.3%$37.2M

Highest funding now

  • STRK 0.0335% longs pay 36.7% APR
  • BTC 0.0100% longs pay 10.9% APR
  • HYPE 0.0100% longs pay 10.9% APR
  • ZEC 0.0100% longs pay 10.9% APR
  • NEAR 0.0100% longs pay 10.9% APR

Most negative funding now

  • TIA -0.0188% shorts paid 20.5% APR
  • BNB -0.0068% shorts paid 7.4% APR
  • ENA -0.0025% shorts paid 2.8% APR
  • AVAX 0.0013% longs pay 1.5% APR
  • MON 0.0019% longs pay 2.0% APR

Widest DEX funding gaps

  • CASHCAT 251.8% long Hyperliquid 0.0100% · short Lighter 0.2400%
  • LINK 34.6% long Lighter -0.0216% · short Aster 0.0100%
  • TIA 29.3% long Hyperliquid -0.0188% · short Lighter 0.0080%
  • STRK 26.2% long Lighter 0.0096% · short Hyperliquid 0.0335%
  • AVAX 17.1% long Lighter -0.0056% · short Aster 0.0100%

Full funding arbitrage table and the caveats that go with it.

Sections

What is on this site

01
Funding rates by token
Every perp on Hyperliquid or Lighter, with Aster and Binance alongside. 50 detail pages with 7-day history, cost of holding and contract notes.
02
Funding arbitrage scanner
Where the same token has different funding on two DEXs, what the gap is worth net of taker fees, and how long it must hold to break even.
03
Venue pages
Hyperliquid, Lighter and Aster: fee schedules, funding formulas, referral and builder programs, live totals.
04
Head-to-head comparisons
Hyperliquid vs Lighter, Hyperliquid vs Aster, Lighter vs Aster, on documented facts and live data.
05
Funding rate calculator
What a position pays or earns over a holding period at a given rate and interval. Prefilled from any token page.
06
Funding rates explained
Who pays whom, how each venue computes the rate, why the venues diverge.
07
DEX Funding Index
One OI-weighted number for what leveraged longs pay across Hyperliquid and Lighter, with hourly history.
08
Open data
The snapshot as JSON and the hourly archive as CSV, free under CC BY 4.0, no key.