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HYPEperpetual futures
Funding is the periodic payment exchanged between long and short perpetual positions. A high 90-day percentile means funding for HYPE is elevated versus its own recent norm — often a sign of crowded longs and a higher chance of a long squeeze.
Funding history
Jade above the zero line: longs pay shorts. Clay below: shorts pay longs.
HYPE across exchanges
| Exchange | Funding APR | Open interest | OI share |
|---|---|---|---|
B Bybit | -5.44% | $252.73M | 47% |
B Bitget | -1.15% | $177.94M | 33% |
O OKX | -11.53% | $111.98M | 21% |
Funding annualized per venue interval; open interest is the latest reading per exchange.
Interpretation
HYPE's derivatives market shows modest long positioning with room for expansion. The aggregated funding rate stands at 2.42%, indicating longs are paying shorts, though the funding percentile of 38 reveals this is below the coin's typical 90-day range—suggesting current crowding is relatively restrained by recent standards. Open interest totals $959.0M, a sizable base that has grown sharply: +4.9% over the last 24 hours and +31.7% over the past week, pointing to consistent leverage accumulation.
The liquidation data tilts toward short liquidations, with an imbalance of -0.41 over 24 hours, indicating sellers have faced more pressure than buyers. This aligns with the recent open interest surge, though the leverage risk score of 15 suggests the overall positioning remains structurally sound relative to historical baselines. The combination of rising open interest, subdued funding rates relative to recent history, and a low risk score indicates HYPE's futures market is building exposure without exhibiting the stretched conditions typical of crowded leverage regimes.
FAQ
What is the funding rate for HYPE right now?
As of the latest reading, HYPE aggregated funding is +1.03% annualized, at the 36th percentile of its own last 90 days. Funding is a recurring payment between long and short HYPE perpetual holders that keeps the contract price anchored to spot: positive means longs pay shorts, negative means shorts pay longs.
What does a high funding percentile mean?
It means current HYPE funding is high versus its own last 90 days — usually a sign of crowded long positioning, which can precede a long squeeze if price turns.
How is aggregated funding calculated?
Each exchange's rate is annualized (accounting for 4h vs 8h intervals), then averaged weighted by open interest across Binance, Bybit, OKX and Bitget. See the methodology page for the exact formula.
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Exactly how each number is computed.