Hourly funding

Funding charges and credits#

Funding uses Hyperliquid’s hourly rates and affects simulated cash and account risk. It is separate from the fee charged when a trade fills.

Funding cash flow = − signed quantity × oracle price × hourly rate

Long quantity is positive and short quantity is negative. With a positive rate, a long pays and a short receives. With a negative rate, the direction reverses.

Which positions are charged?#

Funding applies to the position held at the UTC hour boundary. Unfilled orders do not create a funding charge. Closing a position afterward does not remove funding owed for that boundary.

The price used for funding#

The charge uses the recorded oracle sample near the hour boundary, rather than the chart’s last-trade price. Review Funding history for the rate and cash flow.

If required funding data is unavailable, new exposure may wait until it can be resolved. Reduce-only closes remain available.

Funding and the daily loss limit#

Midnight funding is applied before the 00:00 UTC opening balance is established. It therefore affects that day’s starting balance and daily loss allowance.