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SOPH — funding rate on Hyperliquid
Hyperliquid · SOPH+0.001%per 1h · +0.001%/hshorts receive
last settlement-0.002%→upcoming payout+0.001%• unchanged
10:38settlement
0calmheat
Price (mark)
0.001229
-1.2% 24h
Vol 24h
$1.5M
Open interest
$407K
Price move in 2 min
—
avg 7d
-0.003%/h
avg 30d
-0.007%/h
Price and skew
Event life curvePRO · open for now
Across 7 closed events of this pair: a typical one lives 1h 37m, the peak usually lands at minute 10–15
median across 7 eventsmedian peak minute
at later minutes only long-livers remain in the sample — the curve is conditional, not «acceleration»
How they ended: funding covered the adverse price move in 3 of 7 cases
median — 0.20% accrued against a 1.28% move
Entry economics
Position calculator
- Position size
- $1,500
- Funding per settlement (1h)
- $0.02 · $0.02/hour
- Net snipe per settlement
- $-2.38 = 0.001% − 0.110% − 0.050%
- Break-even for entry
- rate covers the threshold 0.01×needs 0.160%+ per settlement
- Liquidation price
- 0.001633 (+32.83% from price)
- Risk at this leverage
- no volatility data
- Max “green” leverage
- —
Funding goes to whoever holds the position at the cut-off. MMR in the liquidation formula is +0.50%; verify the price on the exchange before trading.
Settlement window · facts (19)
before cut-off · 5m · the snipe window (19)
avg+1.29% | -0.67%
max+3.57%
after · 5m
avg+1.83% | -3.04%
max-6.87%
before cut-off · 15m
avg+3.17% | -2.42%
max+11.32%
after · 15m
avg+1.46% | -5.73%
max-14.74%
| Cut-off | Rate | Before | After |
|---|---|---|---|
| 31.10 06:00 | -0.033% | -1.26% | +1.15% |
| 30.10 23:00 | -0.077% | -1.81% | +2.49% |
| 30.10 21:00 | -0.075% | -0.24% | +0.39% |
| 30.10 20:00 | -0.123% | -0.23% | +0.55% |
| 30.10 19:00 | -0.122% | +0.82% | +3.65% |
Settlement profilePRO · open for now
How this pair's price behaves around the payout — averaged over 19 settlements
average across settlementsspread: worst … best outcome
Context and comparison
Funding history · 750 settlements
SOPH on 5 exchanges
| Exchange | Rate | Per hour | Receives | Snipe |
|---|---|---|---|---|
| Binance | -0.093% / 4h | -0.023%/h | longs | -0.067% |
| OKX | -0.087% / 4h | -0.022%/h | longs | -0.073% |
| Bybit | -0.077% / 4h | -0.019%/h | longs | -0.083% |
| Bitget | -0.075% / 4h | -0.019%/h | longs | -0.085% |
| Hyperliquid ← you are here | +0.001% / 1h | +0.001%/h | shorts | -0.159% |
Binance-0.023%/h
longsrate -0.093% / 4hsnipe -0.067%
OKX-0.022%/h
longsrate -0.087% / 4hsnipe -0.073%
Bybit-0.019%/h
longsrate -0.077% / 4hsnipe -0.083%
Bitget-0.019%/h
longsrate -0.075% / 4hsnipe -0.085%
Hyperliquid← you are here+0.001%/h
shortsrate +0.001% / 1hsnipe -0.159%
Max spread across exchanges: +0.024%/h
SOPH across all exchanges: comparison & curves →Rates across exchangesPRO · open for now
5 exchanges on one timeline
Bitgetevery 4hBybitevery 4hHyperliquidevery 1hOKXevery 4hBinanceevery 4hrate corridor between exchanges
exchanges settle at different frequencies — an 8-hour step is bound to «lag» a 1-hour one, that's its grid, not a slower market
spread typically
0.0060%/h
widest spread
0.0602%/h
09.11 01:00 UTC · Bitget ↔ Hyperliquid
the spread is the hedge's rate before fees: that's what an hour of the pair-trade yields
How to read this
- Snipe: enter short before the cut-off, exit after settlement. Funding goes to whoever holds the position at the cut-off. The net capture in the calculator is already net of fees and slippage — and it does not include price moving against you in the settlement window (see volatility above).
- Hedged: a short here + an opposite position of the same size on another exchange or spot — funding capture without price risk, but four legs of fees.
- Extreme funding is a crowd story: price often runs into the cut-off and reverses after. This is data for a decision, not a recommendation.