Crypto Funding Rates: Compare One-Hour and Eight-Hour Payments
One venue pays funding every hour, another every eight. Comparing the displayed rates without converting them is comparing different time periods.
Short answer
Funding rates must be compared over the same period. Hyperliquid pays funding hourly, each payment one-eighth of its computed 8-hour rate. Binance typically settles every 8 hours but some symbols have adjusted intervals, exposed through its fundingInfo endpoint (fundingIntervalHours). Convert every rate to a common basis, such as per 8 hours or annualised (rate × payments per year), before comparing venues or computing carry.
Converting to a common basis
| Venue/contract | Interval | Displayed rate | Per 8h | Annualised |
|---|---|---|---|---|
| Venue A | 8h | 0.010% | 0.010% | 10.95% |
| Venue B | 1h | 0.0013% | 0.010% | 11.39% |
| Venue C | 4h | 0.010% | 0.020% | 21.9% |
Illustrative. Annualised = rate × payments per year (8h: 1,095; 4h: 2,190; 1h: 8,760). Venue C's rate looks the same as A's but costs twice as much per day.
Visual
Funding cost of a position
Cost = position notional × rate × number of settlements held. Holding a $50,000 position for 3 days at 0.01% per 8h: 9 settlements × $5 = $45. At 0.01% per hour equivalent display without conversion, a trader might wrongly estimate $45 or $360.
Also note what price converts position size to notional: Hyperliquid states it uses the spot oracle price, not the mark price.
Comparing venues for the same asset
When the same asset's funding differs between venues after conversion, the difference shows where long or short demand is concentrated. A persistent gap can attract arbitrage that holds opposite positions on two venues, collecting the spread. Before reading the gap as sentiment, check that both contracts settle in the same currency and use comparable premium calculations.
Record funding with the venue, the interval and the conversion you applied. A note like '0.01% (8h-equivalent, venue A)' can be compared later; '0.01%' alone cannot.
Using it
Compare funding across supported venues for the same asset.
Open the ChartsPod terminalConvert funding to a common period before comparing venues or estimating carry.
Related: Funding Costs in Perpetual Backtests: Use Settlement Timestamps, Annualized Futures Premium: Calculate Carry After Fees and Funding, How to Switch Binance, Bybit, OKX and Hyperliquid Context in ChartsPod.
Put Crypto Funding Rates next to price, flow and positioning in one workspace.
Open a ChartsPod workspaceQuestions readers ask
How often does Hyperliquid pay funding?
Every hour, each payment one-eighth of the 8-hour rate, per its docs.
Are all Binance contracts 8-hour?
Many are; some have adjusted intervals listed in fundingInfo.
How do I annualise funding?
Multiply the per-period rate by the number of periods per year.
Sources and methodology
Derivatives definitions come from Binance's USD-M market data documentation, Hyperliquid's funding documentation, Bybit's liquidation rules and Deribit Insights, as read on 17 October 2026. ChartsPod features were checked on its public pages. Examples use illustrative numbers.
- Hyperliquid docs: Funding — hourly payments, 1/8 of the 8-hour rate, oracle price for notional.
- Binance: USD-M market data (long/short ratios, OI statistics, klines) — ratio definitions, 30-day retention, kline open/close time.
This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.
CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.