Earn
Everything you hold earns what longs pay shorts, every hour. Nothing to deposit into, nothing to switch on.
About $2.56 a day. At the last 30 days' rate for an account this size, before about $23 in fees going in and out. Funding moves, so real earnings will differ.
Where the rate comes from
What HYPE shorts were paid over the last 30 days, as a yearly rate. Longs pay shorts every hour.
Of each dollar holds HYPE and shorts the same amount. The two cancel out, so it keeps its dollar value.
On the other 23.8%, kept beside the short in USDC: enough for HYPE to rise 25% with the app closed.
What a dollar earns under $10,000, before fees. Over it, less waits beside the short: 11.45%.
Hourly HYPE funding payments.
of them paid shorts.
Shorts get paid most days
Hyperliquid builds an interest rate of 0.01% every 8 hours, about 11% a year, into funding, so longs pay shorts most of the time. On the days it turns, the short pays.
Paid to the short on the hour, on Hyperliquid's own clock. Nothing to claim, nothing to lock.
On Crest, in the funding trade.
Left sitting in a normal account.
Crest moves it
The agent key in your browser puts everything into the funding trade as it lands, and takes back what a trade or a withdrawal needs. Under $25 waits in Hyperliquid's lending pool. It can trade, but never withdraw.
The HYPE backs the short
On Hyperliquid's portfolio margin, the HYPE itself counts toward the short, so only 10% waits beside it in USDC and a dollar earns 11.45%. One signature, with no positions open.
Still earning
A trade takes its margin out of the funding trade, and nothing is borrowed. While it's open, the Crest pool pays you the same rate on that margin, from what its own money earns in the same trade.
One currency
You deposit USDC, withdraw USDC, and your balance is in dollars. The HYPE inside the funding trade is hedged, so its price never moves your balance.