Funding Rates › Briefing › 2026-10-26
Perp Funding Briefing — 2026-10-26 (UTC)
The widest liquid gap to the cross-venue median was Hyperliquid (xyz) on ORU: -0.7116% per 8h against a median of 0.0000% (-71.16 bps). 156 liquid venue rates moved by 3 bps or more per 8h since 2026-10-25; the largest was Bybit on BABY, 0.0100% to -0.9509% (-96.09 bps). No new HIP-3 markets since 2026-10-25; 4 dexes and 164 markets are listed. The largest reported open interest was BTC on Bybit, $4.92B.
Built from the snapshot of , the first cron run of the UTC day. All text is generated from stored numbers with fixed templates. Material-change score 25 (threshold 12): 0 new HIP-3 markets, 0 new dexes, 156 movers, 10 changes in the top-10 deviations, 5 in the top-10 open interest. Each part counts at most 10. Method.
1. Funding deviations
The 10 largest gaps between a venue's 8h funding rate and the coin's cross-venue median, liquid legs only ($1M open interest screen, same as the deviation page). 925 legs were ranked.
| # | Coin | Venue | Venue 8h | Median 8h | Deviation | Venues |
|---|---|---|---|---|---|---|
| 1 | ORU | Hyperliquid (xyz) | -0.7116% | 0.0000% | -71.16 bps | 6 |
| 2 | SOXL | Hyperliquid (xyz) | -0.6152% | -0.0178% | -59.74 bps | 6 |
| 3 | ORU | Bybit | -0.5250% | 0.0000% | -52.50 bps | 6 |
| 4 | CRWV | Hyperliquid (xyz) | -0.5111% | -0.0156% | -49.55 bps | 6 |
| 5 | CRWV | Bybit | -0.4767% | -0.0156% | -46.11 bps | 6 |
| 6 | MRNA | Hyperliquid (xyz) | 0.5960% | 0.1860% | +41.00 bps | 6 |
| 7 | HOOD | Hyperliquid (xyz) | -0.3002% | -0.0112% | -28.90 bps | 6 |
| 8 | CBRS | Hyperliquid (xyz) | -0.2908% | -0.0058% | -28.50 bps | 6 |
| 9 | SOXL | Bybit | -0.3000% | -0.0178% | -28.22 bps | 6 |
| 10 | NBIS | Hyperliquid (xyz) | -0.2927% | -0.0320% | -26.07 bps | 6 |
2. Movers
Largest change in 8h funding per liquid coin and venue against the previous UTC day's stored digest. 972 legs compared; 156 moved by 3 bps or more.
| Coin | Venue | 8h on 2026-10-25 | 8h now | Change |
|---|---|---|---|---|
| BABY | Bybit | 0.0100% | -0.9509% | -96.09 bps |
| EWZ | Hyperliquid (xyz) | 0.0244% | -0.8230% | -84.74 bps |
| SOFTBANK | Hyperliquid (xyz) | -0.1642% | 0.5864% | +75.05 bps |
| ORU | Hyperliquid (xyz) | 0.0131% | -0.7116% | -72.47 bps |
| PURRDAT | Hyperliquid (xyz) | 0.3874% | -0.3170% | -70.45 bps |
| BMNR | Hyperliquid (xyz) | 0.1558% | -0.4874% | -64.32 bps |
| MRNA | Hyperliquid (xyz) | -0.0173% | 0.5960% | +61.33 bps |
| SOXL | Hyperliquid (xyz) | -0.0070% | -0.6152% | -60.82 bps |
| IREN | Hyperliquid (xyz) | 0.0208% | -0.5430% | -56.38 bps |
| CRWV | Hyperliquid (xyz) | 0.0050% | -0.5111% | -51.61 bps |
3. Open interest leaders
Only venues that report open interest are ranked: Bybit, Hyperliquid, Hyperliquid (mkts), Hyperliquid (xyz), dYdX. Venues that report none are absent from this table.
| # | Coin | Venue | Open interest | Previous day | Change |
|---|---|---|---|---|---|
| 1 | BTC | Bybit | $4.92B | — | — |
| 2 | BTC | Hyperliquid | $3.40B | $3.45B | -1.4% |
| 3 | ETH | Hyperliquid | $2.58B | $2.61B | -1.4% |
| 4 | ETH | Bybit | $1.76B | — | — |
| 5 | HYPE | Hyperliquid | $1.59B | $1.62B | -1.9% |
| 6 | SOL | Bybit | $601.2M | — | — |
| 7 | SOL | Hyperliquid | $560.8M | $564.4M | -0.6% |
| 8 | ZEC | Hyperliquid | $560.0M | $552.4M | +1.4% |
| 9 | SP500 | Hyperliquid (xyz) | $381.6M | — | — |
| 10 | GOLD | Hyperliquid (xyz) | $329.3M | — | — |
4. New HIP-3 markets
No market was added since 2026-10-25. 4 dexes and 164 markets are listed.