Funding Rates › Briefing › Week 2026-W44
Perp Funding Briefing — Week 2026-W44 (UTC)
4 daily briefings from 2026-10-26 to 2026-11-01; 4 passed the publication threshold of 12 on their own. The compared days add up to a material-change score of 91.
Days below the threshold are not published as their own pages; they are listed here. Method.
Days in this week
| Day (UTC) | Score | Page | Summary |
|---|---|---|---|
| 2026-10-26 | 25 | Own page | 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. |
| 2026-10-27 | 18 | Own page | The widest liquid gap to the cross-venue median was Lighter on CASHCAT: 0.4656% per 8h against a median of 0.0100% (+45.56 bps). 233 liquid venue rates moved by 3 bps or more per 8h since 2026-10-26; the largest was Bybit on IRYS, -2.5755% to 0.0100% (+258.55 bps). 1 HIP-3 markets are new since 2026-10-26; 4 dexes and 165 markets are listed now. The largest reported open interest was BTC on Bybit, $4.97B. |
| 2026-10-28 | 26 | Own page | The widest liquid gap to the cross-venue median was Aster on CASHCAT: 0.2175% per 8h against a median of 0.0328% (+18.47 bps). 74 liquid venue rates moved by 3 bps or more per 8h since 2026-10-27; the largest was Hyperliquid (xyz) on SKHX, 0.7931% to -0.0103% (-80.34 bps). 4 HIP-3 markets are new since 2026-10-27; 4 dexes and 169 markets are listed now. The largest reported open interest was BTC on Hyperliquid, $3.54B. |
| 2026-10-29 | 22 | Own page | The widest liquid gap to the cross-venue median was Bybit on BLUR: 0.0100% per 8h against a median of -0.9471% (+95.71 bps). 131 liquid venue rates moved by 3 bps or more per 8h since 2026-10-28; the largest was Binance on BLUR, -0.0267% to -0.9902% (-96.35 bps). No new HIP-3 markets since 2026-10-28; 4 dexes and 169 markets are listed. The largest reported open interest was BTC on Bybit, $5.03B. |
2026-10-26
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.
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.
2026-10-27
The widest liquid gap to the cross-venue median was Lighter on CASHCAT: 0.4656% per 8h against a median of 0.0100% (+45.56 bps). 233 liquid venue rates moved by 3 bps or more per 8h since 2026-10-26; the largest was Bybit on IRYS, -2.5755% to 0.0100% (+258.55 bps). 1 HIP-3 markets are new since 2026-10-26; 4 dexes and 165 markets are listed now. The largest reported open interest was BTC on Bybit, $4.97B.
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). 924 legs were ranked.
| # | Coin | Venue | Venue 8h | Median 8h | Deviation | Venues |
|---|---|---|---|---|---|---|
| 1 | CASHCAT | Lighter | 0.4656% | 0.0100% | +45.56 bps | 6 |
| 2 | CASHCAT | Aster | 0.3410% | 0.0100% | +33.10 bps | 6 |
| 3 | ORU | Hyperliquid (xyz) | 0.2049% | 0.0086% | +19.62 bps | 6 |
| 4 | SKHY | Hyperliquid (xyz) | 0.1743% | 0.0016% | +17.27 bps | 6 |
| 5 | CXMT | Hyperliquid (xyz) | 0.1737% | 0.0032% | +17.05 bps | 5 |
| 6 | SOXL | Hyperliquid (xyz) | 0.1679% | 0.0104% | +15.75 bps | 6 |
| 7 | DELL | Hyperliquid (xyz) | 0.1196% | 0.0016% | +11.80 bps | 6 |
| 8 | CRWV | Hyperliquid (xyz) | 0.1133% | 0.0016% | +11.17 bps | 6 |
| 9 | QCOM | Hyperliquid (xyz) | 0.1109% | 0.0016% | +10.93 bps | 6 |
| 10 | ZHIPU | Hyperliquid (xyz) | 0.1088% | 0.0000% | +10.88 bps | 5 |
2. Movers
Largest change in 8h funding per liquid coin and venue against the previous UTC day's stored digest. 1211 legs compared; 233 moved by 3 bps or more.
| Coin | Venue | 8h on 2026-10-26 | 8h now | Change |
|---|---|---|---|---|
| IRYS | Bybit | -2.5755% | 0.0100% | +258.55 bps |
| TREE | Bybit | -1.7912% | 0.0100% | +180.12 bps |
| IOST | Bybit | -1.5833% | 0.0100% | +159.33 bps |
| BMT | Bybit | -1.1499% | 0.0100% | +115.99 bps |
| BABY | Bybit | -0.9509% | 0.0100% | +96.09 bps |
| ORU | Hyperliquid (xyz) | -0.7116% | 0.2049% | +91.65 bps |
| ORDER | Bybit | -0.9030% | 0.0100% | +91.30 bps |
| EWZ | Hyperliquid (xyz) | -0.8230% | 0.0050% | +82.80 bps |
| SOXL | Hyperliquid (xyz) | -0.6152% | 0.1679% | +78.31 bps |
| SKHX | Hyperliquid (xyz) | 0.0444% | 0.7931% | +74.87 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 | $4.97B | $4.92B | +1.1% |
| 2 | BTC | Hyperliquid | $3.40B | $3.40B | +0.0% |
| 3 | ETH | Hyperliquid | $2.61B | $2.58B | +1.1% |
| 4 | ETH | Bybit | $1.80B | $1.76B | +1.9% |
| 5 | HYPE | Hyperliquid | $1.61B | $1.59B | +1.0% |
| 6 | ZEC | Hyperliquid | $602.6M | $560.0M | +7.6% |
| 7 | SOL | Bybit | $596.0M | $601.2M | -0.9% |
| 8 | SOL | Hyperliquid | $560.2M | $560.8M | -0.1% |
| 9 | SP500 | Hyperliquid (xyz) | $397.9M | $381.6M | +4.3% |
| 10 | GOLD | Hyperliquid (xyz) | $328.1M | $329.3M | -0.4% |
4. New HIP-3 markets
1 markets are new since 2026-10-26. 4 dexes and 165 markets are listed.
| Dex | Market |
|---|---|
| xyz | xyz:ANT |
2026-10-28
The widest liquid gap to the cross-venue median was Aster on CASHCAT: 0.2175% per 8h against a median of 0.0328% (+18.47 bps). 74 liquid venue rates moved by 3 bps or more per 8h since 2026-10-27; the largest was Hyperliquid (xyz) on SKHX, 0.7931% to -0.0103% (-80.34 bps). 4 HIP-3 markets are new since 2026-10-27; 4 dexes and 169 markets are listed now. The largest reported open interest was BTC on Hyperliquid, $3.54B.
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). 648 legs were ranked.
| # | Coin | Venue | Venue 8h | Median 8h | Deviation | Venues |
|---|---|---|---|---|---|---|
| 1 | CASHCAT | Aster | 0.2175% | 0.0328% | +18.47 bps | 6 |
| 2 | DRAM | Hyperliquid (xyz) | -0.1482% | 0.0112% | -15.94 bps | 6 |
| 3 | AZTEC | Lighter | -0.0808% | 0.0100% | -9.08 bps | 6 |
| 4 | CRCL | Lighter | -0.0800% | 0.0065% | -8.65 bps | 6 |
| 5 | CHIP | Hyperliquid | 0.0940% | 0.0100% | +8.40 bps | 6 |
| 6 | CRCL | edgeX | 0.0870% | 0.0065% | +8.06 bps | 6 |
| 7 | INTC | edgeX | -0.0686% | 0.0000% | -6.86 bps | 6 |
| 8 | FIL | Lighter | -0.0504% | 0.0100% | -6.04 bps | 7 |
| 9 | BERA | Hyperliquid | -0.0660% | -0.0057% | -6.03 bps | 6 |
| 10 | MET | Lighter | -0.0528% | 0.0026% | -5.54 bps | 7 |
2. Movers
Largest change in 8h funding per liquid coin and venue against the previous UTC day's stored digest. 760 legs compared; 74 moved by 3 bps or more.
| Coin | Venue | 8h on 2026-10-27 | 8h now | Change |
|---|---|---|---|---|
| SKHX | Hyperliquid (xyz) | 0.7931% | -0.0103% | -80.34 bps |
| ORU | Hyperliquid (xyz) | 0.2049% | -0.2573% | -46.21 bps |
| SNXX | Hyperliquid (xyz) | 0.1695% | -0.2259% | -39.54 bps |
| SKHY | Hyperliquid (xyz) | 0.1743% | -0.2102% | -38.45 bps |
| CASHCAT | Lighter | 0.4656% | 0.0816% | -38.40 bps |
| SOXL | Hyperliquid (xyz) | 0.1679% | -0.2028% | -37.07 bps |
| HYUNDAI | Hyperliquid (xyz) | 0.1762% | -0.1704% | -34.65 bps |
| SOFTBANK | Hyperliquid (xyz) | -0.0960% | -0.4225% | -32.65 bps |
| DRAM | Hyperliquid (xyz) | 0.1133% | -0.1482% | -26.15 bps |
| ALT | Hyperliquid | -0.3651% | -0.1304% | +23.47 bps |
3. Open interest leaders
Only venues that report open interest are ranked: Hyperliquid, Hyperliquid (mkts), Hyperliquid (xyz), dYdX. Venues that report none are absent from this table.
| # | Coin | Venue | Open interest | Previous day | Change |
|---|---|---|---|---|---|
| 1 | BTC | Hyperliquid | $3.54B | $3.40B | +4.1% |
| 2 | ETH | Hyperliquid | $2.65B | $2.61B | +1.7% |
| 3 | HYPE | Hyperliquid | $1.68B | $1.61B | +4.5% |
| 4 | ZEC | Hyperliquid | $694.0M | $602.6M | +15.2% |
| 5 | SOL | Hyperliquid | $565.6M | $560.2M | +1.0% |
| 6 | SP500 | Hyperliquid (xyz) | $414.6M | $397.9M | +4.2% |
| 7 | GOLD | Hyperliquid (xyz) | $328.0M | $328.1M | -0.0% |
| 8 | SKHX | Hyperliquid (xyz) | $311.8M | $327.5M | -4.8% |
| 9 | NASDAQ100 | Hyperliquid (xyz) | $288.0M | $288.6M | -0.2% |
| 10 | NEAR | Hyperliquid | $273.1M | $262.7M | +4.0% |
4. New HIP-3 markets
4 markets are new since 2026-10-27. 4 dexes and 169 markets are listed.
| Dex | Market |
|---|---|
| io | io:NVDA |
| para | para:ANTH |
| xyz | xyz:NIFTY |
| xyz | xyz:RELIANCE |
2026-10-29
The widest liquid gap to the cross-venue median was Bybit on BLUR: 0.0100% per 8h against a median of -0.9471% (+95.71 bps). 131 liquid venue rates moved by 3 bps or more per 8h since 2026-10-28; the largest was Binance on BLUR, -0.0267% to -0.9902% (-96.35 bps). No new HIP-3 markets since 2026-10-28; 4 dexes and 169 markets are listed. The largest reported open interest was BTC on Bybit, $5.03B.
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). 919 legs were ranked.
| # | Coin | Venue | Venue 8h | Median 8h | Deviation | Venues |
|---|---|---|---|---|---|---|
| 1 | BLUR | Bybit | 0.0100% | -0.9471% | +95.71 bps | 4 |
| 2 | CASHCAT | Aster | -0.2631% | 0.0100% | -27.31 bps | 6 |
| 3 | MRVL | Hyperliquid (xyz) | 0.2718% | 0.0053% | +26.66 bps | 6 |
| 4 | UNITREE | OKX | -0.2586% | -0.0188% | -23.98 bps | 6 |
| 5 | GOOGL | Hyperliquid (xyz) | 0.2011% | 0.0536% | +14.75 bps | 7 |
| 6 | UNITREE | Hyperliquid (xyz) | -0.1403% | -0.0188% | -12.15 bps | 6 |
| 7 | DELL | Lighter | -0.1192% | 0.0000% | -11.92 bps | 6 |
| 8 | CBRS | Hyperliquid (xyz) | 0.1134% | 0.0000% | +11.34 bps | 6 |
| 9 | UNITREE | edgeX | 0.0929% | -0.0188% | +11.17 bps | 6 |
| 10 | CASHCAT | Lighter | -0.0992% | 0.0100% | -10.92 bps | 6 |
2. Movers
Largest change in 8h funding per liquid coin and venue against the previous UTC day's stored digest. 1009 legs compared; 131 moved by 3 bps or more.
| Coin | Venue | 8h on 2026-10-28 | 8h now | Change |
|---|---|---|---|---|
| BLUR | Binance | -0.0267% | -0.9902% | -96.35 bps |
| BLUR | OKX | -0.0639% | -1.0139% | -95.00 bps |
| BLUR | Aster | 0.0100% | -0.9041% | -91.41 bps |
| CASHCAT | Aster | 0.2175% | -0.2631% | -48.06 bps |
| MRVL | Hyperliquid (xyz) | -0.0887% | 0.2718% | +36.05 bps |
| SNXX | Hyperliquid (xyz) | -0.2259% | 0.0883% | +31.42 bps |
| SOFTBANK | Hyperliquid (xyz) | -0.4225% | -0.1306% | +29.19 bps |
| ORU | Hyperliquid (xyz) | -0.2573% | 0.0209% | +27.81 bps |
| SOXL | Hyperliquid (xyz) | -0.2028% | 0.0674% | +27.01 bps |
| SMSN | Hyperliquid (xyz) | 0.2113% | -0.0365% | -24.78 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 | $5.03B | — | — |
| 2 | BTC | Hyperliquid | $3.56B | $3.54B | +0.6% |
| 3 | ETH | Hyperliquid | $2.62B | $2.65B | -1.0% |
| 4 | ETH | Bybit | $1.82B | — | — |
| 5 | HYPE | Hyperliquid | $1.65B | $1.68B | -1.5% |
| 6 | ZEC | Hyperliquid | $711.2M | $694.0M | +2.5% |
| 7 | SOL | Bybit | $614.0M | — | — |
| 8 | SOL | Hyperliquid | $581.4M | $565.6M | +2.8% |
| 9 | SP500 | Hyperliquid (xyz) | $400.9M | $414.6M | -3.3% |
| 10 | SKHX | Hyperliquid (xyz) | $322.5M | $311.8M | +3.4% |
4. New HIP-3 markets
No market was added since 2026-10-28. 4 dexes and 169 markets are listed.