SAND Funding Rate (Hyperliquid)
Live SAND funding on Hyperliquid: the hourly rate Hyperliquid pays, the same as an 8-hour equivalent and APR, the predicted next payment, open interest and the mark-vs-oracle premium, next to Binance and Bybit funding for the same coin, with funding and OI history below.
SAND pays -0.26325% per hour on Hyperliquid (-2.1060% per 8 hours, -2306.1% APR), so shorts pay longs; that is below the 0.00125%/h baseline a balanced market pays. Hyperliquid funding is 570.9% APR lower than on Binance (-1735.2% APR) and 1944.7% APR lower than on Bybit (-361.4% APR). Open interest is $789K, #111 of 178 Hyperliquid perps and 0.0% of native perp OI; it has risen 169.53% in 24 hours. The mark price is 244.5 bps below the oracle; the premium pulls funding down.
SAND funding: Hyperliquid vs Binance & Bybit
Funding arbitrage →| Exchange | Interval | Per interval | 8h equiv. | APR | HL − exchange | Next payment |
|---|---|---|---|---|---|---|
| Hyperliquid | 1h | -0.26325% | -2.1060% | -2306.1% | — | 40m |
| Binance SANDUSDT | 8h | -1.5847% | -1.5847% | -1735.2% | -570.9% | 5h 40m |
| Bybit SANDUSDT | 8h | -0.3300% | -0.3300% | -361.4% | -1944.7% | 40m |
Hyperliquid charges every hour and most Binance and Bybit perps every 8 hours, so the gap is compared as 8-hour equivalents and APR. Hyperliquid's rate is the one it will charge at the next hour, updated live.
SAND open interest & limits
All markets →| Open interest | $789K (13,048,035 SAND) |
|---|---|
| Change 1h / 24h | +9.22% / +169.53% |
| Share of native perp OI | 0.0% (#111 of 178) |
| OI cap | — |
| OI cap use | — |
| Max leverage | 5x |
| 24h volume | $3.39M |
Hyperliquid publishes a per-market OI cap only for HIP-3 markets, so native perps show "—" for the cap.
SAND premium
mark vs oracle| Mark price | 0.06044 |
|---|---|
| Oracle price | 0.06196 |
| Mark vs oracle | -244.5 bps |
| Impact premium | -226.3 bps |
| Funding vs baseline | -2317.0% APR |
A balanced market pays the 0.00125% per hour interest baseline; a positive premium adds to it.
SAND funding history
8h equivalent · Hyperliquid vs Binance & BybitNot recorded Chart: TradingView Lightweight Charts™
SAND open interest on Hyperliquid
USDNot recorded Chart: TradingView Lightweight Charts™
More on SAND on Hyperliquid
SAND Hyperliquid funding FAQ
What is the SAND funding rate on Hyperliquid?
Hyperliquid charges funding every hour, on the hour. The hourly rate is the perp's average premium over its oracle price during the hour plus an interest part of 0.01% per 8 hours, capped at 4% per hour. Positive funding means longs pay shorts. To compare with an exchange that pays every 8 hours, multiply the hourly rate by 8; APR is the hourly rate x 24 x 365. Right now SAND pays -0.26325% per hour, which is -2.1060% per 8 hours or -2306.1% APR.
How does SAND funding on Hyperliquid compare with Binance and Bybit?
Binance and Bybit usually pay every 8 hours (some perps every 4 hours or hourly) and Hyperliquid every hour, so this page compares them as 8-hour equivalents and APR. A positive gap means longs pay more on Hyperliquid. Right now Hyperliquid SAND funding is 570.9% APR lower than on Binance (-1735.2% APR) and 1944.7% APR lower than on Bybit (-361.4% APR). Holding the opposite position on each exchange to collect the gap is funding arbitrage; it isn't risk-free, since rates change every interval and each leg can be liquidated on its own.
Is there an open interest cap on SAND?
Hyperliquid limits open interest on every market, but it publishes a per-market cap only for HIP-3 markets, set by their deployers. For native perps like this one the page shows "—" for the cap. When a market hits its limit, trades that would add to open interest are refused until it falls; closing trades still work. SAND open interest on Hyperliquid is $789K right now. SAND trades with up to 5x leverage.
What is the mark-vs-oracle premium?
The oracle price is a weighted median of spot prices on major exchanges, published by Hyperliquid's validators. The mark price is what the perp trades at. When the perp trades above the oracle, the premium is positive and pushes the next funding payment up; below the oracle it pulls funding down. Right now the SAND mark is -244.5 bps from the oracle.
Where does the funding history come from?
For the 30 or so largest Hyperliquid coins by open interest, the funding chart starts with Hyperliquid's own record of every settled payment, back to May 2023 or the coin's listing if later (pick Max on the chart). After that, and for every other coin, it is this site's recording of every Hyperliquid market from Hyperliquid's public API every 5 minutes, kept as hourly averages. The open interest chart is this site's recording only. The charts show funding as an 8-hour equivalent, the same scale as Binance and Bybit, so the lines can be compared directly. Nothing here is financial advice.