Hyperliquid funding extremes — 2026-07-10
alpha micro-digest
$LIT longs paying +82.5% apr on $135m oi. $ZRO +30.9% on $25.9m. $ZEC +12.4% on $246.7m. $BTC and $ETH both +11.0% on $2.41b and $1.40b respectively. shorts are collecting a premium on these names.
$TRUMP shorts paying -14.9% apr on $9.4m oi. $TRX -4.3% on $17.0m. $kBONK basically flat at +0.1% on $7.8m. the bottom of the short side is just $BTC and $ETH again at +11.0%, which is the same rate longs are paying. symmetrical funding on the majors.
cleanest carry trade right now is short $LIT perp, long $LIT spot. collect 82.5% apr. risk: the spot borrow rate spikes and eats the carry, or the mark price gaps against the spot leg and you get liquidated before the funding resets. both legs need to be sized for the worst case.
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#FundingArb #PerpFunding #Hyperliquid $HYPE
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