Funding is the carry component of every RWA perp trade. HyperBasis snapshots it every 10 minutes and turns it into analyzable statistics.
1. What is captured
Funding rate — the hourly rate Hyperliquid charges long vs short. HyperBasis annualizes it into an APR for comparability.
Open interest — total notional open on each instrument.
Mark price and 24h notional volume — captured in the same snapshot.
2. Snapshot cadence and history
Snapshots are written every 10 minutes for the full universe. History grows continuously; a 365-day historical backfill is in progress and the current depth is labeled honestly in the product.
3. Funding-alignment scoring
For arbitrage, the sign of funding matters as much as the size of the deviation. The leaderboard classifies each opportunity as funding-aligned (funding pays the trade direction) or funding-opposed (funding works against the trade), and the actionable view filters on alignment.
4. Percentile and z-score analysis
Current funding is compared against its own 30-day, 90-day and 1-year distribution: the STAT page reports the percentile and z-score, so "high funding" is always relative to that asset's own regime, never an absolute guess.
5. Honest limits
Same-day snapshots may be missing during upstream rate-limit windows; gaps are visible in the history, not silently interpolated.
Zero-volume instruments have funding history only for the periods the feed existed; otherwise N/A.
Honest-limitations policy. HyperBasis labels every data gap instead of hiding it. Where a source does not exist (e.g., zero-volume Hyperliquid instruments that never traded), the product shows N/A rather than fabricated values.