Entropy Funding Rates

What is a funding rate? A funding rate is a periodic payment exchanged between long and short perpetual traders that keeps a perp's price tethered to its reference price. Hyperliquid settles funding hourly rather than every eight hours, so the rates below are hourly. A positive rate means longs pay shorts; a negative rate means shorts pay longs. Entropy's own two markets scale funding differently from the Hyperliquid default: the pre-IPO contract io:ANTH uses a funding multiplier of 0.00125, which Entropy's docs describe as roughly one eighth of the Hyperliquid default, while the equity contract io:SNDK uses 0.5 during the cash session and 0.125 outside it. Funding is paid between traders, not to the venue: Entropy's docs state that the exchange takes no fee on funding payments. What a position costs beyond funding is broken down in our Entropy fee guide.