Question 1

What is a tỷ lệ tài trợ in hợp đồng vĩnh viễn?

Accepted Answer

A tỷ lệ tài trợ is a periodic payment exchanged between long and short traders in hợp đồng vĩnh viễn markets. Unlike traditional futures contracts that have expiry dates, hợp đồng vĩnh viễn use tỷ lệ tài trợ to keep the contract price anchored to the giá giao ngay. When the perpetual price is above spot (bullish market), the tỷ lệ tài trợ is positive and longs pay shorts. When the perpetual price is below spot (bearish market), the tỷ lệ tài trợ is negative and shorts pay longs. Funding payments are typically exchanged every 8 hours.

Question 2

How often are tỷ lệ tài trợ charged on Hyperliquid?

Accepted Answer

On Hyperliquid, tỷ lệ tài trợ are settled every 8 hours, which means there are 3 funding periods per day. The tỷ lệ tài trợ displayed is the rate per 8-hour period. Your funding payment for each period equals your kích thước vị thế multiplied by the tỷ lệ tài trợ. The rate can change each period based on điều kiện thị trường, so the actual cost of holding a vị thế over days or weeks can vary from the estimate provided by this calculator, which assumes a constant rate.

Question 3

When does the tỷ lệ tài trợ help or hurt my vị thế?

Accepted Answer

For vị thế long: a positive tỷ lệ tài trợ means you pay funding (it costs you money), while a negative tỷ lệ tài trợ means you receive funding (you earn money). For vị thế short, it is reversed: a positive tỷ lệ tài trợ means you receive funding, and a negative tỷ lệ tài trợ means you pay. In bullish markets, funding tends to be positive (costly for longs), and in bearish markets, funding tends to be negative (costly for shorts). Some traders actively seek to trade on the side that receives funding as part of their strategy.

Question 4

How do tỷ lệ tài trợ affect my overall trade lợi nhuận?

Accepted Answer

Funding rates can significantly impact the lợi nhuận of trades held for extended periods. For example, a 0.01% per 8h tỷ lệ tài trợ on a $100,000 vị thế costs $10 every 8 hours, or $30 per day, or roughly $900 per month. Over 30 days, this means the price would need to move at least 0.9% in your favor just to break even on chi phí tài trợ alone. This is why many traders factor in estimated chi phí tài trợ before entering vị thế, especially for swing trades and longer-term holds.

Question 5

What are some strategies to manage chi phí tài trợ?

Accepted Answer

Several strategies can help manage chi phí tài trợ: 1) Time your entries to enter on the funding-receiving side when possible. 2) Monitor tỷ lệ tài trợ trends and close vị thế before high funding periods. 3) Use tỷ lệ tài trợ arbitrage by going long on one exchange and short on another to capture the rate differential. 4) Consider shorter holding periods during high tỷ lệ tài trợ environments. 5) Factor chi phí tài trợ into your break-even analysis before entering a trade. 6) Use the tỷ lệ tài trợ calculator to understand the total cost before committing to a vị thế.

Question 6

What is a typical tỷ lệ tài trợ and how does it change?

Accepted Answer

The baseline or neutral tỷ lệ tài trợ on most exchanges is 0.01% per 8 hours (approximately 10.95% annualized). During calm markets, rates tend to hover near this level. In strongly bullish markets, funding can spike to 0.1% or higher per 8 hours (over 100% annualized), making it very expensive to hold vị thế long. In bearish markets, funding can go negative, making it costly for shorts. Extremely high or low tỷ lệ tài trợ often indicate crowded vị thếing and can signal potential reversals, as the cost of maintaining the popular trade becomes unsustainable.

Máy Tính Tỷ Lệ Tài Trợ

Thị Trường Tăng (Tỷ Lệ Dương)

Thị Trường Giảm (Tỷ Lệ Âm)

Công Cụ Giao Dịch Liên Quan

Cảnh Báo Rủi Ro