Why pooled funding changed
A pooled funding quote can change because venue quotes move, because their open-interest shares change, or both. Compare the two effects over four hours.
Four-hour change · fixed three-venue baskets
Each coin uses Binance USDT, Bybit USDT and native Hyperliquid perpetuals only. This fixed subset is not the site's whole funding index.
Start:
End:
Coverage: 3 / 3 coins comparable · 18 / 18 valid contract snapshots. Every coin needs all three contracts at both exact anchors.
Scroll tables horizontally to see all inputs and effects.
BTC · venue inputs and contributions
| Venue / native key | Start quote / 8h | End quote / 8h | Start OI | End OI | Start OI share | End OI share | Rate effect / 8h | Weight effect / 8h | Combined / 8h |
|---|---|---|---|---|---|---|---|---|---|
| Binance binance:perp:BTCUSDT |
0.0066% | 0.0033% | $7.52B | $7.50B | 64.0% | 63.8% | -0.2 bps | -0.0 bps | -0.2 bps |
| Bybit bybit:perp:BTCUSDT |
0.0068% | 0.0062% | $2.53B | $2.52B | 21.6% | 21.5% | -0.0 bps | -0.0 bps | -0.0 bps |
| Hyperliquid hyperliquid:perp:BTC |
0.0100% | 0.0011% | $1.70B | $1.73B | 14.5% | 14.7% | -0.1 bps | +0.0 bps | -0.1 bps |
Reconciliation (bps / 8h): rate -0.353504 + weight 0.000012 = -0.353492; end − start = -0.353492. Residual: 0.000000. Tables round to 0.1 bps; calculations use unrounded inputs.
ETH · venue inputs and contributions
| Venue / native key | Start quote / 8h | End quote / 8h | Start OI | End OI | Start OI share | End OI share | Rate effect / 8h | Weight effect / 8h | Combined / 8h |
|---|---|---|---|---|---|---|---|---|---|
| Binance binance:perp:ETHUSDT |
0.0053% | 0.0090% | $5.42B | $5.36B | 70.9% | 70.7% | +0.3 bps | -0.0 bps | +0.3 bps |
| Bybit bybit:perp:ETHUSDT |
0.0100% | 0.0081% | $921.81M | $910.03M | 12.1% | 12.0% | -0.0 bps | -0.0 bps | -0.0 bps |
| Hyperliquid hyperliquid:perp:ETH |
0.0100% | 0.0069% | $1.30B | $1.31B | 17.0% | 17.2% | -0.1 bps | +0.0 bps | -0.1 bps |
Reconciliation (bps / 8h): rate 0.183285 + weight 0.000156 = 0.183441; end − start = 0.183441. Residual: 0.000000. Tables round to 0.1 bps; calculations use unrounded inputs.
SOL · venue inputs and contributions
| Venue / native key | Start quote / 8h | End quote / 8h | Start OI | End OI | Start OI share | End OI share | Rate effect / 8h | Weight effect / 8h | Combined / 8h |
|---|---|---|---|---|---|---|---|---|---|
| Binance binance:perp:SOLUSDT |
0.0004% | 0.0095% | $873.74M | $869.97M | 59.7% | 59.8% | +0.5 bps | +0.0 bps | +0.5 bps |
| Bybit bybit:perp:SOLUSDT |
0.0075% | 0.0094% | $310.14M | $304.56M | 21.2% | 20.9% | +0.0 bps | -0.0 bps | +0.0 bps |
| Hyperliquid hyperliquid:perp:SOL |
0.0066% | 0.0100% | $280.84M | $281.14M | 19.2% | 19.3% | +0.1 bps | +0.0 bps | +0.1 bps |
Reconciliation (bps / 8h): rate 0.648769 + weight -0.000420 = 0.648349; end − start = 0.648349. Residual: 0.000000. Tables round to 0.1 bps; calculations use unrounded inputs.
Method. At each endpoint, wᵢ = OIᵢ / sum(OI) and F = sum(wᵢ × fᵢ). Rate effect = sum(((w₀ᵢ + w₁ᵢ) / 2) × (f₁ᵢ − f₀ᵢ)). Weight effect = sum(((f₀ᵢ + f₁ᵢ) / 2) × (w₁ᵢ − w₀ᵢ)). Their sum equals F₁ − F₀. Multiply each fraction by 10,000 for bps per 8 hours. One basis point is 0.01 percentage points. Quotes are already normalized to 8 hours.
The end anchor is the start of the last closed UTC five-minute bucket: floor(now / 5m) × 5m − 5m. The start is exactly four hours earlier. Only the nine named perpetual IDs and these two exact timestamps are read. No older rows, other quotes or alternative venues fill gaps. A finite funding quote and positive finite USD OI are required for every leg at both endpoints.
Snapshot times are recorded metadata times, not proof of original exchange field freshness. Quotes come from exchange public APIs through the existing recording service. They are indicative funding quotes, not settled payments or realized carry over these four hours.
Weight changes include USD valuation and composition changes; they do not demonstrate exchange cash movement, new positions or leverage. Opposing effects can each exceed the total change. No percentage attribution is shown for a near-zero delta. Results are cached for up to 120 seconds; failures and empty coverage retry after 30 seconds.