Technology
By Evie Vavasseur
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Funding Rates Hit Five Digits. Over one weekend, traders using 3x leverage paid hourly funding rates that peaked around 1.5%.
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Anthropic's $30 Billion Round Fueled the Frenzy. In February 2026, Anthropic closed a $30 billion Series G led by GIC and Coatue.
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Crypto traders just paid through the nose for Anthropic exposure. Some shelled out 1% per hour—yes, per hour—to hold leveraged positions tied to the AI company's valuation.
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The action's happening on Hyperliquid, where USDH-denominated contracts track roughly $7.5 million in Anthropic open interest.
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USDH calls itself a stablecoin. It's not really stable.
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The token's bounced between $0.72 and $1.11 over the past year, which makes pricing these contracts pretty murky.
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Over one weekend, traders using 3x leverage paid hourly funding rates that peaked around 1.5%. Do the math: that's annualized costs in the five-digit percentage range.
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The oracle sat near $934 billion while Hyperliquid's market price blew past $1.06 trillion. A 13.6% premium.
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Traders didn't back off. The speculative pull of Anthropic's growth story kept them paying, even as the costs stacked up.
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In February 2026, Anthropic closed a $30 billion Series G led by GIC and Coatue. That round valued the company at $380 billion post-money, and the implied market value shot…
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Shorts made a killing. The inflated premiums longs paid meant funding rates favored short positions heavily.
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The setup's pretty wild when you step back. Traders bet on a private company's valuation using a token that's not really stable, on a platform where the oracle price and market…
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Some traders probably made money. If you timed the swings right or shorted at the peak, the funding rates worked in your favor.
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Read also: BTC Holders Face Quantum Computer Risk as Project Eleven Warns Network Unprepared
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The real-time value of Anthropic remains unknown outside Notice's estimates. The company's not public, so there's no ticker, no daily close, no SEC filings to anchor the price.
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