Altcoins News
By James Thorp
1 / 15
How Hyperliquid's Funding Rates Actually Work. The 500% figure isn't a fee the exchange charges directly. It's algorithmically generated.
2 / 15
ICE and CME Raise Red Flags in Washington. US exchanges aren't staying quiet. ICE and CME have both gone to regulators in Washington to push…
3 / 15
Geopolitics Driving the Underlying Move. The conflict in Iran, which started in February, has made things worse on the supply side.
4 / 15
Hyperliquid is charging short-sellers a brutal 500% annualized fee on oil derivatives. Long traders collect those payouts every hour, turning a crowded short market into a pretty…
5 / 15
The numbers are hard to ignore. Oil prices have jumped 6% in a single day and are up 24% over the past month, driven largely by tensions in key shipping routes — specifically the…
6 / 15
The 500% figure isn't a fee the exchange charges directly. It's algorithmically generated. Hyperliquid's system uses oracle price data to keep its perpetual contracts aligned…
7 / 15
That kind of imbalance doesn't usually last long. Day traders on the short side are trying to minimize the damage by keeping positions open for only brief windows, avoiding the…
8 / 15
Part of the weirdness this week comes from timing. WTI oil is rolling from the V6 to the X6 contract, and Brent is rolling from X6 to Z6 — a transition running between September…
9 / 15
US exchanges aren't staying quiet. ICE and CME have both gone to regulators in Washington to push for scrutiny of Hyperliquid's operations.
10 / 15
No official regulatory action has been disclosed yet. Unclear whether anything formal is coming, or when.
11 / 15
Read also: Zoomex Surges to 3 Million Users Amid Job Surprises and Oil Price Turmoil
12 / 15
Hyperliquid lets traders use up to 20x leverage on Brent oil positions. At that level, a small move against you wipes out a big chunk of capital fast.
13 / 15
And yet traders keep coming. The exchange has seen heightened activity and heavily one-sided positioning this week, which is basically what produces the funding rate anomaly in…
14 / 15
The conflict in Iran, which started in February, has made things worse on the supply side. Millions of barrels move through the affected regions daily, and instability there…
15 / 15
The futures roll runs through September 14. Until that window closes, the unusual dynamics probably aren't going away.
The Currency Analytics
Want the full story?