Venues disagree about what a funding rate is. Binance publishes an 8-hour rate on a fixed schedule. Hyperliquid pays hourly. Lighter, the native leg and Robinhood Chain's perpetuals venue, pays hourly but publishes its rate on an 8-hour basis. Before anything can be differenced, all three are normalised to basis points per 8 hours.
ΔFR = FR_robinhood − ( FR_binance + FR_hyperliquid ) / 2cashflow = size × ΔFR × Δt / 28800| Venue | Endpoint | Native interval | Normalisation |
|---|---|---|---|
| Binance | GET /fapi/v1/premiumIndex · lastFundingRate | 8h | as published |
| Hyperliquid | POST /info · metaAndAssetCtxs | 1h | × 8 |
| Lighter (native) | GET /api/v1/funding-rates | 1h, quoted per 8h | as published |
- Lighter's rate is checked every round against Hyperliquid's, which the same Lighter response also carries: if the two disagree by more than timing explains, the units have changed and the read is refused.
- Binance refuses hosts in the US, Canada and the Netherlands. From there its rate is read through the same Lighter endpoint, which republishes it, and the venue's health row says so.
- History is rebuilt the same way from each venue's published record — Binance's settled rates, Hyperliquid's and Lighter's hourly ones — and stored as historical, not live.