By Keel Research Team · Updated May 12, 2026
The funding rate screener finds Hyperliquid pairs paying the most carry — high funding combined with low realized volatility. Short the perp, hedge with spot or another long perp, and collect funding while volatility stays contained. Ranked across the top-100 universe, hourly.
The Carry Trade screen ranks Hyperliquid perpetuals by funding-rate yield, filtered for assets that are not also high-volatility traps. X-axis: hourly funding rate as a percentile across the universe — top quartile (75th+) means heavily-positive funding, with longs paying shorts most aggressively. Y-axis: normalized ATR (volatility) — we want the bottom 30% (lowest realized vol), because high-funding pairs that also swing 20% intraday are usually paying you to take asymmetric risk. Z-axis: ROC at the 50th+ percentile, a soft gate to avoid pairs that are crashing despite the funding signal. The result is the cohort of HL pairs where the funding-rate carry is highest relative to the volatility you’re shorting into — the cleanest carry setups. Funding settles hourly on Hyperliquid; the screen refreshes on the same cadence.
The screen below is pre-loaded with the Carry Trade preset. Adjust signals, thresholds, and timeframe inline — your changes update the cohort in real time. Share or backtest the resulting state directly from the toolbar.
Keel is a Strategy OS for AI-assisted systematic trading on Hyperliquid. Backtest a strategy that uses the Carry Trade signals as entry filters, optimize parameters across thousands of variants, then deploy live with funding-aware execution and full risk controls.
Free to start — connect a Hyperliquid wallet when you’re ready to go live.
A funding rate is a periodic payment between perpetual longs and shorts that keeps the perp price anchored to the spot oracle. Positive funding means longs pay shorts (perp trades above oracle); negative funding means shorts pay longs. Hyperliquid settles funding hourly.
Carry is the funding you collect by shorting the perp when funding is heavily positive, hedged with a long position (spot, another perp, or a delta-neutral instrument) so you’re market-neutral. Net P&L is the funding you collect minus hedge cost and any divergence between perp and oracle.
High funding compensates traders for taking risk on the other side. If a pair is also extremely volatile, you’re more likely to get stopped out or wear a large mark-to-market drawdown before funding pays you back. Low-volatility, high-funding pairs are the cleanest setups.
Market data refreshes hourly. The screen recomputes percentile rankings, thresholds, and qualifying cohorts on each refresh. Funding rates update on the same hourly cadence as Hyperliquid’s native funding settlement.
Funding regimes reverse. A pair carrying 50%+ annualized for weeks can flip to flat or negative inside hours, often around news or large price moves. The screen surfaces current opportunity; persistent carry requires monitoring funding-rate trajectory, not just the current value.
Yes. Open the screen, click "Backtest in Keel," and the current state — signals, thresholds, universe, timeframe — passes into a Keel workspace. From there, you can run a full backtest with realistic fees, slippage, and funding modeled, then optimize and deploy live.
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