By Keel Research Team · Updated September 19, 2026
Compute the realized PnL of a Hyperliquid perp trade with funding and fees included. Enter entry, exit, position size, hold duration, funding rate and maker or taker — the calculator returns gross PnL, funding paid or received, the fee on both legs, and net PnL.
Default 0.00125%/h is Hyperliquid’s interest floor (0.01% per 8 h). Positive = longs pay shorts.
Hyperliquid Tier 0 perps rates, charged on the open and the close. Volume tiers, staking discounts and builder fees: see the fee calculator.
Long pays positive funding, receives negative. Charged here on the entry notional every hour; Hyperliquid charges size × oracle price, so the real figure drifts with the price.
On $10,000.00 in and $10,500.00 out.
The gross PnL of a Hyperliquid perpetual trade is the price return times notional, signed by side: gross = side × size × (exit/entry − 1). For a long, exit above entry is profit; for a short, exit below entry is profit.
The funding layer: Hyperliquid pays funding every hour, computed on position size × oracle price. The calculator charges it on the entry notional for every hour of the hold — funding = side × size × rate_per_hour × hours— so on a 5% move the real figure is within about 5% of this one. By Hyperliquid’s convention positive funding means longs pay shorts; the default rate is the venue’s interest floor of 0.00125% per hour (0.01% per 8 hours).
The fee layer: every fill pays the venue’s maker or taker rate on its notional — Tier 0 is 1.5 bps maker, 4.5 bps taker — so a trade pays it twice, on the opening notional and on the closing notional (the same units at the exit price): fees = rate × (size + size × exit/entry). Volume tiers, HYPE staking, referral discounts and builder fees are on the fee calculator.
Net PnL is gross PnL minus funding (positive if paid, negative if received) minus fees. The calculator also shows net PnL as a percentage of position notional — the right denominator for comparing strategies across asset sizes.
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Funding is computed as entry notional × funding_rate_per_hour × hold_hours. Hyperliquid pays funding every hour, and by its convention a positive rate means longs pay shorts: a long with positive funding shows the funding line as paid (it reduces net PnL); a short with positive funding shows it as received. Hyperliquid charges each hour on position size × oracle price, so the exact figure drifts with the price over the hold — this calculator uses the entry notional throughout, which is within a few percent on a typical move.
Most calculators model PnL as just (exit − entry) × size, which is close on minute-scale trades and wrong on multi-hour holds in a funded perpetual. The realized PnL of a perp trade is gross price PnL minus funding paid (or plus funding received) minus the trading fee on both the opening and the closing fill. This calculator shows all three lines and net = gross − funding − fees.
Hyperliquid's funding rate has a fixed interest component of 0.01% per 8 hours — 0.00125% per hour, about 11.6% a year paid to shorts — plus a premium that tracks the gap between the perp and the oracle price. The calculator defaults to that 0.00125%/h floor; funding is capped at 4% per hour. A rate far above the floor that persists for days is a crowded-positioning signal, and at $10k notional even 0.01%/h costs $24 a day. Check the funding leaderboard for live rates before assuming a number.
Notional in USD is the cleanest input for cross-asset comparison and matches how Hyperliquid sizes margin (USD-denominated). It also makes funding and fees trivially scalable: at $10k notional the 0.00125%/h floor costs $3.00 a day, and a taker round trip costs about $9.00. Use contracts/units in your order-entry UI; use notional in the calculator.
Open the Lab, build a screen, and click 'Backtest in Keel.' The Keel backtest engine simulates entry, exit, fees, slippage, and funding for every signal-generated trade across your chosen universe and time range — the same lines as this calculator, run at scale. From there you can change a parameter, re-run, and deploy live.
Maker/taker rates by volume tier, HYPE staking and referral discounts, and the builder fee a front-end adds on top.
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