Hyperliquid vs CoinEx funding rates

It compares live perpetual funding markets that are available on both Hyperliquid and CoinEx. Each row shows the current funding spread, the best long and short direction between the two exchanges, open interest context, price gap, and a handoff into Backtester.

Shared markets are coins that ZEEK currently sees on both Hyperliquid and CoinEx. They are included even when the current funding spread is flat or negative, because the page is meant to be a complete exchange-pair view, not only a list of profitable-looking spreads.

A positive spread means the best current long/short direction has positive funding carry before fees, slippage, borrow or transfer costs, and exchange risk. It is a starting point for checking, not a trade recommendation.

Yes. Backtester can be opened for any shared market with both exchange legs. That is useful for checking history, fees, timing, and whether a market that looks flat now has behaved differently across previous funding windows.

Bps shows the current funding spread in basis points for the live funding window. APY annualizes that current snapshot so markets can be compared quickly, but it can change as soon as funding rates move.