> ## Documentation Index
> Fetch the complete documentation index at: https://docs.leap.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Funding

> Learn what perpetual funding is, who pays it, and where to monitor it in Leap.

Perpetual contracts do not expire.

Funding is the mechanism used to help keep a perpetual contract's price close to the underlying market over time.

## Who pays whom?

Funding is exchanged between traders on opposite sides of the perpetual market.

On Hyperliquid:

* when funding is **positive**, longs pay shorts
* when funding is **negative**, shorts pay longs

The rate can change with market conditions.

## How often?

Hyperliquid funding is paid **hourly**.

That matters most when you hold a leveraged position for longer periods. A funding rate that looks small for one hour can add up if the position stays open.

## Where to see it in Leap

Pro mode shows **Funding / hour** in the market header.

There is also a **Funding** activity tab below the chart where you can review funding-related account activity.

## Funding is not the same as a trading fee

A trading fee is associated with executing a trade.

Funding is a periodic transfer between long and short holders of a perpetual position.

You can therefore pay or receive funding while keeping the same position open, even when you do not place another trade.

## Example

If funding is positive and you hold a long position through the funding interval, your account pays funding based on the position and the applicable rate.

If the rate turns negative, the direction of the payment reverses.

## Why it matters

Before holding a perpetual position for a long time, check:

* the current funding rate
* whether you are paying or receiving
* position value
* how long you plan to keep the trade open

Funding should be part of the cost calculation, not an afterthought.