Funding differentials, after costs.

Live Hyperliquid and Aster funding normalised to hourly rates, with Binance and Bybit predicted rates as a reference. Break-even is the number of hours a delta-neutral position (long the lower-funding venue, short the higher) needs at current rates to recover taker fees on both legs plus spread (0.200% round trip). Funding changes every interval, so most differentials compress before then.