XPL Surges Past $1.10 on Hyperliquid with 254% Annualized Funding and 36% Premium After New Pre‑Market Mark Price Rule

COINOTAG reported on August 29 that Hyperliquid’s token XPL sustained an upward move, breaching the $1.10 level. The advance coincided with pronounced derivatives metrics, underscoring significant trading interest in the protocol’s instruments.

The platform’s annualized funding rate reached approximately 254%, while the perpetual contract exhibited a roughly 36% positive premium versus Binance’s reference price of $0.808, highlighting pronounced basis differentials across venues.

Early yesterday, Hyperliquid updated its mark price calculation for pre-market perpetual contracts: the mark now combines the standard mark price formula with prices from external pre-market perpetual contracts (where available), thereby changing the inputs used for contract valuation and risk assessment.