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Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Hyperliquid is 0.160% cheaper against Lighter than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.156%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.119%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.85 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.