Fees and hours to recover

Hyperliquid keeps no cut of funding payments. Which of these do you still pay on a cash-and-carry there?

• Nothing but slippage
• A trading fee on each of the four fills
• A borrow fee on the short

Funding on one venue is printed as 0.0100% per 8 hours. Before dividing a round-trip cost by it to get hours, what must you do?

• Multiply it by 8
• Convert it to per hour with that venue's rule: 0.0100 ÷ 8 = 0.00125% per hour
• Use it as it is, because the units cancel