A funding rate is a daily percentage — usually written as %/day — that says how much interest a given amount would earn if lent out for one day at that rate. Hahalend's dashboard also converts that into an annualized number (rate × 365) so it's easier to compare at a glance, but the actual interest you earn is calculated and credited daily, not annually.
That daily number isn't fixed, and it isn't exactly what lands in your account either: Bitfinex takes a cut before your interest is credited, and the rate itself moves with the market. This page walks through both of those honestly — what the number on your dashboard means, and why your real return is a little different from it.
The Rate Is a Daily Percentage, Not the APR You See
Bitfinex quotes funding rates as a daily percentage (%/day) — the actual unit the exchange settles interest in. A rate of 0.05%/day means $1,000 lent for one day earns roughly $0.50 in gross interest, before any fee. Hahalend's dashboard also shows an annualized APR (the daily rate multiplied by 365) purely so a single number is easier to compare against, say, a bank savings rate — it's a projection, not a separate guaranteed number.
Because it's daily, the rate you're earning today can be different from the rate you were earning last week, and different again next week. Hahalend re-evaluates roughly once a minute and can re-price as market conditions shift.
How Hahalend Actually Picks a Number
Rather than picking a rate at random or copying whatever number looks highest, Hahalend reads the live Bitfinex order book and walks down the list of lend offers, accumulating volume until it hits a target depth — roughly where real borrower demand tends to sit. That depth-based price is the "sweet spot": high enough to be competitive, not so high that the offer just sits unfilled.
If a lot of other lenders are also clustered at that exact price — a "wall" of competing offers — Hahalend automatically prices a small step below it instead of waiting in a long queue. This only happens when that cluster is large enough to matter, and the adjustment is small and disclosed here, not a hidden mechanism.
Why Your Actual Payout Is a Bit Lower Than the Rate
Bitfinex keeps a cut of the interest you earn before crediting the rest to your account: 15% of gross interest on a normal offer, or 18% if the offer used Hahalend's hidden-orders feature. This isn't a Hahalend fee layered on top — it's Bitfinex's own funding-provider fee, taken directly on Bitfinex's side.
Your reports show both numbers: gross interest (before the cut) and net interest (after it), so you can see exactly what Bitfinex kept versus what you actually received. The rate shown elsewhere in the app is the gross rate, before that cut is applied. If you ever want to check the math yourself, both figures are exported in your CSV reports — a Growth-plan-and-above feature — alongside the rate and period for each closed lending offer.
Rates Move — There's No Fixed Number
None of this changes the fact that funding rates are set by the market, not by Hahalend. They can be quite low during calm periods and spike when borrowing demand is high. On the Starter plan, your funds lend at a single steady base rate that tracks the market as it moves. Growth and above split funds across three layers instead — a steady base rate, a layer that adjusts with volatility, and an ambitious layer that only fills during spikes — specifically to handle that variability. Either way, nothing here guarantees a specific return.
Frequently Asked Questions
What does the rate on my dashboard actually mean?
It's a daily percentage (%/day) — the unit Bitfinex actually settles interest in. The APR you also see is just that daily rate multiplied by 365 for easier comparison; it's a projection, not a separately guaranteed number.
Why is my actual return lower than the rate shown?
Bitfinex keeps 15% of your gross interest as its own fee (18% if the offer was hidden) before crediting the rest to you. The rate displayed in the app is the gross rate, before that cut.
How does Hahalend pick a rate for me?
It reads the live Bitfinex order book and finds the price where real borrower demand actually sits, rather than guessing. If too many other lenders are clustered at that exact price, it prices a small step lower to avoid a long queue.
Can the rate go up or down after I start lending?
Yes. Rates move with the market constantly, and Hahalend re-evaluates roughly once a minute. Nothing about automating this guarantees a specific return.
How does Hahalend decide what rate to lend at?
On the Starter plan, it's a single steady base rate that tracks the live market. On Growth and above, it's split across three layers instead: a base layer targeting that steady market rate, a volatility layer with a small buffer, and a dream layer at a high fixed rate that only fills when the market spikes. One single rate can't be both safe and ambitious at the same time, which is why the split exists on plans that support it.