Bitcoin Leads Five Crypto Funding Rates at 10.9% Annualized
Bitcoin (BTC) had the highest annualized funding rate at 10.9%, with a mark price of $81,769 and $7.74B in open interest. Ether (ETH) recorded 4.8% annualized, Solana (SOL) 0.4%, and Dogecoin (DOGE) 0.4%. XRP was negative at -6.0% annualized, with open interest at $399M.
How this was made
The 30-second read
Why it matters
Higher positive rates increase cost for longs, potentially prompting short covering or reduced long exposure; negative rates reward longs, supporting price.
Market read
Funding rate data provides short-term insight for traders in crypto perpetual markets.
What to watch
Liquidity conditions on major exchanges and upcoming macro events could offset funding pressure.
Background
Funding rates are periodic payments between long and short positions on perpetual futures, indicating market bias.
Ticker impact
Bitcoin funding rate reported at 10.9% annualized, the highest among major cryptos.
likely pressure on BTC as longs face higher funding costs
Funding rate is a direct cost to longs; a high rate can trigger short covering or reduced long demand.
Solana funding rate reported at 0.4% annualized.
minimal effect on SOL price
Funding rate is small; market impact likely negligible.
Dogecoin funding rate reported at 0.4% annualized.
minimal effect on DOGE price
Funding cost is minor; unlikely to move the market.
XRP funding rate reported at -6.0% annualized, the only negative rate.
potential upside for XRP as longs receive funding
Negative rate pays longs, encouraging buying pressure.
Market effects
Funding rates reflect market sentiment across major crypto assets and may influence futures and perpetual contract pricing.
Primarily impacts global crypto traders; no specific regional effect.
Relevant to all markets trading crypto derivatives.
Counterpoint
Despite high funding rates, BTC may still rally if broader risk appetite improves.
Key entities
- cryptocurrencyBitcoin
Leading crypto asset with highest funding rate.
- cryptocurrencyEthereum
Second-largest crypto, moderate funding rate.
- cryptocurrencySolana
Low funding rate, minimal impact.
- cryptocurrencyDogecoin
Low funding rate, minimal impact.
- cryptocurrencyXRP
Only negative funding rate, supports longs.
