Arbitrum Holds Near $0.18 as Futures Open Interest Climbs 17.6%

Arbitrum (ARB) fell 3.24% to $0.18 on Oct. 9 as Binance Futures open interest increased 17.6%, leaving the market’s direction unresolved amid mixed positioning signals.

ARB traded between $0.16 and $0.19 on Binance spot, with approximately $19.4 million in 24-hour volume. Binance Futures open interest rose to about $54.4 million, representing 264.3 million contracts.

The funding rate was negative at -0.0111% per eight-hour settlement, meaning short positions paid long positions. Binance’s global account ratio showed 51% of accounts net long and 49% net short at 4 a.m. ET (08:00 UTC). Among top-trader accounts, 55.9% were net long and 44.1% were net short.

The positioning data left ARB near the lower Bollinger Band at $0.17. The middle band was $0.21, the upper band was $0.24 and the %B reading was 0.0644.

Momentum indicators also lacked a confirmed direction. The 14-period daily relative strength index was 45.86, while the stochastic oscillator showed %K at 22.79 and %D at 18.23. The stochastic readings were in oversold territory, but the Moving Average Convergence Divergence line and signal line were both at $0.0048, leaving the histogram at 0.0000.

ARB remained below its seven-day simple moving average at $0.19, its 20-day average at $0.21 and its 12-day and 26-day exponential moving averages at $0.19. It was above the 50-day simple moving average at $0.16 and the 200-day average at $0.11.

Technical levels placed support at $0.16 and $0.15, with resistance at $0.19 and $0.20. For the one-hour period ending at 4 a.m. ET, the taker buy/sell ratio was 1.0195, based on $7.95 million in buying volume and $7.80 million in selling volume.

The figures show increased derivatives activity without establishing whether traders were building bearish exposure or positioning for a rebound. The account ratios cover Binance accounts and do not measure spot positions, activity on other exchanges or hedged strategies.