Dogecoin Open Interest Rises 5.68% as Five Crypto Assets Gain

Dogecoin recorded the largest 24-hour increase in derivatives open interest among five major crypto assets as traders added exposure across the group, while funding rates remained mixed in the latest snapshot.

At 7:04 a.m. ET (11:04 UTC), Dogecoin open interest rose 5.68% to $241 million. Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP also posted gains in open interest, and long accounts outnumbered short accounts for each asset.

Open interest measures the value of outstanding perpetual-futures contracts. Funding payments are exchanged between traders with opposing positions every eight hours, with positive rates generally meaning traders holding long positions pay those holding shorts.

Bitcoin’s mark price was $83,390. Its funding rate was 0.0054% every eight hours, equal to 5.9% annualized. Open interest increased 2.22% to $7.90 billion, while accounts were 58.1% long and 41.9% short.

Ether’s mark price stood at $2,552. Funding was 0.0011% every eight hours, or 1.2% annualized, and open interest rose 3.07% to $5.99 billion. Long accounts made up 72.4% of the total, compared with 27.7% for short accounts.

Solana had the highest funding rate in the group at 0.0061% every eight hours, equivalent to 6.7% annualized. Its mark price was $111.30, and open interest increased 0.98% to $946.3 million. Long accounts represented 69.8%, while short accounts represented 30.2%.

XRP was the only asset with negative funding. Its rate was -0.0011% every eight hours, equivalent to -1.2% annualized. Open interest rose 0.50% to $416.9 million, and the mark price was $1.40. Long accounts accounted for 70.1%, compared with 29.9% for shorts.

Dogecoin’s mark price was $0.0871, while funding stood at 0.0048% every eight hours, or 5.3% annualized. Long accounts represented 69.2% of the total and short accounts 30.8%.

The latest reading follows an earlier period when Dogecoin led declines in perpetual-futures open interest, showing a reversal in the asset’s short-term derivatives positioning.