XRP Leads at 8.9% Annualized Funding as Dogecoin Open Interest Climbs 8.49%

XRP had the highest funding rate among five crypto markets in an Oct. 16 perpetual-futures snapshot, while Dogecoin recorded the largest 24-hour increase in open interest.

At 7 a.m. ET (11:00 UTC), XRP’s rate was 0.0082% per eight-hour period, equivalent to 8.9% annualized. Dogecoin open interest rose 8.49% to $216.5 million. All five assets had positive funding rates, meaning traders with long positions paid those holding short positions. Long accounts were the majority in every market.

The previous five-asset snapshot had XRP and Dogecoin tied at 10.9% annualized. In the Oct. 16 reading, XRP led at 8.9%.

Bitcoin (BTC) had a mark price of $82,183 and a funding rate of 0.0036% per eight hours, or 3.9% annualized. Open interest reached $7.76 billion, up 3.73% over 24 hours. Long accounts made up 61.1%, while short accounts were 38.9%.

Ether (ETH) had a $2,464 mark price and a 0.0055% funding rate per eight hours, equivalent to 6.1% annualized. Open interest totaled $5.56 billion, up 1.21%. Long accounts represented 71.6%, compared with 28.4% short.

Solana (SOL) had a mark price of $106.68. Its funding rate was 0.0060% per eight hours, or 6.6% annualized, and open interest reached $966 million, up 3.49%. Long accounts were 70.4% of the total; short accounts were 29.6%.

XRP’s mark price was $1.34, and its open interest increased 0.58% to $398.5 million. Long accounts accounted for 72.9%, against 27.1% short. Dogecoin (DOGE) had a mark price of $0.0822 and a funding rate of 0.0056% per eight hours, or 6.1% annualized. Its accounts were 71.3% long and 28.7% short. Open interest measures the value of outstanding derivatives contracts.