Bitcoin Open Interest Stands at $7.68 Billion as Solana Open Interest Drops 4.25%

Solana (SOL) posted the steepest open-interest decline among five major crypto assets Saturday, while it and Bitcoin (BTC) shared the group’s highest funding rate in a 7 a.m. ET snapshot.

Solana open interest stood at $929.5 million, down 4.25% over 24 hours. Bitcoin’s was $7.68 billion, a 0.69% decline. Both assets had funding rates of 0.0035% every eight hours, equivalent to 3.8% annualized.

The snapshot was taken at 7 a.m. ET (11:00 UTC) Saturday, Oct. 17. All five assets had positive funding rates. In perpetual futures, traders with long positions pay traders with short positions when the funding rate is positive.

Ether (ETH) had a mark price of $2,439 and $5.52 billion in open interest, down 0.58%. Its funding rate was 0.0023% every eight hours, or 2.5% annualized. Long accounts made up 74% of the total, compared with 26% for short accounts.

XRP’s mark price was $1.31. Its open interest rose 0.68% to $403.5 million, and its funding rate was 0.0005% every eight hours, or 0.6% annualized. Long accounts represented 74.3%, the largest share in the snapshot; short accounts represented 25.7%.

Dogecoin (DOGE) had a mark price of $0.0805, with $215.7 million in open interest, down 0.35%. Its funding rate was 0.0015% every eight hours, or 1.7% annualized. Long accounts made up 71.4%, while short accounts made up 28.6%.

Bitcoin accounts were 63.2% long and 36.8% short. Solana accounts were 71.2% long and 28.8% short. The Oct. 9 five-asset derivatives snapshot also tracked open interest and funding rates.