Open Interest Falls Across Five Assets as XRP Funding Leads at 10.9%

Open interest fell across five crypto assets over 24 hours in a Sunday snapshot, while XRP recorded the highest perpetual-futures funding rate. Solana had the largest open-interest decline, at 3.62%, as long accounts outnumbered short accounts for every asset tracked.

XRP’s funding rate was 0.0100% every eight hours, equivalent to 10.9% annualized. Its mark price was $1.29, and open interest totaled $389.1 million, down 3.26% over 24 hours. Long accounts made up 74.0% of the total, compared with 26.0% short. An Oct. 21 five-asset snapshot recorded XRP open interest up 7.60% to $446.7 million, showing a different 24-hour direction at that observation time.

Funding is a periodic payment between traders holding opposite positions in perpetual futures. When the rate is positive, traders with long positions pay those with short positions. Four assets had positive funding in this snapshot; Solana was the exception.

Bitcoin (BTC) had a mark price of $80,351 and a funding rate of 0.0076% every eight hours, or 8.3% annualized. Open interest was $7.48 billion, down 1.61% over 24 hours. Long accounts represented 67.3%, against 32.7% short. The positive rate differed from the below-zero reading in an earlier Bitcoin snapshot.

Ether (ETH) was marked at $2,330. Its funding rate was 0.0045% every eight hours, or 4.9% annualized, and open interest fell 2.73% to $5.36 billion. Long accounts accounted for 75.5%, while short accounts made up 24.5%.

Solana (SOL) had the only negative funding rate, at -0.0026% every eight hours, or -2.8% annualized. Its mark price was $100.86, and open interest declined 3.62% to $855.9 million. Long accounts made up 73.9%, compared with 26.1% short.

Dogecoin (DOGE) had a mark price of $0.0766 and positive funding of 0.0031% every eight hours, or 3.4% annualized. Open interest fell 2.22% to $208.6 million. Long accounts represented 71.4%, against 28.6% short.

Open interest measures the dollar value of derivatives contracts that remain active. In this snapshot, it ranged from $208.6 million for Dogecoin to $7.48 billion for Bitcoin. The 24-hour declines ranged from 1.61% for Bitcoin to 3.62% for Solana, while the long-account share ran from 67.3% for Bitcoin to 75.5% for Ether.