Dogecoin Leads Five-Asset Open-Interest Declines With 2.37% Drop

At 7 a.m. ET (11:00 UTC) Oct. 29, open interest fell across all five crypto markets in a perpetual-futures snapshot, with Dogecoin (DOGE) recording the largest decline. Long accounts outnumbered short accounts in every market.

Bitcoin (BTC) had a mark price of $80,260 and a funding rate of 0.0077% every eight hours, equivalent to 8.4% annualized. Open interest declined 0.97% over 24 hours to $7.78 billion. Long accounts made up 69.0% of the total, while short accounts represented 31.0%.

Ether (ETH) had a mark price of $2,327 and funding of 0.0058% every eight hours, or 6.4% annualized. Its open interest fell 1.00% to $5.58 billion. Long accounts were 77.8% of the total, compared with 22.2% short.

Solana (SOL) had a mark price of $100.55, with funding at 0.0065% every eight hours, or 7.1% annualized. Open interest declined 1.90% to $920.4 million. Accounts were 76.6% long and 23.4% short. XRP’s mark price was $1.29, and its funding rate was 0.0071% every eight hours, or 7.7% annualized. Open interest fell 2.25% to $400.2 million, while accounts were 75.5% long and 24.4% short.

DOGE had a mark price of $0.0785 and the group’s highest funding rate, at 0.0079% every eight hours, or 8.6% annualized. Its open interest declined 2.37% to $220.1 million. Long accounts were 73.1% of the total, compared with 26.9% short.

Open interest tracks the value of derivatives positions that have not been closed. The positive funding rates mean traders holding long positions pay those holding short positions in perpetual futures. Bitcoin’s open interest had risen 4.38% to $7.85 billion in an Oct. 27 five-asset futures snapshot.