XRP Leads Five-Asset Funding Snapshot at 0.0100% While Bitcoin Posts -0.0007%

XRP recorded the highest funding rate among five crypto assets in a Nov. 7 snapshot at 0.0100% every eight hours, while Bitcoin was the only one with a negative reading at -0.0007%.

The snapshot, taken at 6:01 a.m. ET (11:01 UTC), put XRP's mark price at $1.17 and open interest at $391.2 million, down 1.23% over 24 hours. The rate was equivalent to 10.9% annualized. Long accounts made up 73.8% of the account split, compared with 26.2% short.

Bitcoin (BTC) had a mark price of $75,954 and open interest of $7.29 billion, up 0.38% over 24 hours. Its rate was -0.8% annualized. Long accounts represented 75.1% of the split, while short accounts represented 24.9%.

A positive funding rate means traders with long positions pay those with short positions. Ether (ETH) had a rate of 0.0055% every eight hours, or 6.0% annualized, and a mark price of $2,246. Its open interest was $5.35 billion, up 1.21%, with 78.3% of accounts long and 21.6% short.

Solana (SOL) had a rate of 0.0029% every eight hours, or 3.2% annualized. Its mark price was $89.95, and open interest was $842.4 million, up 1.51%. Long accounts made up 78.3%, and short accounts 21.7%.

Dogecoin (DOGE) had a rate of 0.0010% every eight hours, or 1.1% annualized. Its mark price was $0.0719, and open interest was $179.7 million, down 0.49%. The account split was 73.3% long and 26.7% short.

Ether and Solana had the largest long-account shares in the snapshot. The reading also extended a series of five-asset funding updates: XRP's rate matched its Oct. 23 snapshot reading, also 0.0100% every eight hours. Open interest increased for Bitcoin, Ether and Solana and declined for XRP and Dogecoin.