XRP Funding Leads Five Assets at 0.0100% as Dogecoin Rate Is Negative

Dogecoin (DOGE) was the only one of five tracked crypto assets with negative perpetual-futures funding at 6:01 p.m. ET (23:01 UTC) Nov. 7, while open interest declined across the group.

Dogecoin’s funding rate was -0.0013% every eight hours, or -1.4% annualized. Bitcoin (BTC) had a funding rate of 0.0056% every eight hours in the evening snapshot.

Funding is a periodic payment between traders holding opposing perpetual-futures positions. When the rate is positive, traders holding long positions pay those holding shorts; a negative rate reverses the payment. The annualized figures express the eight-hour rates as yearly rates, rather than changes in asset prices.

Open interest, the value of outstanding derivatives contracts, fell over the preceding 24 hours for all five assets in the evening reading.

XRP had the highest funding rate in the evening group at 0.0100% every eight hours, or 10.9% annualized. Its open interest fell 2.44% to $387.2 million, the steepest percentage decline among the five. XRP’s mark price was $1.16, and 73.8% of accounts were long, compared with 26.3% short.

Bitcoin’s mark price was $75,711. Its open interest declined 0.67% to $7.28 billion, the largest outstanding total in the group. Funding stood at 6.1% annualized, while long accounts made up 75.4% and short accounts 24.6%.

Ether (ETH) had a $2,233 mark price and $5.26 billion in open interest, down 1.62% over 24 hours. Its funding rate was 0.0055% every eight hours, or 6.0% annualized. Long accounts represented 77.9%, against 22.1% short.

Solana (SOL) had a $89.23 mark price and $833.5 million in open interest, down 0.61%. Funding was 0.0013% every eight hours, or 1.4% annualized. Its accounts were 78.4% long and 21.6% short.

Dogecoin’s mark price was $0.0713. Its open interest fell 1.07% to $177.3 million, the smallest total among the five assets. Despite its negative funding rate, 73.4% of accounts were long and 26.6% were short.