Perpetual futures have no expiry, so an exchange uses a funding rate to keep their price tethered to spot. At each funding interval (often every 8 hours), one side pays the other a small percentage. A positive funding rate means longs pay shorts — typical when the perp trades above spot because longs are crowded; a negative rate means shorts pay longs.
Traders read funding as a sentiment and crowding gauge. Persistently high positive funding signals an over-leveraged long side that is vulnerable to a long squeeze, and vice versa. It is also a real cost: holding a position through funding either earns or pays that rate.
Esempio
BTC perp funding sits at +0.05% per 8h while price runs above spot — longs are paying to stay in, a sign the rally is crowded.
Come Noon Barbari usa Funding Rate
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See perps data in noonbarbari →Termini correlati
- Generale
Open Interest
The total number of derivative contracts currently open and not yet settled.
- Generale
Long/Short Ratio
The proportion of traders (or position value) that is long versus short on an asset.
- Generale
Long
A position that profits when price rises. To 'go long' = to buy.
- Generale
Short
A position that profits when price falls. To 'short' = to sell first, buy later.