Bitget Futures Market Update: Funding Rate for Major Cryptos Near 50% APR

Bitget2024/02/27 04:14

By:Bitget

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Bitget Futures Market Update: Funding Rate for Major Cryptos Near 50% APR image 0

The chart shows the annualized funding rate for the top 25 cryptocurrencies by market value. The yellow bars represent an annualized percentage rate (APR) of nearly 50%, which indicates excess bullish leverage.

The market for most coins looks overheated, with APR nearing 50%.

Excess leverage often presages mass liquidations and rapid price corrections.

Source: Velo Data

Futures Market Updates

Over the past 24 hours, the BTC futures market suffered from short position liquidations after a surge over the $54K mark. Major cryptocurrencies such as BTC and ETH still dominate the market. Investors slightly favor long contracts over short contracts.

Bitcoin Futures Updates

Total BTC Open Interest: $24.75B (+5.65%) BTC Volume (24H): $80.96B (+241.09%) BTC Liquidations (24H): $23.61M (Long)/$157.32M (Short) Long/Short Ratio: 52.80%/47.20% Funding Rate: 0.0506%

Ether Futures Updates

Total ETH Open Interest: $11.16B (-2.07%) ETH Volume (24H): $41.02B (+48.20%) ETH Liquidations (24H): $23.44M (Long)/$42.75M (Short) Long/Short Ratio: 51.48%/48.52% Funding Rate: 0.0535%

Top 3 OI Surges

DAR: $19.18M (+164.83%) AUDIO: $16.88M (+99.31%) XVG: $37.02M (+76.02%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

The Iranian Navy Deputy Commander stated on Monday that U.S. military vessels, including destroyers and aircraft carriers, have significantly withdrawn. On the same day, the Iranian Foreign Ministry stated that Iran is reviewing the U.S. proposals, but the conditions for reopening the Strait of Hormuz remain unchanged. According to reports, with the rotation of U.S. aircraft carriers, only the USS Washington is currently deployed in the Middle East. As of last Sunday, a total of 24 vessels were attacked in the Strait of Hormuz and surrounding waters within two weeks, marking the most severe wave of incidents since the onset of the Iran conflict—far surpassing the previous two-week peak of 13 ships. Oil exports through the strait have dropped by more than 80% compared to the average daily level in September.

华尔街见闻•2026/10/13 16:06