Quantority
BTCperpetual futures
Funding is the periodic payment exchanged between long and short perpetual positions. A high 90-day percentile means funding for BTC is elevated versus its own recent norm — often a sign of crowded longs and a higher chance of a long squeeze.
Funding history
Jade above the zero line: longs pay shorts. Clay below: shorts pay longs.
BTC across exchanges
| Exchange | Funding APR | Open interest | OI share |
|---|---|---|---|
B Bybit | +10.91% | $3.50B | 46% |
B Bitget | +2.08% | $2.16B | 28% |
O OKX | +3.53% | $1.95B | 26% |
Funding annualized per venue interval; open interest is the latest reading per exchange.
Interpretation
BTC's derivatives positioning shows modest long bias with contained risk. The aggregated funding rate stands at 1.35%, indicating longs are paying shorts a modest premium—typical of a market leaning bullish but not excessively so. This funding rate sits at the 39th percentile of its 90-day range, meaning current conditions are actually below the median stretch for BTC and well within historical norms.
Open interest totals $13.6B across exchanges. Over the past 24 hours, positions grew 1.9%, suggesting modest fresh leverage entry, though the 7-day trend reversed with a −1.9% decline. This near-flat weekly profile indicates positioning is consolidating rather than decisively building or unwinding. The liquidation imbalance of +0.00 shows perfect symmetry between long and short liquidations over the day, with no directional pressure from forced closures.
The leverage risk score of 13 is notably low, reflecting a healthy, non-fragile structure across the derivatives market. Combined with moderate funding, stable open interest, and balanced liquidations, BTC's perpetual-futures setup presents minimal systemic vulnerability despite the slight long tilt. The market is neither overcrowded nor starved of positioning.
FAQ
What is the funding rate for BTC right now?
As of the latest reading, BTC aggregated funding is +4.35% annualized, at the 62th percentile of its own last 90 days. Funding is a recurring payment between long and short BTC perpetual holders that keeps the contract price anchored to spot: positive means longs pay shorts, negative means shorts pay longs.
What does a high funding percentile mean?
It means current BTC funding is high versus its own last 90 days — usually a sign of crowded long positioning, which can precede a long squeeze if price turns.
How is aggregated funding calculated?
Each exchange's rate is annualized (accounting for 4h vs 8h intervals), then averaged weighted by open interest across Binance, Bybit, OKX and Bitget. See the methodology page for the exact formula.
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Exactly how each number is computed.