Quantority
BTWperpetual futures
Funding is the periodic payment exchanged between long and short perpetual positions. A high 90-day percentile means funding for BTW 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.
BTW across exchanges
| Exchange | Funding APR | Open interest | OI share |
|---|---|---|---|
B Bybit | +13.59% | $1.85M | 64% |
B Bitget | +2.74% | $1.05M | 36% |
Funding annualized per venue interval; open interest is the latest reading per exchange.
Interpretation
BTW is exhibiting extreme positioning stress across all major derivatives metrics. The aggregated funding rate stands at 539.35%, placing it at the 97th percentile of its 90-day range—a historically aggressive level that signals deeply crowded long leverage. This elevated funding rate indicates longs are paying shorts substantially to maintain their positions, reflecting intense directional conviction or speculative accumulation near perceived support levels.
Open interest has surged dramatically, rising 146.4% over the past 24 hours and 1019.1% over seven days, bringing total notional exposure to $142.5M. This explosive growth in leverage suggests rapid accumulation of highly leveraged bets, amplifying the fragility of the market structure. The liquidation imbalance of +0.00 indicates a neutral distribution between long and short liquidations, which provides minimal relief—neither side is being systematically cleared.
The leverage risk score of 96 reflects the combination of extreme funding conditions and explosive OI growth. This rating signals acute crowding and vulnerability to sharp reversals. With funding at such elevated levels and open interest growing at such velocity, even moderate adverse price movement could trigger cascading liquidations. The market structure is stretched to a point where withdrawal of speculative demand or a reversal in sentiment poses material execution risk for positioned traders.
FAQ
What is the funding rate for BTW right now?
As of the latest reading, BTW aggregated funding is +404.53% annualized, at the 96th percentile of its own last 90 days. Funding is a recurring payment between long and short BTW 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 BTW 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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