Bitcoin Funding Rates Hit 0.0100% as Open Interest Dips
Bitcoin leads cryptocurrency funding rates at 0.0100% every eight hours while open interest experiences a slight decline, according to Pluang.
Bitcoin leads cryptocurrency funding rates across the market, maintaining a rate of 0.0100% every eight hours, according to Pluang. The milestone funding metric arrives as open interest across Bitcoin derivatives markets experienced a minor pullback.
Derivatives Rates Hold Steady
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The 0.0100% rate per eight-hour interval represents the ongoing cost for long position holders to maintain leverage relative to shorts. Despite Bitcoin leading funding rates, overall open interest in perpetual contracts dipped slightly, signaling a slight reduction in total active leverage.
Key facts
- Bitcoin funding rates held at 0.0100% every eight hours.
- Open interest in Bitcoin perpetual contracts declined slightly.
- Bitcoin maintained the highest funding rate relative to other cryptocurrencies.
Source: news.google.com
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