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

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

Bitget2024/02/27 04:14
By:Bitget
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%)
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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.

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