Solana Open Interest Falls 6.59% as Ether Long Accounts Reach 75.4%

Solana (SOL) led a broad decline in crypto derivatives open interest through 7 p.m. ET (23:00 UTC) Oct. 17, while Ether had the highest long-account share among five tracked assets.

Open interest, the value of outstanding derivatives contracts, fell for all five assets. Solana’s total dropped 6.59% to $895 million, the steepest decline in the group. Its funding rate was negative 0.0056% every eight hours, or negative 6.1% annualized. The mark price was $102.95, and 72.2% of accounts were long.

Bitcoin (BTC) had the largest open-interest total at $7.62 billion, down 1.50% over 24 hours. Its funding rate was 0.0042% every eight hours, or 4.6% annualized. The mark price was $81,314; 63.5% of accounts were long and 36.5% were short.

Ether (ETH) open interest fell 1.24% to $5.36 billion. Its funding rate was 0.0052% every eight hours, or 5.7% annualized. The mark price was $2,392, and long accounts made up 75.4% of the total, the highest share among the five assets.

XRP open interest declined 1.73% to $392.1 million, with a funding rate of negative 0.0037% every eight hours, or negative 4.0% annualized. Its mark price was $1.29; 74.5% of accounts were long and 25.6% were short. Dogecoin (DOGE) open interest fell 1.09% to $208.4 million. Its funding rate was negative 0.0005% every eight hours, or negative 0.6% annualized, and 71.5% of accounts were long. Its mark price was $0.0789.

In perpetual futures, positive funding means traders with long positions pay those with short positions. A previous five-asset derivatives snapshot also tracked changes in open interest and funding rates.