XRP Leads Open-Interest Declines as Five Crypto Futures Markets Shrink

XRP open interest fell 11.72% in a Nov. 9 snapshot, the steepest drop among five major crypto perpetual-futures markets, while Bitcoin remained largest by outstanding contract value.

At 6:01 a.m. ET, open interest was lower across all five assets over 24 hours. Bitcoin's decline was the smallest, at 1.33%. Open interest measures the value of outstanding derivatives contracts. Funding rates are periodic payments between traders holding opposing positions; a positive rate means traders with long positions pay those with short positions.

Bitcoin (BTC) had $7.19 billion in open interest. Its mark price was $74,088, and its funding rate was 0.0087% per eight hours, or 9.5% annualized. Long accounts represented 74.6%, compared with 25.4% short.

Ether (ETH) had $4.77 billion in open interest, down 10.11%. Its mark price was $2,106, and its funding rate was -0.0032% per eight hours, or -3.5% annualized. Long accounts made up 79.8%, while short accounts accounted for 20.3%.

Solana (SOL) open interest fell 5.11% to $796.3 million. Its mark price was $85.82, and its funding rate was 0.0006% per eight hours, or 0.6% annualized. Long accounts represented 77.1%, compared with 22.9% short.

XRP open interest dropped to $343.8 million. Its mark price was $1.08, and its funding rate was 0.0089% per eight hours, or 9.7% annualized. Long accounts made up 73.7%, while short accounts represented 26.3%.

Dogecoin (DOGE) had $167.7 million in open interest, down 6.99%. Its mark price was $0.0687, and its funding rate was 0.0024% per eight hours, or 2.7% annualized. Long accounts represented 72.1%, compared with 27.9% short.