XRP Funding Leads Five Markets at 10.9% as Open Interest Falls 6.35%

At 6:01 a.m. ET Wednesday, Nov. 11, XRP had the highest annualized funding rate among five crypto markets at 10.9%, while its open interest fell 6.35%, the group’s largest 24-hour decline.

Open interest declined for Bitcoin, Ether, Solana, XRP and Dogecoin. Long accounts made up a larger share than short accounts in every market. The figures covered perpetual futures, where positive funding means traders with long positions pay those holding short positions.

A Sunday, Nov. 8 five-asset snapshot also put XRP’s annualized funding at 10.9%, while Ether had the largest open-interest decline, at 7.80%. In Wednesday’s snapshot, XRP led the declines.

Bitcoin (BTC) had a mark price of $74,010 and funding of 0.0066% every eight hours, or 7.2% annualized. Its open interest was $7.39 billion, down 0.22% over 24 hours. Long accounts made up 73.2%, compared with 26.8% short accounts.

Ether (ETH) was marked at $2,059, with funding of 0.0046% every eight hours, or 5.1% annualized. Open interest was $4.72 billion after a 0.89% decline. Long accounts accounted for 76.4%, and short accounts 23.6%.

Solana (SOL) had a mark price of $83.80 and funding of 0.0089% every eight hours, or 9.7% annualized. Open interest fell 2.25% to $813.8 million. Long accounts were 77.0%, against 23.0% short accounts.

XRP’s mark price was $1.06. Its funding rate was 0.0100% every eight hours, or 10.9% annualized. Open interest stood at $324.1 million, with 74.7% of accounts long and 25.3% short.

Dogecoin (DOGE) was marked at $0.0681, with funding of 0.0054% every eight hours, or 5.9% annualized. Open interest was $166.5 million, down 0.91%. Long accounts represented 72.0%, while short accounts made up 28.0%.