Ether Turns Negative as Four Other Assets Keep Positive Funding

Ether was the only one of five major crypto assets with a negative perpetual-futures funding rate in an Oct. 23 snapshot, after all five had positive rates in the Oct. 21 reading . Ether’s rate was -0.0002% every eight hours, equivalent to -0.3% annualized. Funding is a periodic payment between traders holding opposing positions in perpetual futures; a negative rate means short-position holders pay those holding long positions. XRP had the group’s highest funding rate at 0.0100% every eight hours, or 10.9% annualized. Its open interest was $413.8 million, down 1.98% over 24 hours. Long accounts made up 76.4% of the total, compared with 23.6% for short accounts. Bitcoin (BTC) had the largest open interest, at $7.75 billion, up 1.66% over 24 hours.

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