Bottom line: GPSUSDT perpetuals are down 23.88% over 24 hours, but open interest (OI) has not fallen significantly. Instead, it rose by about 5.95% from afternoon into evening. This means participation in the contract market remained high during the decline. Current price action looks more like a high-volatility battle than a confirmed reversal after a thorough washout.
As of 21:21 Beijing time on October 13, 2026, the latest Binance GPSUSDT perpetual price was approximately 0.007811 USDT, with a 24-hour high of 0.010378 and a low of 0.007601. Trading volume was approximately 14.71 million USDT. The latest Binance spot price was approximately 0.007840, down about 23.66% over 24 hours. Spot is slightly above the perpetual price, but this small price difference is just market information and should not be treated as a reversal signal on its own.
Looking at the completed candlesticks, the main decline occurred during the 00:00–04:00 four-hour period: the open was 0.009321, the low was 0.007601, the close was 0.007945, and trading volume was approximately 6.53 million USDT. The subsequent complete four-hour candlestick, from 16:00 to 20:00, opened at 0.008005, reached a high of 0.008084 and a low of 0.007691, and closed at 0.007851, with trading volume of approximately 2.39 million USDT. The price has yet to reclaim 0.008084, suggesting that the rebound is still more of a recovery than a confirmed breakout.
Leverage data are more noteworthy. At 14:00, OI was approximately 783.1 million contracts, with a notional value of around 6.4468 million USDT. By 21:00, it had risen to approximately 829.7 million contracts—an increase of about 5.95%—while its notional value was around 6.4537 million USDT, essentially unchanged. A falling price alongside an increase in contract count could indicate that both longs and shorts are repositioning at lower levels, or that new short positions are being added. OI alone cannot indicate market direction, so it would be unwise to interpret this move as meaning that “the shorts are done.”
The funding rate is also weakening. The latest settlement was approximately +0.003130% per 8 hours, while the current rate field is around -0.001101% per 8 hours. The shift from positive to weaker rates indicates that long-side positioning has become less crowded, but a negative funding rate does not mean the decline has bottomed. Price and OI still need to show improvement together.
For the short term, there are three levels to watch: 0.007601 is the intraday support low; 0.007691–0.007851 is the current recovery zone; and 0.008084 is the high of the most recent complete four-hour candlestick. The rebound structure will improve significantly only if the price closes above 0.008084 on increased volume and holds above it on a retest. If a four-hour candle closes below 0.007601, the short-term recovery thesis in this article is invalidated, and the risk of further downside will increase.
Data sources: Public Binance Futures and Spot APIs. Data captured on 2026-10-13 at 21:21 (Beijing time). This article analyzes publicly available market data only and does not constitute investment advice.