This funding rate is 0.004129%, and the direction is stated plainly: longs pay shorts based on the notional value of their positions. The next settlement is at 08:00 UTC.
The rate reflects the cost of closing the gap between the perpetual and spot prices; it has nothing to do with whether prices rise or fall in the next stretch. The mark price is 0.06825279 and the index price is 0.06828293. The two figures are only slightly different, and the funding rate moves with that small gap.
Another figure often cited alongside it: open interest stands at 2,410,466,109 $DOGE , worth about $165 million at the mark price. It measures the size of positions that have yet to be closed; spot trading volume measures how much changed hands over the past 24 hours. They are two different yardsticks.
When these figures are cited in the same passage, it’s easy to read them as if they were the same thing.
#Dogecoin #Crypto $DOGE
For personal observation only. Investing involves risk.
The rate reflects the cost of closing the gap between the perpetual and spot prices; it has nothing to do with whether prices rise or fall in the next stretch. The mark price is 0.06825279 and the index price is 0.06828293. The two figures are only slightly different, and the funding rate moves with that small gap.
Another figure often cited alongside it: open interest stands at 2,410,466,109 $DOGE , worth about $165 million at the mark price. It measures the size of positions that have yet to be closed; spot trading volume measures how much changed hands over the past 24 hours. They are two different yardsticks.
When these figures are cited in the same passage, it’s easy to read them as if they were the same thing.
#Dogecoin #Crypto $DOGE
For personal observation only. Investing involves risk.