Bitcoin Funding Rate Reaches 9.2% Annualized as Ether Longs Hit 74.4%

Bitcoin (BTC) funding reached a 9.2% annualized rate as open interest declined across five major crypto assets in a snapshot taken at 7:04 p.m. ET Oct. 12 (23:04 UTC), showing mixed positioning across leading crypto assets. Bitcoin’s funding rate was 0.0084% every eight hours, while open interest fell 0.67% over 24 hours to $7.67 billion. Long accounts represented 59.5% of the market, compared with 40.5% for short accounts. Bitcoin’s mark price was $82,122. A positive rate transfers periodic payments from long-account holders to short-account holders.

Source: TokenPost