Long-position traders were on the paying side of positive funding across five crypto markets on Nov. 3, while XRP posted the group’s largest open-interest increase at 20.88%.
The 6:01 a.m. ET (11:01 UTC) reading put XRP open interest at $423.8 million, up 20.88% in 24 hours, with a mark price of $1.26. Open interest tracks the value of derivatives contracts that remain open.
The eight-hour funding rate was 0.0100% for XRP, Bitcoin (BTC) and Solana (SOL), equivalent to 10.9% annualized. Ether (ETH) registered 0.0089%, or 9.8% annualized, while Dogecoin (DOGE) was at 0.0071%, or 7.8%. Positive funding assigns the periodic payment to long-position holders, with short-position holders receiving it.
Open interest increased 3.65% for BTC to $7.73 billion and 3.40% for DOGE to $204.1 million. Ether fell 0.69% to $5.34 billion, and SOL declined 0.52% to $867.8 million.
Long accounts represented 72.2% of XRP accounts. The share was 72.9% for BTC and DOGE, 71.8% for ETH and 75.8% for SOL.
A Nov. 2 five-asset snapshot put XRP open interest at $350.6 million, up 1.77% over 24 hours.
