Bitcoin Funding Turns Negative as Open Interest Falls Across Five Assets

Bitcoin’s perpetual futures funding rate turned negative as open interest declined across five major crypto assets, while long accounts outnumbered short accounts in each market at 2:24 a.m. ET (06:24 UTC) Oct. 14. Bitcoin (BTC) funding was -0.0009% every eight hours, equivalent to -1.0% annualized. Its mark price was $83,498, and open interest stood at $7.67 billion, down 1.72% over 24 hours. Long accounts made up 56.1% of the total, compared with 43.9% short. Funding rates are periodic payments between traders in perpetual futures.