Funding rate regime
Leverage sentiment by regime — 30-day average & percentile, not per-second data. Source: Bybit perps.
Line = daily average funding (%). Red = longs pay shorts, green = shorts pay longs.
FAQ
What is a funding rate?
Funding is a periodic fee (usually every 8h) exchanged between longs and shorts on perpetual contracts. Positive funding = longs pay shorts (market leans long). Negative = shorts pay longs (leans short). It is a leverage-sentiment indicator, not a price.
What does "funding regime" mean?
Instead of per-second funding, we compute the 30-day average and percentile per coin: is funding currently unusually high/low versus its own history? Useful for medium/long-horizon positioning, not scalping.
What is it good for?
Sustained high positive funding + extremes = crowded longs (long-squeeze risk). Deep negative funding = crowded shorts (short-squeeze risk). The 30-day percentile shows how "hot" the current level is.
See also: Exclusive metrics · Black-market USD