M markets: funding rate & open interest by exchange
Funding as 8h equivalent (hover for APR) · OI changes need history| Market | Price | 1h | 24h | 24h volume | Funding 8h | Open interest | OI 1h | OI 4h | OI 24h | Trade |
|---|---|---|---|---|---|---|---|---|---|---|
| Binance perp MUSDT | 1.171 | +1.04% | — | $1.01M | 0.0184% | $4.77M | +1.43% | — | — | Trade |
| Bybit perp MUSDT | 1.172 | +1.27% | — | $455K | 0.0100% | $1.83M | +0.81% | — | — | Trade |
| Bitget perp MUSDT | 1.172 | +1.36% | — | $348K | 0.0432% | $1.58M | -0.39% | — | — | Trade |
| KuCoin perp MUSDTM | 1.171 | — | — | $2.59M | 0.0100% | $1.14M | — | — | — | Trade |
| Gate perp M_USDT | 1.170 | — | — | $384K | 0.0100% | $885K | — | — | — | Trade |
| MEXC perp M_USDT | 1.172 | — | — | $95K | 0.0192% | $195K | — | — | — | Trade |
Price and OI changes appear once the server has enough history: it records 5-minute snapshots since its last restart (~3h ago), so 1h values fill in after an hour and 24h values after a day. Trade links go to the exchange and may be referral links.
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M long/short ratio
All coins' long/short ratios →Long/short ratios are tracked for the top 100 perpetuals by volume on Binance and Bybit. M is not among them right now. See the coins that are tracked →
M volume spikes
See live spikes for all coins →No M volume spikes since the server started ~3h ago. A spike is a minute with at least 4× normal volume; new ones appear here live.
| Time | Venue | Type | Side | $ in 1m | × normal | Buy % | +5m | +15m | +1h |
|---|
Newest first, up to 100. +5m / +15m / +1h show the price change after each spike and fill in as time passes. They describe the past, not a prediction.
M liquidations: long vs short
All liquidations →M perps trade only on Hyperliquid, which does not publish a liquidation feed.
About the M numbers
M funding rate
Perpetual futures have no expiry, so exchanges keep their price close to spot with periodic funding payments between longs and shorts. A positive M funding rate means longs pay shorts (more demand for leveraged longs); negative means shorts pay longs. Rates here are converted to an 8-hour equivalent so exchanges with 1h, 4h and 8h intervals compare directly, and the headline figure is weighted by each exchange's open interest.
M open interest
Open interest is the USD value of all open M perpetual positions. Rising OI alongside a price move means new positions are opening; falling OI means positions are closing (including liquidations). OI changes are measured from 5-minute snapshots.
M liquidations
A liquidation is a leveraged position the exchange closed by force. Long liquidations are forced sells that hit when price drops; short liquidations are forced buys when price rises. The long/short split shows which side was caught.
M volume spikes
A spike is a minute where one M market traded at least 4× its normal minute volume, with a size floor. Buy % is the share of taker buys. The +5m / +15m / +1h columns show what price did afterwards. They are history, not a signal. Not financial advice.