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M live: funding rate, open interest, liquidations & volume spikes

M trades on 6 exchanges tracked by Volume Monitor (Binance, Bitget, Bybit, Gate, KuCoin and MEXC) across 6 perpetual futures markets (no spot market). The last price is 1.213 USDT on Binance (+2.94% in the last hour), and 24h volume is $5.26M. Perpetual open interest totals $10.76M. The OI-weighted funding rate is 0.0441% per 8h (≈48% APR), so longs pay shorts. $1,141 of M positions were liquidated on Binance, Bybit, Bitget, Gate and HTX in the last 5 hours (since tracking began), 100% longs and 0% shorts. No M volume spikes were flagged since the server started.

Tracking for ~5h Updates every 5 s HistoryMarketsLong/shortSpikesLiquidations

PriceBinance perp
1.213
1h +2.94% 24h —
24h volumespot + perp
$5.26M
Perp $5.26MSpot $0
Open interest6 perps
$10.76M
1h — 24h —
Funding, 8hOI-weighted
0.0441%
≈48% APRlongs pay shorts
Liquidations 24hpartial
$1,141
Longs $1,142Shorts $0
Volume spikes 24hpartial
0
Net spike flow$0

M open interest, funding and liquidations history

From recorded history, hourly

M open interest is up 40.8% since 13:15 UTC on 27 Sep, from $6.66M to $9.38M. M funding has averaged 0.0345% per 8 hours since 13:15 UTC on 27 Sep (≈38% APR), positive in 100% of hourly readings, so longs mostly paid shorts. $1,142 of M positions were liquidated since 13:15 UTC on 27 Sep: $1,142 longs (100.0%) and $0 shorts.

M price

Chart: TradingView Lightweight Charts™

M open interest

All perps, USD

Chart: TradingView Lightweight Charts™

M funding rate

OI-weighted, 8h

Chart: TradingView Lightweight Charts™

M liquidations

Longs up, shorts down

Chart: TradingView Lightweight Charts™

M CVD and taker flow

Spot vs perp, from range start · bars: net taker buys

Chart: TradingView Lightweight Charts™

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 1.213 +2.94% — $1.10M 0.0177% $4.94M +3.18% +2.00% — Trade
Bybit perp MUSDT 1.214 +2.71% — $625K 0.0722% $1.87M +1.88% -0.82% — Trade
Bitget perp MUSDT 1.214 +3.01% — $404K 0.0868% $1.64M +2.76% — — Trade
KuCoin perp MUSDTM 1.214 — — $2.62M 0.0824% $1.18M — — — Trade
Gate perp M_USDT 1.211 +2.96% — $411K 0.0100% $920K +3.29% — — Trade
MEXC perp M_USDT 1.213 — — $97K 0.0176% $209K — — — Trade

Price and OI changes appear once the server has enough history: it records 5-minute snapshots since its last restart (~5h 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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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 →

Spikes on record0

No M volume spikes since the server started ~5h ago. A spike is a minute with at least 4× normal volume; new ones appear here live.

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.