Hidden Two-Way Funding
A near-zero OI-weighted funding rate can hide substantial transfers in opposite directions. Inspect the quoted exposure on each venue before choosing where to hold a position.
Coverage and selection
29 matching coins · 50 coins examined out of 497 with eligible OI. Selected coverage: 237 venue legs · $36.70B OI.
Within the selected top 50: 1 have fewer than two venues; 21 lack both funding signs; 1 have gross exposure below $1,000 / 8h. These counts can overlap.
Excluded market rows before ranking: Excluded OI: 592 · HIP-3 / non-native: 163 · OI below $1M: 1518 · Stale funding / OI: 99 · Unsupported identity / venue: 1492 · Unsupported quote / inverse: 80.
Only Binance, Bybit, Gate and Bitget USDT perps and native Hyperliquid USD perps. Each leg requires OI ≥ $1M and finite, current funding and OI. Excludes HIP-3, inverse contracts, excluded-OI venues or rows, ambiguous duplicate venue/base contracts or symbols, and stale funding/OI flags.
Select the top 50 coins by eligible OI first (ties by coin), then require at least two venues, both funding signs and gross exposure ≥ $1,000 / 8h. Rank by cancellation descending, then gross exposure descending, then coin. No extra coins replace filtered top-50 members.
Opposing quoted exposures
USD / 8h equivalent| Coin | Cancellation | Longs → shorts (L) | Shorts → longs (S) | Gross (G) | Signed net (N) | Eligible OI | OI-weighted / 8h |
|---|---|---|---|---|---|---|---|
| FIL | 96.30% | $2,388 | $2,217 | $4,605 | $170 | $85.35M | 0.0002% |
| LINK | 88.60% | $4,944 | $3,932 | $8,877 | $1,012 | $216.79M | 0.0005% |
| ENA | 84.21% | $7,855 | $5,713 | $14K | $2,142 | $221.38M | 0.0010% |
| BCH | 81.99% | $1,948 | $2,804 | $4,752 | -$856 | $131.89M | -0.0006% |
| SUI | 79.17% | $5,859 | $8,943 | $15K | -$3,084 | $245.49M | -0.0013% |
| LIT | 72.98% | $7,606 | $4,370 | $12K | $3,236 | $138.36M | 0.0023% |
| DOT | 69.99% | $1,471 | $2,733 | $4,204 | -$1,262 | $75.44M | -0.0017% |
| INJ | 58.23% | $3,542 | $1,455 | $4,996 | $2,087 | $57.01M | 0.0037% |
| ADA | 54.43% | $2,416 | $6,460 | $8,875 | -$4,044 | $162.95M | -0.0025% |
| SOL | 50.42% | $13K | $39K | $52K | -$26K | $2.05B | -0.0013% |
| PEPE | 47.97% | $4,759 | $15K | $20K | -$10K | $204.74M | -0.0050% |
| XLM | 44.16% | $2,374 | $673 | $3,046 | $1,701 | $81.70M | 0.0021% |
| AVAX | 43.03% | $1,139 | $4,156 | $5,296 | -$3,017 | $162.59M | -0.0019% |
| ONDO | 34.69% | $8,732 | $1,833 | $11K | $6,900 | $113.61M | 0.0061% |
| PENGU | 34.15% | $918 | $4,455 | $5,373 | -$3,538 | $56.13M | -0.0063% |
| WLD | 26.16% | $3,091 | $21K | $24K | -$17K | $176.43M | -0.0099% |
| AAVE | 24.32% | $6,805 | $942 | $7,748 | $5,863 | $143.87M | 0.0041% |
| HBAR | 23.95% | $3,038 | $413 | $3,451 | $2,624 | $73.36M | 0.0036% |
| DOGE | 17.70% | $16K | $1,549 | $17K | $14K | $446.85M | 0.0032% |
| HYPE | 15.95% | $86K | $7,464 | $94K | $79K | $1.47B | 0.0053% |
| UNI | 12.02% | $14K | $867 | $14K | $13K | $256.24M | 0.0050% |
| NEAR | 11.32% | $34K | $2,054 | $36K | $32K | $576.35M | 0.0056% |
| TAO | 9.56% | $5,849 | $294 | $6,142 | $5,555 | $131.56M | 0.0042% |
| AERO | 8.33% | $5,429 | $236 | $5,665 | $5,193 | $65.03M | 0.0080% |
| XPL | 8.12% | $5,915 | $250 | $6,165 | $5,664 | $81.42M | 0.0070% |
| CRV | 6.94% | $3,918 | $141 | $4,058 | $3,777 | $58.01M | 0.0065% |
| WLFI | 6.67% | $16K | $563 | $17K | $16K | $181.27M | 0.0087% |
| GRAM | 3.18% | $314 | $19K | $20K | -$19K | $61.99M | -0.0308% |
| GRASS | 1.19% | $4,805 | $28.75 | $4,834 | $4,777 | $49.49M | 0.0097% |
Positive net points toward longs paying shorts; negative net toward shorts paying longs. Net combines different venues and does not net any individual trader’s payments.
FIL venue legs 5 venues · 96.30% cancellation
Largest opposing contributors: Binance FILUSDT (longs → shorts, $1,873) and Gate FIL_USDT (shorts → longs, $954).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance FILUSDT | $51.36M | 0.0036% | $1,873 | Longs → shorts |
| Gate FIL_USDT | $17.04M | -0.0056% | -$954 | Shorts → longs |
| Hyperliquid FIL | $4.75M | -0.0144% | -$687 | Shorts → longs |
| Bybit FILUSDT | $7.05M | -0.0082% | -$577 | Shorts → longs |
| Bitget FILUSDT | $5.15M | 0.0100% | $515 | Longs → shorts |
LINK venue legs 5 venues · 88.60% cancellation
Largest opposing contributors: Hyperliquid LINK (longs → shorts, $2,692) and Bybit LINKUSDT (shorts → longs, $1,627).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid LINK | $26.92M | 0.0100% | $2,692 | Longs → shorts |
| Binance LINKUSDT | $91.18M | 0.0025% | $2,252 | Longs → shorts |
| Bybit LINKUSDT | $31.00M | -0.0052% | -$1,627 | Shorts → longs |
| Gate LINK_USDT | $46.56M | -0.0030% | -$1,397 | Shorts → longs |
| Bitget LINKUSDT | $21.14M | -0.0043% | -$909 | Shorts → longs |
ENA venue legs 5 venues · 84.21% cancellation
Largest opposing contributors: Hyperliquid ENA (longs → shorts, $4,359) and Binance ENAUSDT (shorts → longs, $4,717).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance ENAUSDT | $91.74M | -0.0051% | -$4,717 | Shorts → longs |
| Hyperliquid ENA | $43.59M | 0.0100% | $4,359 | Longs → shorts |
| Bybit ENAUSDT | $34.97M | 0.0100% | $3,497 | Longs → shorts |
| Gate ENA_USDT | $32.97M | -0.0028% | -$923 | Shorts → longs |
| Bitget ENAUSDT | $18.12M | -0.0004% | -$72.47 | Shorts → longs |
BCH venue legs 5 venues · 81.99% cancellation
Largest opposing contributors: Binance BCHUSDT (longs → shorts, $986) and Gate BCH_USDT (shorts → longs, $2,183).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Gate BCH_USDT | $24.53M | -0.0089% | -$2,183 | Shorts → longs |
| Binance BCHUSDT | $77.87M | 0.0013% | $986 | Longs → shorts |
| Bitget BCHUSDT | $9.62M | 0.0100% | $962 | Longs → shorts |
| Bybit BCHUSDT | $15.82M | -0.0034% | -$546 | Shorts → longs |
| Hyperliquid BCH | $4.05M | -0.0018% | -$74.70 | Shorts → longs |
SUI venue legs 5 venues · 79.17% cancellation
Largest opposing contributors: Binance SUIUSDT (longs → shorts, $4,383) and Gate SUI_USDT (shorts → longs, $5,833).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Gate SUI_USDT | $58.92M | -0.0099% | -$5,833 | Shorts → longs |
| Binance SUIUSDT | $101.32M | 0.0043% | $4,383 | Longs → shorts |
| Hyperliquid SUI | $21.03M | -0.0074% | -$1,559 | Shorts → longs |
| Bitget SUIUSDT | $25.42M | -0.0061% | -$1,551 | Shorts → longs |
| Bybit SUIUSDT | $38.80M | 0.0038% | $1,476 | Longs → shorts |
LIT venue legs 5 venues · 72.98% cancellation
Largest opposing contributors: Hyperliquid LIT (longs → shorts, $5,657) and Binance LITUSDT (shorts → longs, $3,044).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid LIT | $56.57M | 0.0100% | $5,657 | Longs → shorts |
| Binance LITUSDT | $52.50M | -0.0058% | -$3,044 | Shorts → longs |
| Bybit LITUSDT | $17.79M | 0.0100% | $1,779 | Longs → shorts |
| Gate LIT_USDT | $9.47M | -0.0140% | -$1,326 | Shorts → longs |
| Bitget LITUSDT | $2.02M | 0.0084% | $170 | Longs → shorts |
DOT venue legs 5 venues · 69.99% cancellation
Largest opposing contributors: Bitget DOTUSDT (longs → shorts, $980) and Gate DOT_USDT (shorts → longs, $1,899).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Gate DOT_USDT | $17.91M | -0.0106% | -$1,899 | Shorts → longs |
| Bitget DOTUSDT | $9.80M | 0.0100% | $980 | Longs → shorts |
| Binance DOTUSDT | $33.58M | -0.0025% | -$834 | Shorts → longs |
| Hyperliquid DOT | $2.77M | 0.0100% | $277 | Longs → shorts |
| Bybit DOTUSDT | $11.38M | 0.0019% | $214 | Longs → shorts |
INJ venue legs 5 venues · 58.23% cancellation
Largest opposing contributors: Binance INJUSDT (longs → shorts, $2,471) and Gate INJ_USDT (shorts → longs, $949).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance INJUSDT | $25.57M | 0.0097% | $2,471 | Longs → shorts |
| Gate INJ_USDT | $12.16M | -0.0078% | -$949 | Shorts → longs |
| Bitget INJUSDT | $6.97M | 0.0100% | $697 | Longs → shorts |
| Bybit INJUSDT | $8.58M | -0.0059% | -$506 | Shorts → longs |
| Hyperliquid INJ | $3.73M | 0.0100% | $373 | Longs → shorts |
ADA venue legs 5 venues · 54.43% cancellation
Largest opposing contributors: Bybit ADAUSDT (longs → shorts, $2,416) and Gate ADA_USDT (shorts → longs, $5,169).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Gate ADA_USDT | $35.65M | -0.0145% | -$5,169 | Shorts → longs |
| Bybit ADAUSDT | $25.28M | 0.0096% | $2,416 | Longs → shorts |
| Bitget ADAUSDT | $19.87M | -0.0029% | -$576 | Shorts → longs |
| Binance ADAUSDT | $67.56M | -0.0007% | -$478 | Shorts → longs |
| Hyperliquid ADA | $14.59M | -0.0016% | -$237 | Shorts → longs |
SOL venue legs 5 venues · 50.42% cancellation
Largest opposing contributors: Hyperliquid SOL (longs → shorts, $13K) and Gate SOL_USDT (shorts → longs, $13K).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Gate SOL_USDT | $408.67M | -0.0033% | -$13K | Shorts → longs |
| Bybit SOLUSDT | $298.85M | -0.0045% | -$13K | Shorts → longs |
| Hyperliquid SOL | $277.32M | 0.0047% | $13K | Longs → shorts |
| Bitget SOLUSDT | $208.81M | -0.0034% | -$7,099 | Shorts → longs |
| Binance SOLUSDT | $854.47M | -0.0005% | -$4,623 | Shorts → longs |
PEPE venue legs 5 venues · 47.97% cancellation
Largest opposing contributors: Bybit 1000PEPEUSDT (longs → shorts, $2,766) and Gate PEPE_USDT (shorts → longs, $9,172).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Gate PEPE_USDT | $54.27M | -0.0169% | -$9,172 | Shorts → longs |
| Bitget PEPEUSDT | $17.76M | -0.0295% | -$5,240 | Shorts → longs |
| Bybit 1000PEPEUSDT | $27.66M | 0.0100% | $2,766 | Longs → shorts |
| Binance 1000PEPEUSDT | $86.11M | 0.0023% | $1,993 | Longs → shorts |
| Hyperliquid kPEPE | $18.93M | -0.0035% | -$669 | Shorts → longs |
XLM venue legs 5 venues · 44.16% cancellation
Largest opposing contributors: Bybit XLMUSDT (longs → shorts, $1,839) and Gate XLM_USDT (shorts → longs, $562).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Bybit XLMUSDT | $18.39M | 0.0100% | $1,839 | Longs → shorts |
| Gate XLM_USDT | $12.48M | -0.0045% | -$562 | Shorts → longs |
| Binance XLMUSDT | $34.93M | 0.0014% | $485 | Longs → shorts |
| Hyperliquid XLM | $5.98M | -0.0019% | -$111 | Shorts → longs |
| Bitget XLMUSDT | $9.92M | 0.0005% | $49.61 | Longs → shorts |
AVAX venue legs 5 venues · 43.03% cancellation
Largest opposing contributors: Bybit AVAXUSDT (longs → shorts, $835) and Binance AVAXUSDT (shorts → longs, $2,803).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance AVAXUSDT | $85.31M | -0.0033% | -$2,803 | Shorts → longs |
| Gate AVAX_USDT | $27.26M | -0.0037% | -$1,009 | Shorts → longs |
| Bybit AVAXUSDT | $29.00M | 0.0029% | $835 | Longs → shorts |
| Hyperliquid AVAX | $8.84M | -0.0039% | -$345 | Shorts → longs |
| Bitget AVAXUSDT | $12.17M | 0.0025% | $304 | Longs → shorts |
ONDO venue legs 5 venues · 34.69% cancellation
Largest opposing contributors: Binance ONDOUSDT (longs → shorts, $3,659) and Hyperliquid ONDO (shorts → longs, $1,833).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance ONDOUSDT | $47.78M | 0.0077% | $3,659 | Longs → shorts |
| Bybit ONDOUSDT | $24.90M | 0.0100% | $2,490 | Longs → shorts |
| Gate ONDO_USDT | $18.74M | 0.0100% | $1,874 | Longs → shorts |
| Hyperliquid ONDO | $10.76M | -0.0170% | -$1,833 | Shorts → longs |
| Bitget ONDOUSDT | $11.44M | 0.0062% | $709 | Longs → shorts |
PENGU venue legs 5 venues · 34.15% cancellation
Largest opposing contributors: Bitget PENGUUSDT (longs → shorts, $466) and Binance PENGUUSDT (shorts → longs, $4,418).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance PENGUUSDT | $31.19M | -0.0142% | -$4,418 | Shorts → longs |
| Bitget PENGUUSDT | $4.66M | 0.0100% | $466 | Longs → shorts |
| Hyperliquid PENGU | $3.20M | 0.0100% | $320 | Longs → shorts |
| Bybit PENGUUSDT | $7.70M | 0.0017% | $131 | Longs → shorts |
| Gate PENGU_USDT | $9.37M | -0.0004% | -$37.47 | Shorts → longs |
WLD venue legs 5 venues · 26.16% cancellation
Largest opposing contributors: Bitget WLDUSDT (longs → shorts, $1,691) and Hyperliquid WLD (shorts → longs, $18K).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid WLD | $32.81M | -0.0563% | -$18K | Shorts → longs |
| Bitget WLDUSDT | $16.91M | 0.0100% | $1,691 | Longs → shorts |
| Gate WLD_USDT | $20.89M | 0.0067% | $1,400 | Longs → shorts |
| Bybit WLDUSDT | $29.29M | -0.0041% | -$1,195 | Shorts → longs |
| Binance WLDUSDT | $76.53M | -0.0011% | -$879 | Shorts → longs |
AAVE venue legs 5 venues · 24.32% cancellation
Largest opposing contributors: Hyperliquid AAVE (longs → shorts, $2,610) and Gate AAVE_USDT (shorts → longs, $942).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid AAVE | $26.10M | 0.0100% | $2,610 | Longs → shorts |
| Bybit AAVEUSDT | $23.92M | 0.0100% | $2,392 | Longs → shorts |
| Bitget AAVEUSDT | $12.94M | 0.0100% | $1,294 | Longs → shorts |
| Gate AAVE_USDT | $27.71M | -0.0034% | -$942 | Shorts → longs |
| Binance AAVEUSDT | $53.21M | 0.0010% | $510 | Longs → shorts |
HBAR venue legs 5 venues · 23.95% cancellation
Largest opposing contributors: Binance HBARUSDT (longs → shorts, $1,742) and Bybit HBARUSDT (shorts → longs, $413).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance HBARUSDT | $33.22M | 0.0052% | $1,742 | Longs → shorts |
| Bitget HBARUSDT | $8.55M | 0.0078% | $667 | Longs → shorts |
| Hyperliquid HBAR | $5.86M | 0.0100% | $586 | Longs → shorts |
| Bybit HBARUSDT | $14.92M | -0.0028% | -$413 | Shorts → longs |
| Gate HBAR_USDT | $10.82M | 0.0004% | $43.30 | Longs → shorts |
DOGE venue legs 5 venues · 17.70% cancellation
Largest opposing contributors: Binance DOGEUSDT (longs → shorts, $8,812) and Bitget DOGEUSDT (shorts → longs, $1,549).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance DOGEUSDT | $208.47M | 0.0042% | $8,812 | Longs → shorts |
| Gate DOGE_USDT | $97.14M | 0.0037% | $3,594 | Longs → shorts |
| Bybit DOGEUSDT | $53.32M | 0.0052% | $2,763 | Longs → shorts |
| Bitget DOGEUSDT | $48.39M | -0.0032% | -$1,549 | Shorts → longs |
| Hyperliquid DOGE | $39.52M | 0.0020% | $775 | Longs → shorts |
HYPE venue legs 5 venues · 15.95% cancellation
Largest opposing contributors: Hyperliquid HYPE (longs → shorts, $80K) and Bitget HYPEUSDT (shorts → longs, $6,488).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid HYPE | $798.73M | 0.0100% | $80K | Longs → shorts |
| Bitget HYPEUSDT | $83.18M | -0.0078% | -$6,488 | Shorts → longs |
| Binance HYPEUSDT | $313.57M | 0.0015% | $4,816 | Longs → shorts |
| Bybit HYPEUSDT | $115.96M | 0.0012% | $1,412 | Longs → shorts |
| Gate HYPE_USDT | $162.55M | -0.0006% | -$975 | Shorts → longs |
UNI venue legs 5 venues · 12.02% cancellation
Largest opposing contributors: Binance UNIUSDT (longs → shorts, $7,565) and Gate UNI_USDT (shorts → longs, $867).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance UNIUSDT | $144.15M | 0.0052% | $7,565 | Longs → shorts |
| Hyperliquid UNI | $34.26M | 0.0100% | $3,426 | Longs → shorts |
| Bybit UNIUSDT | $27.10M | 0.0059% | $1,611 | Longs → shorts |
| Bitget UNIUSDT | $13.04M | 0.0074% | $965 | Longs → shorts |
| Gate UNI_USDT | $37.70M | -0.0023% | -$867 | Shorts → longs |
NEAR venue legs 5 venues · 11.32% cancellation
Largest opposing contributors: Hyperliquid NEAR (longs → shorts, $13K) and Bitget NEARUSDT (shorts → longs, $2,054).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid NEAR | $131.66M | 0.0100% | $13K | Longs → shorts |
| Gate NEAR_USDT | $92.33M | 0.0100% | $9,233 | Longs → shorts |
| Bybit NEARUSDT | $84.20M | 0.0100% | $8,420 | Longs → shorts |
| Binance NEARUSDT | $231.48M | 0.0015% | $3,412 | Longs → shorts |
| Bitget NEARUSDT | $36.68M | -0.0056% | -$2,054 | Shorts → longs |
TAO venue legs 5 venues · 9.56% cancellation
Largest opposing contributors: Hyperliquid TAO (longs → shorts, $1,916) and Bitget TAOUSDT (shorts → longs, $294).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid TAO | $19.16M | 0.0100% | $1,916 | Longs → shorts |
| Bybit TAOUSDT | $15.85M | 0.0100% | $1,585 | Longs → shorts |
| Gate TAO_USDT | $21.09M | 0.0060% | $1,265 | Longs → shorts |
| Binance TAOUSDT | $63.23M | 0.0017% | $1,082 | Longs → shorts |
| Bitget TAOUSDT | $12.23M | -0.0024% | -$294 | Shorts → longs |
AERO venue legs 5 venues · 8.33% cancellation
Largest opposing contributors: Binance AEROUSDT (longs → shorts, $3,340) and Gate AERO_USDT (shorts → longs, $236).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance AEROUSDT | $33.40M | 0.0100% | $3,340 | Longs → shorts |
| Hyperliquid AERO | $12.69M | 0.0100% | $1,269 | Longs → shorts |
| Bybit AEROUSDT | $8.24M | 0.0080% | $658 | Longs → shorts |
| Gate AERO_USDT | $9.07M | -0.0026% | -$236 | Shorts → longs |
| Bitget AEROUSDT | $1.62M | 0.0100% | $162 | Longs → shorts |
XPL venue legs 5 venues · 8.12% cancellation
Largest opposing contributors: Binance XPLUSDT (longs → shorts, $2,516) and Bybit XPLUSDT (shorts → longs, $250).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance XPLUSDT | $33.66M | 0.0075% | $2,516 | Longs → shorts |
| Hyperliquid XPL | $25.02M | 0.0100% | $2,502 | Longs → shorts |
| Gate XPL_USDT | $7.84M | 0.0070% | $549 | Longs → shorts |
| Bitget XPLUSDT | $3.48M | 0.0100% | $348 | Longs → shorts |
| Bybit XPLUSDT | $11.42M | -0.0022% | -$250 | Shorts → longs |
CRV venue legs 5 venues · 6.94% cancellation
Largest opposing contributors: Binance CRVUSDT (longs → shorts, $1,978) and Bybit CRVUSDT (shorts → longs, $141).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance CRVUSDT | $25.17M | 0.0079% | $1,978 | Longs → shorts |
| Hyperliquid CRV | $9.86M | 0.0100% | $986 | Longs → shorts |
| Gate CRV_USDT | $6.85M | 0.0100% | $685 | Longs → shorts |
| Bitget CRVUSDT | $2.68M | 0.0100% | $268 | Longs → shorts |
| Bybit CRVUSDT | $13.45M | -0.0010% | -$141 | Shorts → longs |
WLFI venue legs 5 venues · 6.67% cancellation
Largest opposing contributors: Binance WLFIUSDT (longs → shorts, $15K) and Hyperliquid WLFI (shorts → longs, $402).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Binance WLFIUSDT | $152.05M | 0.0100% | $15K | Longs → shorts |
| Bybit WLFIUSDT | $10.85M | 0.0100% | $1,085 | Longs → shorts |
| Hyperliquid WLFI | $5.89M | -0.0068% | -$402 | Shorts → longs |
| Bitget WLFIUSDT | $3.22M | -0.0050% | -$161 | Shorts → longs |
| Gate WLFI_USDT | $9.26M | 0.0002% | $18.52 | Longs → shorts |
GRAM venue legs 5 venues · 3.18% cancellation
Largest opposing contributors: Bitget GRAMUSDT (longs → shorts, $314) and Bybit GRAMUSDT (shorts → longs, $7,563).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Bybit GRAMUSDT | $13.26M | -0.0570% | -$7,563 | Shorts → longs |
| Hyperliquid GRAM | $12.10M | -0.0583% | -$7,059 | Shorts → longs |
| Gate GRAM_USDT | $11.48M | -0.0252% | -$2,892 | Shorts → longs |
| Binance GRAMUSDT | $22.01M | -0.0086% | -$1,892 | Shorts → longs |
| Bitget GRAMUSDT | $3.14M | 0.0100% | $314 | Longs → shorts |
GRASS venue legs 5 venues · 1.19% cancellation
Largest opposing contributors: Hyperliquid GRASS (longs → shorts, $1,596) and Gate GRASS_USDT (shorts → longs, $28.75).
| Venue / native symbol | OI (USD) | Quote / 8h | Signed exposure / 8h | Direction |
|---|---|---|---|---|
| Hyperliquid GRASS | $15.96M | 0.0100% | $1,596 | Longs → shorts |
| Binance GRASSUSDT | $15.59M | 0.0100% | $1,559 | Longs → shorts |
| Bybit GRASSUSDT | $12.86M | 0.0100% | $1,286 | Longs → shorts |
| Bitget GRASSUSDT | $3.65M | 0.0100% | $365 | Longs → shorts |
| Gate GRASS_USDT | $1.44M | -0.0020% | -$28.75 | Shorts → longs |
Method and interpretation
For eligible USD open interest OI and signed 8h funding fraction f: L = Σ OI × max(f, 0); S = Σ OI × max(−f, 0); G = L + S; N = L − S. Cancellation = 1 − |N| / G. OI-weighted funding = N / Σ OI. USD OI needs no contract-price multiplier; funding is already normalized to 8 hours, so it is not normalized again.
Illustrative fixed-OI example: two $10M legs at +0.1% and −0.1% / 8h give L = S = $10,000, G = $20,000, N = $0 and 100% cancellation, while the OI-weighted rate is 0%.
These are indicative fixed-OI, fixed-quote transfer exposures, not paid cashflows. Native settlement times and intervals differ across venues; rates and OI change before settlement. Positive quotes imply longs pay shorts; negative quotes imply shorts pay longs. Transfers are bilateral between traders, not exchange revenue, capital leaving the market, realized profit, a crowding probability or guaranteed payments.
The dated server snapshot above is the source snapshot time in UTC, not each field’s observation or settlement time. Its age is checked on every render and must be at most 120 seconds; stale funding/OI flags are also excluded. USDT and native HL USD notionals are compared as USD equivalents; stablecoin and venue risks remain.