Funding Rate Regime Score

Weighted composite 0–100 score from 8 major perpetual futures markets. Higher = crowded longs; lower = crowded shorts.

Market Positioning
Balanced
▼ 2 pts from 24h ago

Funding rates are near zero across major perps — neither side is paying a significant premium. This neutral state suggests positioning is not stretched; it often appears during consolidation or early trend development.

30-Day Regime History
← Short-Heavy (below 40)Long-Heavy (above 60) →
Per-Asset Breakdown
AssetRate (8h)ScoreWeight
BTC+0.0100%6035%
ETH+0.0100%6020%
SOL+0.0100%6010%
BNB0.0000%508%
XRP+0.0100%608%
DOGE+0.0100%607%
ADA+0.0100%606%
AVAX+0.0100%606%

Score = tanh-normalized rate per asset, weighted by approximate market cap rank. Rate is the 8-hour funding rate paid by longs (positive) or shorts (negative).

How the Score Works

80–100 — Extreme Long
Deeply crowded longs; high funding cost
60–80 — Long-Heavy
Longs paying premium; elevated carry cost
40–60 — Balanced
Near-zero funding; no strong bias
20–40 — Short-Heavy
Shorts paying longs; squeeze potential
0–20 — Extreme Short
Has historically coincided with relief rallies

Funding rates are the periodic payments between longs and shorts in perpetual futures markets. When longs outnumber shorts, they pay a positive funding rate to shorts — and vice versa. Aggregate funding across major markets provides a real-time read on crowd positioning, not price prediction. High positive funding has historically coincided with elevated liquidation risk for longs; deeply negative funding with short-squeeze setups. This is context, not a call.

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Frequently asked questions

What is the Funding Rate Regime Score?
The Funding Rate Regime Score is a weighted composite reading, scored 0 to 100, that synthesizes perpetual futures funding rates across eight major crypto markets — Bitcoin, Ethereum, Solana, BNB, XRP, Dogecoin, Cardano, and Avalanche — into a single positioning gauge. A score near 0 indicates crowded short positioning across the group; a score near 100 indicates crowded long positioning. It reduces eight separate funding readings to one number describing leverage positioning across the derivatives market at a glance.
How is the Funding Rate Regime Score calculated?
The score weights each of the eight tracked assets' 8-hour perpetual funding rate by its approximate market-cap rank, then applies a tanh normalization so one outsized reading in a smaller asset cannot dominate the composite. Positive funding rates push the score toward 100 — longs paying a premium to hold — and negative funding rates push it toward 0, where shorts are paying to hold. Liquid State recalculates the composite roughly every 30 minutes from public exchange data.
What do the five zones on the Funding Rate Regime Score mean?
Liquid State groups the composite into five bands: 80 to 100 is Extreme Long, where funding across major perpetuals is deeply positive; 60 to 80 is Long-Heavy; 40 to 60 is Balanced, where funding is near zero and positioning is not stretched; 20 to 40 is Short-Heavy; and 0 to 20 is Extreme Short, where shorts are paying an unusually high premium to hold. The zone labels describe current positioning only, not a forecast of what happens next.
Is the Funding Rate Regime Score a trading signal?
No. The score describes current crowd positioning across major perpetual futures markets, not a prediction of where price will move next. Extreme readings in either direction have historically coincided with elevated risk of a liquidation-driven squeeze against the crowded side, but crowded positioning can persist for extended periods without one. Liquid State computes the score from Binance's public futures API and republishes it free, for educational and market-monitoring purposes rather than as trading advice.
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