Compound Finance (COMP) Perpetual Futures

The open-interest-weighted COMP funding rate is +0.0065% per 8 hours, or +7.11% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0010% on Kraken to +0.0100% on BingX. Compare all funding rates.

COMP perpetual open interest is $18.80M (839,825 COMP), down 2.59% in 24 hours. Bybit holds the most at $4.00M. That is 8.42% of Compound Finance's market cap.

Compound is a decentralised lending protocol on Ethereum and several other networks. Users supply assets to earn interest and borrow other assets against collateral, with rates set by supply and demand. Its latest version, Compound III, organises lending around a single borrowable asset in each market.

Compound Finance perps traded $16.78M in the last 24 hours, -23.74% on the day before. BingX leads with 31%, followed by Binance ($4.20M) and WhiteBIT ($2.43M).

Over the last 24 hours 42.3% of accounts are long and 57.7% short, a long/short ratio of 0.73. See the long/short ratio by exchange.

COMP gives holders voting power over Compound's governance, including risk parameters, asset listings and use of the treasury. Holders can vote directly or delegate their votes to others. The token has also been distributed to users as an incentive for supplying and borrowing.

COMP's launch in June 2020 started the trend of liquidity mining, where protocols reward users with governance tokens for using them. Its distribution helped spark the boom known as DeFi summer. Many later protocols copied the model.

$6.2K of COMP positions were liquidated in 24 hours, $4.9K longs and $1.3K shorts. OKX saw the most at $10.3K. See liquidations across the market.

Lending activity on Compound, governance decisions and overall DeFi sentiment are the main drivers. Large governance proposals involving the treasury or token distribution have caused sharp moves before. Because perp liquidity is thinner than for major coins, funding can swing quickly when traders crowd one side.

COMP perpetual futures are derivatives contracts that track the price of COMP and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any COMP.

Funding is a payment between longs and shorts. When COMP perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

COMP perps trade on 11 tracked exchanges. By volume the largest are BingX, Binance and WhiteBIT. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.