Dogecoin (DOGE) Perpetual Futures

The open-interest-weighted DOGE funding rate is +0.0007% per 8 hours, or +0.77% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0103% on Bybit to +0.0109% on Crypto.com. Compare all funding rates.

DOGE perpetual open interest is $1.14B (14.74B DOGE), down 0.75% in 24 hours. Binance holds the most at $265.26M. That is 8.55% of Dogecoin's market cap.

Dogecoin is a proof-of-work cryptocurrency created in 2013 by Billy Markus and Jackson Palmer, based on the Shiba Inu dog meme. It began as a parody of bitcoin but grew a large community that uses it for tipping and payments. It is the oldest and largest memecoin by market value.

Dogecoin perps traded $641.79M in the last 24 hours, -45.81% on the day before. Binance leads with 31%, followed by OKX ($124.59M) and Gate ($75.03M).

Over the last 24 hours 46.9% of accounts are long and 53.1% short, a long/short ratio of 0.88. See the long/short ratio by exchange.

No. Dogecoin has no supply cap and adds 10,000 new DOGE with each block, which comes to roughly five billion coins a year. Because the yearly amount is fixed, inflation as a percentage of total supply falls slowly over time.

Elon Musk has promoted Dogecoin publicly for years, and his posts reach a large audience of retail traders who act on them quickly. Leveraged traders often pile into perps within minutes, which can push funding and open interest up fast and leave the move exposed to a sharp reversal.

$438.3K of DOGE positions were liquidated in 24 hours, $262.1K longs and $176.2K shorts. Binance saw the most at $395.6K. See where liquidations cluster.

DOGE draws a large retail base that prefers to go long with leverage, so longs often outnumber shorts when the price climbs. Longs then pay shorts through the funding rate, and the cost of holding a leveraged long can rise quickly during a hype cycle.

DOGE perpetual futures are derivatives contracts that track the price of DOGE 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 DOGE.

Funding is a payment between longs and shorts. When DOGE 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.

DOGE perps trade on 13 tracked exchanges. By volume the largest are Binance, OKX and Gate. 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.