Polkadot (DOT) Perpetual Futures

The open-interest-weighted DOT funding rate is +0.0005% per 8 hours, or +0.54% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0133% on Gate to +0.0100% on KuCoin. Compare all funding rates.

DOT perpetual open interest is $226.13M (218.56M DOT), up 1.26% in 24 hours. Binance holds the most at $37.19M. That is 12.77% of Polkadot's market cap.

Polkadot is a layer 1 blockchain designed to let many specialised chains run in parallel under shared security. The relay chain coordinates consensus, while connected chains handle their own logic. DOT is staked to secure the network through nominated proof of stake and is used to vote in on-chain governance.

Polkadot perps traded $136.49M in the last 24 hours, -32.26% on the day before. Binance leads with 32%, followed by BingX ($14.83M) and MEXC ($10.93M).

Over the last 24 hours 45.6% of accounts are long and 54.4% short, a long/short ratio of 0.84. See the long/short ratio by exchange.

A staker can open a short of the same size to offset price exposure while still earning staking rewards. The return on this delta-neutral position depends on the staking yield minus any funding paid on the short. Unbonding DOT takes weeks, so a perps hedge is far quicker to put on and remove.

Polkadot 2.0 is the name for a set of upgrades that replaced parachain slot auctions with coretime, where projects buy blockspace as they need it. It also added asynchronous backing and elastic scaling to raise throughput. The aim is to make the network's capacity cheaper and more flexible to use.

$245.2K of DOT positions were liquidated in 24 hours, $232.4K longs and $12.8K shorts. Binance saw the most at $161.6K. See liquidations across the market.

Polkadot was conceived by Gavin Wood, an Ethereum co-founder who wrote the Ethereum Yellow Paper. Development has been led by Parity Technologies and the Web3 Foundation, which raised funds through a DOT token sale in 2017 before the network went live in 2020.

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

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

DOT perps trade on 13 tracked exchanges. By volume the largest are Binance, BingX and MEXC. 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.