Magic Eden (ME) Perpetual Futures

– 24h · perp mark price

24h volume – vs prior 24h Open interest – · Funding rate (OI-weighted, 8h) – annualised Long / short ratio (24h) – long Liquidations (24h) – longs OI / market cap – Market cap –

Magic Eden price and derivatives history

Daily close and perpetual volume across tracked exchanges

Magic Eden perpetual futures market

Magic Eden is a multi-chain NFT marketplace that started on Solana and expanded to Bitcoin Ordinals, Ethereum and other networks. ME is its token, launched on Solana in late 2024 and tied to rewards across the platform. Perps let traders take a leveraged view on NFT and Ordinals activity, or short the token without borrowing it.

Marketplace activity sets the direction. Rising NFT and Ordinals trading lifts fee revenue and attention, while quiet periods weigh on the token. Supply unlocks for the team and investors add pressure on top. Binance leads volume, followed by BingX, OKX and Bybit, and liquidity drops off quickly after that. Read open interest changes alongside price, since thin markets can see OI swing faster than spot.

ME funding rates ME open interest ME liquidations ME long/short ratio

Ticker: ME
Asset class: Crypto
Tracked markets: –
Most active venue: –
Funding intervals: –
Trading hours: 24/7
±1% order book depth: –

Magic Eden perpetual markets by exchange

Every tracked ME perpetual market

#	Exchange	Price	24h	Volume 24h	Open interest	OI 24h	Funding 8h	L/S	Liq. 24h	±1% depth	Trade

Open interest by exchange

Share of total · 24h change

All OI

Liquidations by exchange

Last 24h · long vs short

All liquidations

Taker buy vs sell

Last 4h · buy share of taker volume

Long/short data

Magic Eden perpetual futures FAQ

Live answers use data from every tracked ME perpetual markets · updated –

What is the ME funding rate today?

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How much ME open interest is there?

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What is Magic Eden?

Magic Eden is a marketplace for buying and selling NFTs across several blockchains, including Solana, Bitcoin, Ethereum and Polygon. It became one of the leading venues for Solana NFTs and Bitcoin Ordinals. ME is the platform's token, distributed partly through an airdrop to users.

What is ME perpetual futures trading volume?

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Are traders long or short ME right now?

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What drives the ME price?

NFT and Ordinals trading volume drives ME more than broad market moves on many days. Higher activity means more fees and more users earning rewards, which supports demand. Token unlocks, new product launches and changes to how ME is used on the platform also matter.

Is ME linked to Bitcoin Ordinals?

Yes, indirectly. Magic Eden is a major marketplace for Bitcoin Ordinals and Runes, so Ordinals activity feeds into its business and into sentiment around the token. ME itself is a Solana token, so it does not live on the Bitcoin network.

How much ME was liquidated in the last 24 hours?

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How liquid are ME perps?

ME perps are a small market with liquidity concentrated on a few exchanges, led by Binance. Order books thin out fast beyond the top venues, so larger orders can cause slippage and liquidations can move price more than on large caps. Check depth and spreads before sizing up.

What are ME perpetual futures?

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

How does ME funding work?

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

Where can I trade ME perpetuals?

Compare venues, fees and features on the best perpetual exchanges page.

Should I long or short ME?

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.