Solana (SOL) Perpetual Futures

The open-interest-weighted SOL funding rate is +0.0047% per 8 hours, or +5.17% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0278% on HTX to +0.0188% on Kraken. Compare all funding rates.

SOL perpetual open interest is $6.22B (61.13M SOL), down 1.70% in 24 hours. Binance holds the most at $1.06B. That is 10.37% of Solana's market cap.

Solana is a layer 1 blockchain designed for high throughput and low transaction costs. SOL is its native token, used for fees and for staking with the validators who produce blocks. The network is home to a large share of decentralised exchange and memecoin trading.

Solana perps traded $3.81B in the last 24 hours, -34.95% on the day before. Binance leads with 27%, followed by OKX ($489.54M) and MEXC ($363.73M).

Over the last 24 hours 50.3% of accounts are long and 49.7% short, a long/short ratio of 1.01. Taker volume over the last 4 hours is 54.6% buy and 45.4% sell. See the long/short ratio by exchange.

SOL has a smaller market cap and a holder base that leans towards active traders, so it reacts more sharply to shifts in risk appetite. Activity on the network also feeds back into the price, which means memecoin booms and slowdowns can exaggerate both rallies and drawdowns.

A large share of new memecoins launch on Solana, and buyers need SOL to take part. Busy memecoin periods tend to raise spot demand for SOL and push perp funding higher as traders add leveraged longs. Quiet periods often see funding drift back towards neutral.

$3.93M of SOL positions were liquidated in 24 hours, $1.31M longs and $2.62M shorts. Binance saw the most at $2.49M. See where liquidations cluster.

Yes. Holders can short SOL perps against staked tokens to keep the staking yield while offsetting price moves. The short pays or receives the funding rate, so the return of the hedge depends on staking yield plus or minus funding while the position is open.

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

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

SOL perps trade on 14 tracked exchanges. By volume the largest are Binance, OKX 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.