Daily close and perpetual volume across tracked exchanges
Smart contracts on Bitcoin are the pitch behind Stacks, a network that anchors its blocks to the Bitcoin chain. Its consensus, Proof of Transfer, has miners spend BTC to produce Stacks blocks, and STX holders who lock their tokens earn that BTC. Perps on STX give traders a leveraged way to express views on Bitcoin-based DeFi, or to hedge STX that is locked up for stacking.
STX trades as a high-beta bet on the Bitcoin ecosystem. Interest in Bitcoin programmability, adoption of the sBTC bridge that brings bitcoin onto Stacks, and the BTC price itself move it. Binance leads perp volume by a wide margin, while Bybit holds a large share of open interest. When BTC rallies and STX funding rises faster than BTC funding, leverage is chasing the Bitcoin layer theme.
STX funding rates STX open interest STX liquidations STX long/short ratio
Every tracked STX perpetual market
| # | Exchange | Price | 24h | Volume 24h | Open interest | OI 24h | Funding 8h | L/S | Liq. 24h | ±1% depth | Trade |
|---|
Share of total · 24h change
Last 24h · long vs short
Last 4h · buy share of taker volume
Live answers use data from every tracked STX perpetual markets · updated
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Stacks is a blockchain that adds smart contracts to Bitcoin, using its own Clarity language. Its blocks are anchored to Bitcoin, and its Proof of Transfer consensus links the two chains. STX pays fees on Stacks and can be stacked to earn BTC rewards.
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Stacking is locking STX to help secure the Stacks network in return for BTC rewards. The BTC comes from miners, who spend it to win the right to produce Stacks blocks. Locked STX cannot be sold during a cycle, so some holders use STX perps to hedge price risk.
sBTC is a token on Stacks backed one to one by bitcoin, designed to let BTC move onto Stacks and be used in its DeFi applications. Its adoption is one of the main project-specific drivers that STX traders follow, alongside the price of BTC itself.
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Stacks describes itself as a Bitcoin layer, since its transactions settle to Bitcoin and its rewards are paid in BTC. It has its own token and block producers, so some argue it sits between a layer 2 and a sidechain. For traders, STX tends to react to news about the wider Bitcoin ecosystem.
STX perpetual futures are derivatives contracts that track the price of STX 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 STX.
Funding is a payment between longs and shorts. When STX 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.
Compare venues, fees and features on the best perpetual exchanges page.
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.
Data from tracked centralised and decentralised exchanges, refreshed every few minutes. Not financial advice. Methodology