Maple Finance (SYRUP) Perpetual Futures

The open-interest-weighted SYRUP funding rate is +0.0066% per 8 hours, or +7.27% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0089% on Gate to +0.1931% on Kraken. Compare all funding rates.

SYRUP perpetual open interest is $28.22M (135.19M SYRUP), up 0.16% in 24 hours. Binance holds the most at $6.92M. That is 11.50% of Maple Finance's market cap.

Maple Finance is a decentralised lending protocol that connects lenders with institutional borrowers. Lenders deposit stablecoins into pools such as syrupUSDC and earn yield from loans that Maple underwrites and secures with collateral. SYRUP is the token used for governance and staking.

Maple Finance perps traded $28.01M in the last 24 hours, -28.21% on the day before. Binance leads with 27%, followed by BingX ($6.57M) and WhiteBIT ($5.79M).

Over the last 24 hours 51.2% of accounts are long and 48.8% short, a long/short ratio of 1.05. See the long/short ratio by exchange.

MPL was Maple's original token. Holders migrated to SYRUP at a fixed ratio of 100 SYRUP per MPL, which created a larger supply at a lower unit price. Older MPL price history needs adjusting for that conversion when it is compared with SYRUP.

syrupUSDC is a yield-bearing deposit token issued by Maple. Users deposit USDC, receive syrupUSDC, and earn interest from the loans Maple makes to institutional borrowers. Its growth is a common gauge of demand for Maple's lending business.

$13.7K of SYRUP positions were liquidated in 24 hours, $13.3K longs and $406 shorts. Binance saw the most at $5.0K. See liquidations across the market.

Credit risk is the main one. If a borrower defaults and collateral falls short, lenders take losses and confidence in the token can drop. Maple saw defaults in 2022 after the FTX collapse, which led it to tighten lending standards. Smart contract and regulatory risks also apply.

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

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

SYRUP perps trade on 11 tracked exchanges. By volume the largest are Binance, BingX and WhiteBIT. 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.