BTC futures
Futures let traders take leveraged positions on BTC. The funding rate and the basis show which side is paying to hold them: positive values mean longs pay a premium, negative values mean shorts do. Data is from Deribit.
Perpetual contracts
A perpetual has no expiry; the funding rate keeps its price close to the index. Deribit charges no funding while the price stays within a narrow band around the index, so a rate of zero is common.
| Contract | Price | Funding, 8h | Annualised | Premium to index | Open interest | 24h volume |
|---|---|---|---|---|---|---|
| BTC-PERPETUAL | $68,868 | +0.0003% | +0.32% | +0.014% | $719.20M | $2.77B |
| BTC_USDC-PERPETUAL | $68,872 | +0.0014% | +1.48% | +0.017% | $171.93M | $3.91B |
Funding rate history
Hourly average funding rate over the last 7 days, annualised. Spikes show when leveraged longs (above zero) or shorts (below zero) were crowded.
Futures basis by expiry
The basis is how far a dated future trades above (or below) the index. Annualised, it is the yield the market pays for holding BTC exposure until that date.
Annualised basis, BTC-margined futures
| Expiry | In | Contract | Price | Basis | Annualised | Open interest | 24h volume |
|---|---|---|---|---|---|---|---|
| 14 Nov 2026 | 23h | BTC-14NOV26 | $68,864 | +0.01% | — | $2.12M | $3.70M |
| 14 Nov 2026 | 23h | BTC_USDC-14NOV26 | $68,864 | +0.01% | — | $441.7K | $197.9K |
| 15 Nov 2026 | 2d | BTC-15NOV26 | $68,872 | +0.02% | +3.50% | $1.06M | $1.74M |
| 15 Nov 2026 | 2d | BTC_USDC-15NOV26 | $68,872 | +0.02% | +3.16% | $310.7K | $134.4K |
| 16 Nov 2026 | 3d | BTC-16NOV26 | $68,880 | +0.03% | +3.76% | $908.0K | $1.49M |
| 16 Nov 2026 | 3d | BTC_USDC-16NOV26 | $68,880 | +0.03% | +3.53% | $299.5K | $486.3K |
| 17 Nov 2026 | 4d | BTC-17NOV26 | $68,886 | +0.04% | +3.58% | $0.0 | $5,990 |
| 17 Nov 2026 | 4d | BTC_USDC-17NOV26 | $68,886 | +0.04% | +3.42% | $0.0 | $5,827 |
| 20 Nov 2026 | 7d | BTC-20NOV26 | $68,930 | +0.10% | +5.43% | $8.34M | $6.45M |
| 20 Nov 2026 | 7d | BTC_USDC-20NOV26 | $68,930 | +0.10% | +5.33% | $399.9K | $306.7K |
| 27 Nov 2026 | 14d | BTC-27NOV26 | $69,023 | +0.24% | +6.22% | $67.49M | $15.50M |
| 27 Nov 2026 | 14d | BTC_USDC-27NOV26 | $69,023 | +0.24% | +6.18% | $3.01M | $1.10M |
| 4 Dec 2026 | 21d | BTC-4DEC26 | $69,076 | +0.32% | +5.49% | $1.15M | $3.95M |
| 25 Dec 2026 | 42d | BTC-25DEC26 | $69,284 | +0.62% | +5.36% | $267.63M | $15.48M |
| 25 Dec 2026 | 42d | BTC_USDC-25DEC26 | $69,284 | +0.61% | +5.35% | $1.42M | $327.7K |
| 29 Jan 2027 | 77d | BTC-29JAN27 | $69,655 | +1.16% | +5.49% | $8.02M | $4.29M |
| 26 Mar 2027 | 133d | BTC-26MAR27 | $70,272 | +2.05% | +5.63% | $102.70M | $5.56M |
| 26 Mar 2027 | 133d | BTC_USDC-26MAR27 | $70,272 | +2.05% | +5.63% | $277.4K | $418.8K |
| 25 Jun 2027 | 224d | BTC-25JUN27 | $71,276 | +3.51% | +5.72% | $69.29M | $5.96M |
| 24 Sep 2027 | 315d | BTC-24SEP27 | $72,308 | +5.01% | +5.81% | $13.32M | $2.55M |
BTC-margined USDC-margined
Futures open interest
Total open interest across all BTC futures on Deribit over the last 7 days, in US dollars. Rising open interest means new positions are being opened.
Updated 13 Nov 2026, 09:03 UTC.
This data shows where the positions are. It does not say where the price gets stuck.
That takes one more step: turning the positions into a ceiling, a balance point and a floor. Subscribers get the three numbers for every expiry.
Open the desk for $15- Ceiling
- 00,000
- Balance
- 00,000
- Floor
- 00,000
Market data collected from the public APIs of Deribit, Bybit, OKX and Binance. For information only, not financial advice.