ETH futures
Futures let traders take leveraged positions on ETH. 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 |
|---|---|---|---|---|---|---|
| ETH-PERPETUAL | $1,938 | +0.0023% | +2.52% | −0.014% | $267.20M | $250.93M |
| ETH_USDC-PERPETUAL | $1,938 | +0.0014% | +1.53% | −0.005% | $59.13M | $2.39B |
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 ETH exposure until that date.
Annualised basis, ETH-margined futures
| Expiry | In | Contract | Price | Basis | Annualised | Open interest | 24h volume |
|---|---|---|---|---|---|---|---|
| 14 Nov 2026 | 23h | ETH-14NOV26 | $1,938 | −0.02% | — | $1.15M | $5.36M |
| 14 Nov 2026 | 23h | ETH_USDC-14NOV26 | $1,938 | −0.02% | — | $556.3K | $679.9K |
| 15 Nov 2026 | 2d | ETH-15NOV26 | $1,938 | −0.01% | −1.45% | $843.3K | $2.41M |
| 15 Nov 2026 | 2d | ETH_USDC-15NOV26 | $1,938 | −0.01% | −1.45% | $480.3K | $653.9K |
| 16 Nov 2026 | 3d | ETH-16NOV26 | $1,938 | +0.01% | +0.96% | $708.9K | $2.03M |
| 16 Nov 2026 | 3d | ETH_USDC-16NOV26 | $1,938 | +0.01% | +0.96% | $321.7K | $953.4K |
| 17 Nov 2026 | 4d | ETH-17NOV26 | $1,939 | +0.02% | +2.10% | $0.0 | $15.3K |
| 17 Nov 2026 | 4d | ETH_USDC-17NOV26 | $1,939 | +0.02% | +2.10% | $0.0 | $0.0 |
| 20 Nov 2026 | 7d | ETH-20NOV26 | $1,940 | +0.07% | +3.57% | $4.98M | $1.65M |
| 20 Nov 2026 | 7d | ETH_USDC-20NOV26 | $1,940 | +0.07% | +3.57% | $837.1K | $254.6K |
| 27 Nov 2026 | 14d | ETH-27NOV26 | $1,941 | +0.15% | +3.86% | $26.40M | $6.96M |
| 27 Nov 2026 | 14d | ETH_USDC-27NOV26 | $1,941 | +0.15% | +3.86% | $751.1K | $564.4K |
| 4 Dec 2026 | 21d | ETH-4DEC26 | $1,942 | +0.21% | +3.73% | $213.1K | $556.4K |
| 25 Dec 2026 | 42d | ETH-25DEC26 | $1,947 | +0.46% | +4.01% | $78.92M | $2.22M |
| 25 Dec 2026 | 42d | ETH_USDC-25DEC26 | $1,947 | +0.46% | +4.01% | $1.21M | $505.1K |
| 29 Jan 2027 | 77d | ETH-29JAN27 | $1,956 | +0.91% | +4.31% | $2.92M | $4.15M |
| 26 Mar 2027 | 133d | ETH-26MAR27 | $1,969 | +1.58% | +4.34% | $30.51M | $2.35M |
| 26 Mar 2027 | 133d | ETH_USDC-26MAR27 | $1,969 | +1.58% | +4.34% | $456.8K | $127.2K |
| 25 Jun 2027 | 224d | ETH-25JUN27 | $1,995 | +2.90% | +4.73% | $17.39M | $237.8K |
| 24 Sep 2027 | 315d | ETH-24SEP27 | $2,021 | +4.25% | +4.93% | $12.50M | $1.18M |
ETH-margined USDC-margined
Futures open interest
Total open interest across all ETH 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.