Coin Metrics is pleased to introduce a comprehensive set of funding rate metrics for perpetual futures contracts.
Perpetual futures contracts are one of the dominant derivatives used in crypto markets, and the funding rates that futures traders take on hold important information. Beyond indicating potential profits and losses that traders will be exposed to by holding a position in a contract, funding rates quantify the overall sentiment of the market on future direction of token prices. Coin Metrics already offers funding rates data for individual futures markets, callable for a given exchange and contract. Information on this can be found in our Data Encyclopedia here.
Like the broader crypto market, futures markets are fragmented. Different exchanges with similar contract structures regularly list different funding rates paid out over different intervals. The method by which exchanges calculate the funding rate also differs across exchanges. Aggregating these funding rates across exchanges is thus an involved calculation requiring several transformations. To serve this use case, Coin Metrics now calculates several funding rates metrics for assets which represent the aggregation of multiple futures markets across several exchanges.
Where Can I Get the Data?
The new funding rate metrics are served through our /timeseries/asset-metrics and /timeseries/exchange-asset-metrics endpoints.
Which Metrics are Available?
We released the two sets of metrics: (1) a set of aggregated funding rate which represent the average funding rate weighted by open interest from perpetual futures markets grouped by different margin assets and converted to a specified time period, and (2) the cumulative average funding rate that would be accumulated by contract holders over a specified time period.
For example, our futures_aggregate_funding_rate_usd_margin_1y_period metric represents the average funding rate weighted by open interest from perpetual markets where the margin currency is in U.S. dollars or stablecoins and the funding rate is converted to a 1 year rate. And our futures_cumulative_funding_rate_coin_margin_30d metric represents the cumulative average funding rate weighted by open interest from futures markets where the margin asset is equivalent to the underlying base asset over the previous 30 day period.
The full list of metrics is below:
- futures_aggregate_funding_rate_usd_margin_8h_period
- futures_aggregate_funding_rate_usd_margin_8h_period
- futures_aggregate_funding_rate_usd_margin_30d_period
- futures_aggregate_funding_rate_usd_margin_1y_period
- futures_aggregate_funding_rate_coin_margin_8h_period
- futures_aggregate_funding_rate_coin_margin_1d_period
- futures_aggregate_funding_rate_coin_margin_30d_period
- futures_aggregate_funding_rate_coin_margin_1y_period
- futures_aggregate_funding_rate_all_margin_8h_period
- futures_aggregate_funding_rate_all_margin_1d_period
- futures_aggregate_funding_rate_all_margin_30d_period
- futures_aggregate_funding_rate_all_margin_1y_period
- futures_cumulative_funding_rate_usd_margin_1d
- futures_cumulative_funding_rate_usd_margin_7d
- futures_cumulative_funding_rate_usd_margin_30d
- futures_cumulative_funding_rate_coin_margin_1d
- futures_cumulative_funding_rate_coin_margin_7d
- futures_cumulative_funding_rate_coin_margin_30d
- futures_cumulative_funding_rate_all_margin_1d
- futures_cumulative_funding_rate_all_margin_7d
- futures_cumulative_funding_rate_all_margin_30d
How are the Metrics Calculated?
The methodology that we use to calculate our metrics can be found in the Aggregated Futures Funding Rate and Cumulative Futures Funding Rate pages in our Data Encyclopedia.
About CM Market Data Feed
CM Market Data Feed is a comprehensive data solution for institutional investors, traders, and researchers seeking to gain insights into the cryptocurrency markets. Our data is harmonized to a standardized format, making it easy to compare and analyze across multiple cryptocurrencies and exchanges. Additionally, we offer historical datasets that are hard to find elsewhere, providing users with a deep understanding of the evolution of the crypto markets.
Our market data collection systems are engineered to be resilient and robust, ensuring that users have access to accurate and reliable data at all times. We utilize a multifaceted approach to ensure high levels of data quality and data integrity to deliver the most accurate and complete data available.
The CM Market Data Feed includes a range of datasets such as price data, volume, and other key trading metrics, that enable users to utilize our resilient infrastructure to save on development costs, make informed investment decisions, and conduct research on the cryptocurrency markets. Customizable data feeds and flexible pricing options make the CM Market Data Feed a versatile and cost-effective solution for users of all sizes, from large financial institutions to crypto-native investment funds.
Coin Metrics is committed to providing the most accurate and reliable data in the industry. Please contact Coin Metrics through our website or at [email protected] for more information.
