Cross-Exchange Funding Rates

The 8-hour perpetual funding rate for every tracked market, aggregated across the exchanges that list it. A positive rate means longs are paying shorts: the crowd is positioned long and paying to stay there. A negative rate means the reverse.

Funding extremes and liquidation clusters are the same story told twice. When one side is paying heavily to hold a position, that side is also the one with liquidation levels stacked behind it — which is what makes a squeeze self-reinforcing once price starts moving against the crowd.