Market pulse
The three numbers a disciplined trader checks before anything else: price, the 24-hour move, and what the crowd is paying to stay long.
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Longs pay shorts — crowd leans long
Shorts pay longs — crowd leans short
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A ratio of 1.30 means 57% of accounts are long and 43% short. Retail accounts are usually net long; when top traders lean the other way, the crowd is the one paying funding. Context, not a signal — open interest explained.
How to read this page in 30 seconds
Price and the 24h move tell you the weather. Funding tells you the crowd: near 0.01% per 8h is neutral baseline; sustained readings several times that mean longs are paying heavily to hold — historically the raw material of liquidation cascades. Estimate what holding through several funding payments costs with the funding calculator, and never enter without the pre-trade checklist.