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SOL perpetual funding hits 11-month high near $1.8 billion open interest
Aggregated SOL perpetual open interest is near $1.8 billion, and DeFi metrics show stablecoin and DEX activity down over the past week.
CryptoSlate reports that aggregated funding on Solana (SOL) perpetual futures has risen to its highest level since September 2025, using Velo data as the basis. The piece links the build-up to positive funding across major venues, meaning leveraged long traders are paying to keep perpetual prices aligned with spot.
According to the coverage, Solana futures open interest is around $1.8 billion, equivalent to roughly 23.1 million SOL in notional exposure at current prices. Most major trading platforms are showing positive funding near 0.01% every eight hours, a level the outlet says last appeared when SOL traded above $200.
The article frames the key risk as whether market convictions are supported by underlying activity. It notes SOL is pressing into the upper $70s, with $80 described as the first resistance area, while failure back toward the low $70s would weaken the recovery structure.
On-chain and DeFi indicators cited include $4.8 billion in total value locked, $15.6 billion in stablecoins, and 2.05 million active addresses over the past 24 hours, alongside $1.21 billion in DEX volume. Over the week, stablecoin market cap is down 0.65%, DEX volume is down 5.69%, and on-chain perpetual volume is down nearly 27%, with Solana stablecoin base remaining below a roughly $17 billion peak from March, per the report.
Latest closeSolana $76.56 ▲0.8%