How crowded and one-sided is the perpetual futures market right now? A 0-100 gauge built from real cross-exchange funding rates — not your position, the whole market.
| Coin | Avg funding /8h | Annualized | Direction |
|---|---|---|---|
| Loading… | |||
The index blends two signals from real funding rates on BTC, ETH, SOL, XRP, BNB and DOGE, averaged across every exchange RektCalc's cross-exchange funding feed tracks for that coin: crowding magnitude (65% weight) — the mean absolute annualized funding rate across the six, capped at 60% APR = 100 points — and directional consensus (35% weight) — how many of the six majors are paying the same direction, scored 0 at an even 3-3 split up to 100 when all six agree. The final score is round(0.65 × magnitude + 0.35 × consensus), both shown live above so the math is checkable, not a black box.
High funding means traders are paying a premium to hold a crowded side, which has historically made sharp unwinds more likely when that crowding reverses — it's a positioning gauge, not a price prediction. Pair it with your own trade's numbers on the Rekt Risk Score before sizing a position.
A 0-100 gauge of how crowded and one-sided crypto perpetual futures are right now, built from real cross-exchange funding rates on 6 majors. Higher means more traders are leaning the same direction and paying more to hold that position.
65% average annualized funding magnitude (capped at 60% APR) + 35% directional consensus across the six majors. The exact numbers feeding it are shown live on this page.
No — this is an independent, transparently documented RektCalc formula built from our own cross-exchange funding data, not a copy of any third-party index.
No — it means positioning is crowded and expensive to hold, which has historically made sharp moves more likely when that crowding unwinds. It's a crowding gauge, not a prediction.