BTC $74,306 
EQQQQ $655.75 Last updated 8 Nov 2026, 12:03 UTC
ETH $2,091 
MGLOEURO $111,813 
USDT $0.9991 
BNB $687.10 
USDC $0.9996 
XRP $1.08 
SOL $84.73 
TRX $0.3186 Markets · Explained
XRP funding rates hit one-year high on Binance as spot ETFs shed $10.4M
Leveraged traders on Binance are still leaning long even as XRP suffers a 30% correction and regulated funds see redemptions.
Key takeaways
- Derivatives vs. funds. Binance perpetual futures traders remain positioned for gains while spot ETF investors withdrew about $10.4 million.
- Historical pattern. Darkfost notes that strongly positive funding has previously clustered near XRP price peaks and negative readings near lows.
- Price context. XRP traded near $1.08, down about 13% over seven days, according to CoinGecko.
What happened
XRP's 30-day cumulative funding rate on Binance has risen to roughly 0.18%, a level not recorded since October 2025, CryptoQuant analyst Darkfost said in a November 10 assessment. The reading arrives while the token is working through a correction that has erased about 30% of its value, and while US spot XRP exchange-traded funds logged approximately $10.4 million in net withdrawals, equivalent to 9.37 million XRP.
The analyst described the ETF session as one of the weakest this year for the products. The outflows stand in contrast with positioning in Binance's perpetual futures market, where traders have kept favoring long exposure despite the price decline.
Funding payments flow between long and short holders to keep perpetual contracts anchored near spot prices. When the rate is positive, longs typically pay shorts, which indicates that more traders are betting on upside. On November 10, one market tracker showed an individual Binance funding rate of about 0.0068% per eight hours, meaning long holders were still paying to hold their positions.
First $1.41Latest $1.08-23.5% over the period
Points are daily observations, not closing prices.
Why it matters
The two data points describe different parts of the market. Funding rates track leveraged derivatives positioning, while ETF flows reflect money moving into or out of regulated investment products. Neither measure alone dictates where the price goes next, but together they show a split between futures traders and fund investors.
Darkfost cautioned that crowded positioning on one side can leave traders exposed when prices move the other way. In his reading of the historical chart, stretches of strongly positive funding have tended to appear around XRP price tops, while deeply negative readings have shown up near market bottoms. He added that the pattern does not confirm another reversal is coming. He also said funding rates and ETF flows are both worth watching when weighing possible entry points, particularly because derivatives sentiment can stay bullish after prices have already started falling.
What the data shows
CoinGecko listed XRP at $1.08, down 0.86% over 24 hours and 13.03% over seven days, with 24-hour trading volume of about $2.08 billion. The token had recovered toward $1.30 in early November after losing nearly 16% in October, and traded near $1.27 on November 4, having started the month around $1.25.
On the ETF side, the $10.4 million withdrawal followed an uneven October. US spot XRP funds ended a 13-week inflow streak with $1.84 million in net redemptions during the October 12, 16 trading week, yet still attracted $18.83 million over the full month. The first trading session of November brought about $529,510 in outflows before the larger redemptions reported by Darkfost.
The 30-day cumulative figure differs from a single settlement-period fee because it adds up multiple funding payments over the preceding month. Earlier in 2026, the same measure fell below negative 0.20% by March, with another stretch of deeply negative funding between May and July.
Background
XRP's cumulative funding rate has recovered substantially since mid-2026, when bearish sentiment dominated the derivatives market. The token had earlier rebounded 53% after falling to about $0.70 during the summer, and funding sentiment improved as that rally progressed, with the sharpest shift coming after XRP had already gained considerably. Darkfost pointed to October 2025 as the previous occasion when the indicator reached a comparable level, several months after XRP set a record high of $3.55; by then the token had already pulled back from that peak, though bullish positioning stayed elevated.
What to watch
Traders are likely to compare the next funding readings with ETF flow data to see whether the two measures move closer together or stay at odds. A continued slide in price alongside persistent positive funding would keep leveraged longs exposed, while a shift toward negative funding would suggest derivatives sentiment is turning. The reports also noted commentary from trader BangXBT, who described the pullback as a possible accumulation zone and cited $0.9763 and $0.6732 as personal observation levels rather than confirmed support or forecasts.
Questions readers ask
What does a 0.18% cumulative funding rate mean?
It is the rolling 30-day sum of XRP perpetual futures funding on Binance. A positive figure means long positions have generally been paying shorts, a sign that leveraged traders lean bullish.
Why are ETF outflows notable alongside high funding?
They point to weaker demand through regulated products at the same time futures traders keep bullish exposure, a divergence between two different segments of the market.
Does high funding predict a price drop?
No. Darkfost said extreme readings can signal crowded positioning, and that similar levels previously appeared near price peaks, but the pattern does not establish that another reversal will occur.
