Market Snapshot: ETH/USDT, BTC/USDT, and SOL/USDT Dominate USD-M Perpetual Futures Trading Over 24 Hours

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USD-M perpetual futures markets reveal compelling long/short dynamics across major trading pairs. ETH/USDT continues to show bullish positioning with a long/short ratio of 3.51 against a 0.0064% funding rate, while BTC/USDT maintains a 2.22 ratio paired with a 0.0071% funding rate—both indicators suggesting sustained demand for long positions.

SOL/USDT demonstrates the strongest bullish sentiment with a 4.46 long/short ratio, though its lower 0.0035% funding rate indicates more balanced conditions. In contrast, ZEC/USDT flips the script entirely with a 0.49 ratio and a negative -0.2223% funding rate, signaling pronounced short dominance and potential bearish pressure. XRP/USDT sits between these extremes at a 2.84 long/short ratio with a near-neutral -0.0006% funding rate.

These long/short images reveal a market split between risk-on sentiment in layer-one solutions and caution in other segments. The trading volume concentration in these five pairs—ETH/USDT, BTC/USDT, SOL/USDT, ZEC/USDT, and XRP/USDT—underscores their role as market bellwethers. Traders monitoring these perpetual futures metrics gain crucial insight into whether the broader market tilts toward accumulation or distribution across different asset classes.

ETH1.76%
BTC1.63%
SOL2.53%
ZEC2.09%
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