Dogecoin
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Sentiment
Track Dogecoin perpetual futures long/short ratio across Binance, Bybit, OKX, Deribit, Hyperliquid.
Sharpe Terminal aggregates Dogecoin (DOGE) perpetual futures long/short ratio data from Binance, Bybit, OKX, Deribit, Hyperliquid and eight additional exchanges into a single real-time chart. Compare exchange-level breakdowns, overlay price, and switch between 1W, 1M, 3M, 1Y and 3Y historical windows. Ratio of accounts holding long vs. short perpetual futures positions by exchange. Derivatives traders use this view to confirm trend strength, spot crowded positioning, and pinpoint liquidation cascades before they ripple into spot.
Dogecoin (DOGE) is the oldest and most mainstream memecoin, with a perpetual futures market that routinely sees $2-4B in aggregate OI during retail-driven cycles. DOGE perps are listed on every major venue and are a go-to vehicle for retail leverage because of low dollar-notional tick size. DOGE OI peaked near $5B during the April 2021 Musk-driven rally and again in late 2024 post-election. Funding on DOGE is the most volatile of any top-20 perp — 300%+ APR single-day prints are routine during mania phases. DOGE is the cleanest read on pure retail speculation: when DOGE funding decouples from BTC funding to the upside, crypto is in late-cycle euphoria. Long liquidation cascades on DOGE are severe because position sizing is almost universally oversized.
The long/short ratio compares either the number of accounts or the position size of accounts holding longs vs. shorts on a given exchange. A ratio above 1.0 means more accounts (or size) are long than short; below 1.0 means the opposite. Retail-oriented venues (Binance, Bybit, Bitget) typically run structurally long — ratios of 2-4x long are normal even in sideways markets, because retail default-buys. Institutional venues (CME, OKX top-traders) fluctuate around 1.0. Extreme readings act as contrarian indicators: retail piling into longs above 3x historically precedes corrections, while crowding into shorts below 0.7x sets up squeezes.
Compare retail-account ratios to top-trader ratios on OKX or Binance — divergence between the two is the cleanest smart-money-vs-dumb-money signal in crypto derivatives. When top traders are flat or short while retail is aggressively long, fade the retail side. Watch for inflection points where the ratio flips from growing to shrinking — these are often earlier than price signals. Stack long/short by exchange to identify venue-specific crowding.