Ripple
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Track XRP perpetual futures long/short ratio across Binance, Bybit, OKX, Deribit, Hyperliquid.
Sharpe Terminal aggregates XRP (XRP) 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.
XRP has one of the largest retail-driven perpetual markets in crypto, with aggregate OI frequently exceeding $3-5B during legal-catalyst-driven rallies (notably the July 2023 Ripple vs. SEC partial win and the November 2024 post-election rally that took OI above $7B). XRP perp liquidity is concentrated on Binance, Bybit, and OKX with a sizeable Asian retail bid via Bitget and HTX. XRP funding is structurally volatile because positioning is news-driven rather than structural — funding can spike to 200%+ APR during catalyst windows and collapse to negative within 48 hours. Long/short ratios skew heavily long almost permanently (>2.0 on retail venues), which makes XRP one of the most reliable contrarian setups when funding over-extends.
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.