Bitcoin funding rate, in context.
Bitcoin is the benchmark our whole engine measures against, so it gets no IOX score. But its perpetual funding — the fee traders pay to hold leverage — has been recorded since 2019, and that’s worth a plain, honest read. Here’s where Bitcoin’s leverage sits right now versus its own history.
Why Bitcoin has no IOX score
Everything Ioxer does is relative to Bitcoin. The signal we’ve validated is “which coins are crowded versus the rest of the field” — and the field’s yardstick is Bitcoin itself. You can’t rank the yardstick against itself, so Bitcoin sits out of the scored universe by design.
So this page isn’t a score. It’s the one honest thing we can say about Bitcoin from the same data: how heavy its leverage is right now, versus its own past.
What the percentile means — and why two windows
We take Bitcoin’s 7-day-average funding and ask: where does today’s value fall within its own recent history? A low percentile means leverage is light by Bitcoin’s standards; a high percentile means traders are piling on. That’s the whole reading — it says nothing about where the price goes.
We deliberately show two windows. Funding ran structurally hotter in 2019–2021, so measuring against all of history makes today look calmer than it really is. The last year and the last 90 days are the honest baselines — and when they disagree, that gap tells you the recent mood is different from the longer trend.
What this is — and isn’t
- It is a descriptive read of Bitcoin’s current leverage versus its own history.
- It is not an IOX score — Bitcoin is the benchmark, not a ranked coin.
- It is not a prediction. We have no validated signal on Bitcoin alone; one asset is the easiest place to fool yourself, and most genuinely Bitcoin-specific factors need data we don’t buy.
- It is not advice. Heavy funding is a fact about positioning, not an instruction to short.
Common questions
Why doesn’t Ioxer give Bitcoin an IOX score?
Because Bitcoin is the benchmark. The whole engine measures each coin relative to Bitcoin — so Bitcoin can’t be ranked against itself, the same way you can’t measure a ruler with that same ruler. We still read its funding, but only as context, never as a calibrated score.
Is high Bitcoin funding a sell signal?
No. On altcoins, crowded (heavy-funding) longs have historically underperformed the average coin — but we have never validated that on Bitcoin itself, and a single asset is the easiest place to fool yourself. So the funding read on Bitcoin is descriptive context only, not a buy or sell signal.
What does the percentile mean?
It’s where Bitcoin’s current 7-day-average funding sits versus its own recent history. A low percentile means leverage is light by Bitcoin’s own standards; a high percentile means it’s heavy. It says nothing about where the price goes next.
Why show two windows — last year and last 90 days?
Because the baseline you compare against changes the read. Funding ran structurally hotter in 2019–2021, so measuring against all of history flatters today’s number. Showing the last year and the last 90 days side by side is the honest version — sometimes they agree, sometimes they don’t, and that gap is itself information.
Ioxer is research, not investment advice. IOX is a crowding read — not a price prediction, not a buy/sell signal.