The futures open position of a token serves as a gauge for the overall number of its futures contracts that are still active, regardless of whether they have been closed or not. A surge in this position may indicate a growing number of traders entering the market to initiate new positions. Along with the rising open interest in HBAR, the funding rate on various cryptocurrency exchanges has also maintained a positive trajectory. This pattern has persisted since May 3, which marked the last instance when the altcoin saw a negative funding rate. Funding rates play a crucial role in perpetual futures contracts by ensuring that the contract price closely mirrors the spot price.
