COW/USDT
Last updated: 11/2/2026, 5:06:29 AM
Moderate leverage or liquidation pressure
Pulse signals— velocity & rarity composite
What's moving fast right now. Independent from the static stress score.
Stress-score timeline
Aggregated Open Interest (All Exchanges)
Risk Signals (Extra)
Liquidation history
Positioning summary
Binance's top traders by position size are 57.6% long and 42.4% short in COWUSDT, a long/short ratio of 1.36. All accounts on the venue sit at 42.5% long, so the largest positions are leaning further long than the crowd. COW has no Hyperliquid whale book, so these venue-wide ratios stand in for it; the interactive panel below reloads them on its own.
Open Interest
CoinalyzeFunding Rate
CoinalyzePer-exchange futures data▾
| Metric | Binance | Bybit | KuCoin |
|---|---|---|---|
| Price | $0.116 | $0.11626 | $0.116 |
| OI (USD) | $2.85M | $1.22M | $301.10K |
| OI share | 65.2% | 27.9% | 6.9% |
| OI (tokens) | 24,539,124 | 10,488,914 | 2,595,650 |
| Funding rate | -0.1228% | — | — |
A dimmed exchange means the pair isn't listed there. Funding & long/short are Binance-only.
External Data (CoinMarketCap & Coinalyze)
Other BTC-trackers
COW sits in the BTC-trackers cohort. These perpetuals trade alike, so their leverage tends to build and unwind the way COW's does:
- ELSA0.46-7.1%
- DOOD0.44+2.8%
- COTI0.42+3.8%
- IOST0.42+1.1%
- TRUMP0.41+5.0%
- TOWNS0.34-2.0%
- PEOPLE0.19-0.0%
- CRV0.07-1.9%
Stress score (0–1) and 24h price change, from the same daily sync as this page.
COW perpetuals — common questions
Answered from this pair's current readings, refreshed with the daily sync.
What are COW's current liquidation levels?
Across the exchanges we aggregate, $35.4K of COW positions were actually liquidated in the last 24 hours. Binance does not publish per-account liquidation prices, so the honest read for COWUSDT is the realised liquidation flow above plus the long/short split in the liquidation-history chart on this page — not a map of where stops sit.
How much open interest does COW have right now?
Aggregated open interest in COW perpetuals is $4.37M: $2.85M on Binance (65%), $1.22M on Bybit (28%) and $301.1K on KuCoin (7%). That position base is +0.4% over 24 hours and +124.5% over the last week. Open interest is 0.36× the pair's 24-hour volume, so positions are turning over faster than the book itself.
What is COW's funding rate?
Binance settles COWUSDT funding at -0.1228% every 8 hours, which annualises to roughly -134.5%. Funding is negative, so shorts are paying longs — the crowd is leaning short and paying to stay there. At that rate a $10,000 position on the short side pays about $36.84 a day to stay open.
Is COW over-leveraged right now?
COW's leverage-stress score is 0.453 out of 1.0, which we band as medium risk. It blends three readings: how big the perp book is next to the token itself ($66.94M of market cap against $4.37M of open interest), how violently open interest is swinging against the funding rate, and how much of the book is already being force-closed ($35.4K in the last 24 hours). A high score means fragile, not bearish: it says a move would be violent, not which way it would go.
Has COW seen heavy liquidations lately?
Over the last 30 complete days, 73% of the COW notional that got liquidated was long positions and 27% was shorts, so the pain has been mostly on the long side. The most recent 24-hour total ranks in the 89th percentile of the last 90 days, meaning today is unusually heavy for this pair. The mirrored bar chart on this page plots the daily long/short split for the past year.
Is COW's positioning changing quickly?
COW's pulse score is 0.364 out of 1.0 — a measure of how unusual its current open-interest, funding and volatility moves are against its own 90-day history, kept deliberately separate from the stress score. The readings behind it right now: open interest +0.4% in a day and volume well above its own 30-day median. At this level nothing unusual is happening yet.
COW/USDT (COWUSDT) perpetual futures shows a leverage-stress score of 0.453 out of 1.0 (medium risk), $4.37M in aggregated open interest across Binance, Bybit, KuCoin, a funding rate of -0.1228% as of Nov 2, 2026. These are diagnostic readings of market conditions, not a trade signal.