Key Takeaways
- • All 81 Bitcoin Cash futures markets counted by cryptoticker.io on October 28, 2026 across 63 trading venues are perpetual contracts with no expiry date, based on CoinGecko derivatives data, and none of them are dated futures.
- • Open interest across those 81 markets totals $1.066 billion, with 24-hour turnover of $825.3 million, versus spot turnover of $213.8 million.
- • Tapbit accounts for $538.4 million, or 50.5 percent, of open interest, and the three largest venues together hold 65.1 percent.
- • The CME launched Bitcoin Cash futures on October 19, 2026 (announced September 22), in standard (250 BCH) and micro (25 BCH) sizes, but these dated contracts do not appear in the common open-interest overviews because those draw on crypto exchange data.
- • Funding rates are positive in 60 of 81 markets, with a median of +0.0061 percent per eight-hour settlement, meaning longs pay shorts.
Summary
Bitcoin Cash traded at $294.31 on the morning of October 28, 2026, up 4.4 percent over 24 hours and 3.9 percent over one week, according to CoinGecko data cited by cryptoticker.io. Bitcoin fell 2.7 percent and Ether 4.3 percent over the same period. The coin ranked 21st by market capitalization at $5.92 billion, with 20.11 million of a 21 million BCH maximum in circulation. Its weekly range was $269.97 to $295.76, and it was down 11.4 percent over 30 days.
The publication's central finding concerns derivatives market structure. Its count of publicly visible futures markets, drawn from CoinGecko's derivatives data covering 28,099 contracts across all cryptocurrencies, found 81 Bitcoin Cash contracts spread across 63 venues. All 81 are perpetuals. Open positions total $1.066 billion and 24-hour turnover is $825.3 million, roughly four dollars of futures turnover for every dollar of spot turnover. The publication argues this indicates price formation is occurring largely in leveraged venues rather than in spot trading.
The CME, a regulated US futures exchange, began offering Bitcoin Cash futures on October 19, 2026, after announcing them on September 22. Per market reports, the first block trades went through FalconX and GSR. The exchange offers a standard contract of 250 BCH and a micro contract of 25 BCH, both with expiry dates. Because the CME does not supply data to the crypto exchange aggregators used for these overviews, its contracts are absent from those open-interest figures. The publication notes that the CME is a commodities, interest-rate and currency futures exchange, and that it publishes its own turnover and open-interest data.
Concentration is a notable risk. Tapbit holds $538.4 million, or 50.5 percent, of open interest, Binance $98.0 million (9.2 percent), and the remaining 62 venues share $527.3 million. The publication cautions that such concentration means the aggregate figure largely reflects one venue's positioning and could shift sharply if that venue's positions change. It states that the figures reflect where positions are reported and make no judgment on platform quality.
Funding rates are positive in 60 of the 81 markets, negative in 15, and zero in the rest, with a median of +0.0061 percent per settlement period. The publication estimates this at roughly 2 percent annualized for an eight-hour settlement schedule, a cost that matters for longer holding periods. Rates range from -0.1 percent to +0.0229 percent. At 10x leverage a roughly 10 percent adverse move triggers liquidation, and the past week's 9.6 percent range would have been sufficient to do so.
Grayscale filed an updated registration on September 11 to convert its Bitcoin Cash Trust into a spot ETF on NYSE Arca. According to the article, no decision date has been set and no decision has been made.
The publication's central finding concerns derivatives market structure. Its count of publicly visible futures markets, drawn from CoinGecko's derivatives data covering 28,099 contracts across all cryptocurrencies, found 81 Bitcoin Cash contracts spread across 63 venues. All 81 are perpetuals. Open positions total $1.066 billion and 24-hour turnover is $825.3 million, roughly four dollars of futures turnover for every dollar of spot turnover. The publication argues this indicates price formation is occurring largely in leveraged venues rather than in spot trading.
The CME, a regulated US futures exchange, began offering Bitcoin Cash futures on October 19, 2026, after announcing them on September 22. Per market reports, the first block trades went through FalconX and GSR. The exchange offers a standard contract of 250 BCH and a micro contract of 25 BCH, both with expiry dates. Because the CME does not supply data to the crypto exchange aggregators used for these overviews, its contracts are absent from those open-interest figures. The publication notes that the CME is a commodities, interest-rate and currency futures exchange, and that it publishes its own turnover and open-interest data.
Concentration is a notable risk. Tapbit holds $538.4 million, or 50.5 percent, of open interest, Binance $98.0 million (9.2 percent), and the remaining 62 venues share $527.3 million. The publication cautions that such concentration means the aggregate figure largely reflects one venue's positioning and could shift sharply if that venue's positions change. It states that the figures reflect where positions are reported and make no judgment on platform quality.
Funding rates are positive in 60 of the 81 markets, negative in 15, and zero in the rest, with a median of +0.0061 percent per settlement period. The publication estimates this at roughly 2 percent annualized for an eight-hour settlement schedule, a cost that matters for longer holding periods. Rates range from -0.1 percent to +0.0229 percent. At 10x leverage a roughly 10 percent adverse move triggers liquidation, and the past week's 9.6 percent range would have been sufficient to do so.
Grayscale filed an updated registration on September 11 to convert its Bitcoin Cash Trust into a spot ETF on NYSE Arca. According to the article, no decision date has been set and no decision has been made.
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