XRP 30-day funding rate +0.18%, highest in over a year... ETF net outflow of 13.9 billion won

XRP perpetual futures on Binance recorded a 30-day cumulative funding rate of +0.18%, the highest level in about a year and matching the last similar reading in October 2025, according to CryptoQuant analysis by Darkfost. Over the same period, U.S. spot XRP ETFs saw a single-day net outflow of $10.4 million (about 13.9 billion won). The elevated funding rate signals that long positions are paying shorts to stay open, reflecting crowded bullish leverage in the derivatives market. The combination of rich perp positioning and ETF outflows points to divergence between speculative futures demand and spot institutional appetite. Traders will watch whether funding cools as longs unwind or ETF flows reverse, which would indicate whether the leverage build-up is sustainable.