Free tool · Market Radar
Read the market before you trade.
Three questions to ask before you add risk: is the crowd over-borrowed, how hard have coins been falling, and are your coins really different bets? Live Bybit data, free, nothing to install.
Is the market over-borrowed?
One number that shows how much borrowed money is betting on crypto prices rising. Check it before you add leverage, not after the market makes the decision for you. Free, no sign-up, nothing to install.
Why it's here, free
How to read it
- Below 0% · Fear. Short sellers are paying buyers: more traders are betting on a fall.
- 0% to about 11% · Calm. At or below the exchange's default rate (0.01% every 8 hours, about 11% a year). No unusual borrowing to bet on a rise.
- About 11% to 40% · Warm. Buyers are paying more than usual to keep borrowed long positions. The crowd is leaning one way.
- Above 40% · Crowded. A lot of borrowed money is betting on prices rising. If prices drop sharply, exchanges close those positions automatically (liquidations), and that selling can make the fall faster.
What it measures
Perpetual futures have no expiry date, so exchanges keep their price close to the coin's real price with funding: every few hours, traders on one side pay traders on the other. When more traders hold borrowed bets on a rise, buyers pay sellers, and the rate goes up.
The gauge is the average funding rate across Bybit's 30 most-traded USDT perpetual contracts (by trading volume over the last 24 hours). It's read many times through each day, and each day's figure is the average of that day's readings. One figure per finished UTC day, shown as a yearly rate so it's easy to compare.
What it can't do
- It isn't a timing signal. A crowded market can stay crowded and keep rising for weeks. Use it to decide how much risk to take, not when to buy or sell.
- It's an average. One coin can pay far more, or far less, than the market as a whole.
- It describes finished days. Each figure is a whole day's average, added after that day ends, not a live reading.
Pair it with the liquidation price calculator (how small a move ends your trade) and the leverage risk check (what one bad day costs your account). New to all this? The Drawdown Playbook is free.
For information only, not financial advice. Data: Bybit public market data. Cryptoassets are highly volatile and you can lose all of your money; leveraged trading can lose you all of your margin very quickly.
Crypto Bubbles, with the risk on top
The 150 most-traded coins on Bybit at a glance. Most bubble maps only show what went up. Switch to the risk view to see how hard each coin fell in the last 30 days: the number that decides whether you could actually hold it.
Green = up, red = down; stronger colour = bigger move. Size = 24h trading volume.
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Why a risk view
A green bubble tells you what already happened. It doesn't tell you what holding the coin feels like. The worst 30-day fall ? does: it's the deepest drop from a high to a low within the last 30 days, using daily closing prices. A coin that rose 20% this week but fell 40% inside the month is a very different thing to own than one that rose 20% steadily.
It's the same idea we apply to every trader and every system: judge it by the worst stretch first. If a coin's normal month includes a 40% fall, size it so that fall wouldn't hurt you. The drawdown recovery calculator shows what any fall costs to win back.
What the bubbles show
- Size ? = trading volume on Bybit over the last 24 hours, on a softened scale so the biggest coins don't hide the rest. (Free market-cap feeds don't allow commercial use, so we use the exchange's own public volume.)
- Colour = the move over the period you pick: Bybit's 24-hour change at the time shown, or 7 or 30 completed days.
- Coins = the 150 Bybit USDT spot pairs with the most 24h volume, without stablecoins, gold tokens, wrapped copies of other coins or leveraged tokens. Tap any bubble for its figures.
For information only, not financial advice, and not a list of coins to buy. Data: Bybit public market data, refreshed every few hours. Past moves never predict future ones.
Are your coins really different bets?
Five altcoins can be one bet in disguise. Pick the coins you hold and see how closely they moved with Bitcoin, and with each other, over the last 90 days, and what they did on Bitcoin's worst days.
How to read it
- Correlation compares the coins' daily moves: 1 means they moved perfectly in step, 0 means unrelated, negative means opposite.
- Independent bets = number of coins ÷ (1 + (number − 1) × their average correlation). Five coins that move almost in step count as little more than one; five unrelated coins count as five.
- Bitcoin's worst days are when it matters: if your coins fell as much as Bitcoin, or more, they didn't protect you on the days you needed it.
What to do with it
If your basket is really one or two bets, size it like one or two: a fall in Bitcoin will likely hit all of it at once. The leverage risk check shows what that does with leverage, and the position size calculator sizes each trade from what you're willing to lose. Why it matters on a bad morning: judge everything by its worst month first.
For information only, not financial advice. Uses the last 90 completed daily closes on Bybit (USDT pairs); correlations change over time, and they usually rise in a crash.