Why is Wormhole up or down today?

According to EnsoTrade order-flow data, W is up 1.03% over 24h: short covering — price is rising while positions close, a structurally weaker rally. Longs are paying shorts (+0.0050%/8h), a crowded-long tilt; open interest fell 7.1% over the last 6h. Perp trades at a -0.147% discount to spot.

W signals

What moves Wormhole?

Wormhole's short-term moves come from derivatives positioning, not just spot. EnsoTrade reads three live signals: funding (which side is crowded), open interest (new money vs unwinding), and order flow (which side of the book is absorbed). Together they show if a move is real or a trap.

Go deeper on Wormhole: Wormhole funding & crowding · Wormhole order flow.

FAQ

Why is Wormhole up or down today?

According to EnsoTrade order-flow data, W is up 1.03% over 24h: short covering — price is rising while positions close, a structurally weaker rally. Longs are paying shorts (+0.0050%/8h), a crowded-long tilt; open interest fell 7.1% over the last 6h. Perp trades at a -0.147% discount to spot.

What is the funding rate on Wormhole?

Wormhole funding is 0.005% per 8h — longs pay shorts (crowded long).

What is Wormhole open interest?

$686,950, down 7.06% in 6h.

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