Long/short ratio · hourly
Bittensor long/short ratio
How many TAO futures accounts are long versus short on Binance and Bybit, and how Binance's top traders are positioned, hour by hour for 30 days, next to price.
Now (26 Oct 2026, 12:00 UTC): Binance, all accounts 57.5% long (+1.6 pp in 24h); Binance, top traders by accounts 66.4% long (+1.4 pp in 24h); Binance, top traders by positions 77.5% long (+0.8 pp in 24h); Bybit, all accounts 77.9% long (+0.6 pp in 24h).
Share of accounts (or, for "top traders by positions", of position size) that is long, hourly. Dashed grey: TAO price on its own scale (245.18 - 333.36).
TAO on Edge or Not: liquidation heatmap · liquidations · liquidity heatmap · open interest · funding rate · liquidation calculator · CVD · long/short ratio
Four ratios, four different questions
- All accounts (Binance, Bybit): of all accounts holding a TAO position, the share that is net long - every account counts the same, whatever its size.
- Top traders by accounts (Binance): the same, but only among the exchange's largest traders by margin.
- Top traders by positions (Binance): among those largest traders, the share of position size that is long - money, not heads.
- The total is always balanced. Every long contract has a short on the other side, so a ratio above 1 means more accounts are long, not more money. When most accounts are long and top traders by positions are less so, the shorts sit with bigger accounts.
Is a high long/short ratio a signal?
The common contrarian reading says that when most accounts are long, the move goes the other way. We have not tested it yet, so we make no claim. Similar crowd signals we did test - extreme funding and extreme fear - did not beat chance after costs.
Where the numbers come from
Binance and Bybit publish these ratios for USDT-margined perpetuals; we record them every hour and keep 30 days of history. They are the exchanges' own calculations - the definition of "top traders" is Binance's. Data as JSON: API.
FAQ
What is the Bittensor long/short ratio?
The share of accounts net long TAO futures against the share net short, as published by the exchange. On Binance right now 57.5% of accounts are long (ratio 1.35). It counts accounts, not money.
Why is the ratio above 1 if every long has a short?
It counts traders, not contracts. Many small accounts can be long while fewer, larger accounts hold the matching shorts.
Is a high long/short ratio bearish?
That is the popular contrarian reading. We have not tested it yet, so we make no claim.