Funding rates settle on different intervals across venues (Binance USDT-perps typically every 8 hours; some symbols and some exchanges differ). To make them comparable, every rate is annualized to an APR before display. A raw per-interval rate is never shown next to one from a different interval.
Open interest is converted to USD notional so figures can be summed and compared across coins and exchanges.
The heatmap shows estimated leverage clusters, not realized liquidations and not a price forecast. For each candle in the lookback window, the increase in open interest is treated as newly opened positions, split long/short by taker flow, distributed across leverage tiers, and mapped to the price at which each tier would be liquidated. Levels the price has since swept are decayed. It is a model of where leverage is likely to sit — assumptions, not certainties.
These are estimates. BTC dominance is approximated from a maintained circulating-supply table valued at live prices; altcoin season is measured as the share of large-cap altcoins whose 90-day return has outpaced Bitcoin. Both are directional indicators, not official index values.
The Bitcoin Rainbow bands are a logarithmic regression fit to long-run historical price. The bands describe past behavior and are a model, not advice or a prediction.
For the full list of providers behind these figures, see Data Sources.