FED FUNDS COT report
FED FUNDS - CHICAGO BOARD OF TRADE positioning from the CFTC Legacy report. Net positions equal long contracts minus short contracts. Commercial, non-commercial and non-reportable classifications describe participants; they are not buy or sell signals.
Positions as of 2026-10-27. Open interest: 2882497 contracts. This is the latest stored observation, not live trading data.
How are traders positioned?
| Category | Long | Short | Net contracts |
|---|---|---|---|
| Non-commercial | 733993 | 323012 | 410981 |
| Commercial | 1549501 | 1966124 | -416623 |
| Non-reportable | 41067 | 35425 | 5642 |
Non-commercial percentile: 100 across 103 stored observations. This is the share of sampled net positions at or below the latest value, not a price forecast.
Position history in contracts
| Observation date | Non-commercial net |
|---|---|
| 2026-10-27 | 410981 |
| 2026-10-20 | 307293 |
| 2026-10-13 | 80191 |
| 2026-10-06 | 82669 |
| 2026-09-29 | -60626 |
| 2026-09-22 | -2045 |
| 2026-09-15 | 20474 |
| 2026-09-08 | -83889 |
| 2026-09-01 | -303784 |
| 2026-08-25 | -341262 |
| 2026-08-18 | -287940 |
| 2026-08-11 | -222959 |
| 2026-08-04 | -283592 |
| 2026-07-28 | -312547 |
| 2026-07-21 | -392302 |
| 2026-07-14 | -407579 |
| 2026-07-07 | -354253 |
| 2026-06-30 | -336017 |
| 2026-06-23 | -299403 |
| 2026-06-16 | -187934 |
| 2026-06-09 | -177055 |
| 2026-06-02 | -132324 |
| 2026-05-26 | -106799 |
| 2026-05-19 | -96824 |
| 2026-05-12 | -42000 |
| 2026-05-05 | 30815 |
| 2026-04-28 | -14312 |
| 2026-04-21 | -4559 |
| 2026-04-14 | -27761 |
| 2026-04-07 | -74504 |
| 2026-03-31 | -50706 |
| 2026-03-24 | -32042 |
| 2026-03-17 | -23399 |
| 2026-03-10 | -76782 |
| 2026-03-03 | -160245 |
| 2026-02-24 | -209611 |
| 2026-02-17 | -231181 |
| 2026-02-10 | -174730 |
| 2026-02-03 | -194703 |
| 2026-01-27 | -116029 |
| 2026-01-20 | -77811 |
| 2026-01-13 | 59440 |
| 2026-01-06 | 160358 |
| 2025-12-30 | 180795 |
| 2025-12-23 | 255186 |
| 2025-12-16 | 272501 |
| 2025-12-09 | 310943 |
| 2025-12-02 | 284299 |
| 2025-11-25 | 219823 |
| 2025-11-18 | -93419 |
| 2025-11-10 | -104590 |
| 2025-11-04 | -131950 |
| 2025-10-28 | -148193 |
| 2025-10-21 | -83037 |
| 2025-10-14 | -94178 |
| 2025-10-07 | -158970 |
| 2025-09-30 | -164089 |
| 2025-09-23 | -386831 |
| 2025-09-16 | -119513 |
| 2025-09-09 | -207456 |
| 2025-09-02 | -215874 |
| 2025-08-26 | -393823 |
| 2025-08-19 | -317054 |
| 2025-08-12 | -233667 |
| 2025-08-05 | -227270 |
| 2025-07-29 | 22508 |
| 2025-07-22 | 54525 |
| 2025-07-15 | 54744 |
| 2025-07-08 | 34254 |
| 2025-07-01 | 9303 |
| 2025-06-24 | -52710 |
| 2025-06-17 | -9974 |
| 2025-06-10 | -106475 |
| 2025-06-03 | -144721 |
| 2025-05-27 | -264063 |
| 2025-05-20 | -131330 |
| 2025-05-13 | -79469 |
| 2025-05-06 | -115965 |
| 2025-04-29 | -107720 |
| 2025-04-22 | -12417 |
| 2025-04-15 | -6975 |
| 2025-04-08 | -81232 |
| 2025-04-01 | -149843 |
| 2025-03-25 | -114010 |
| 2025-03-18 | -165484 |
| 2025-03-11 | -195261 |
| 2025-03-04 | -240075 |
| 2025-02-25 | -6390 |
| 2025-02-18 | -144305 |
| 2025-02-11 | -217474 |
| 2025-02-04 | -201853 |
| 2025-01-28 | -231996 |
| 2025-01-21 | -190795 |
| 2025-01-14 | -186720 |
| 2025-01-07 | -167216 |
| 2024-12-31 | -73795 |
| 2024-12-24 | -30925 |
| 2024-12-17 | -35557 |
| 2024-12-10 | -88471 |
| 2024-12-03 | -28904 |
| 2024-11-26 | -45069 |
| 2024-11-19 | -55140 |
| 2024-11-12 | 2437 |
Historical AI commentary — 2026-07-07
This commentary is dated separately from the positioning table. It may describe an earlier market environment.
Fed Funds COT data shows extreme positioning with leveraged funds at their largest net short in history (0.0th percentile) and asset managers at their largest net long (100.0th percentile). Dealers are heavily long, suggesting they are the counterparty to this speculative short. This extreme split, with a 4-week velocity showing spec shorts adding at -56,582 contracts per week, points to a crow...
How should this COT report be used?
Use positioning to understand exposure and crowded trades alongside price, liquidity and risk controls. Weekly reports generally describe Tuesday positions released on Friday, subject to the CFTC schedule. Classifications differ in TFF and Disaggregated reports. Compare like-for-like formats and dates.
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