The important part isn’t the overnight ATS outage. It’s what #Binance did to the funding signal.
An intermittent connectivity issue affected a major U.S. overnight alternative trading system from 03:46 to 06:30 UTC. For the 08:00 UTC funding calculation, Binance removed premium-index data from that window across U.S.-equity #TradFi perpetuals.
That makes the affected funding print a weaker read on positioning than usual. It was calculated after an input adjustment, not from a fully continuous premium history.
For these contracts, the cleaner test comes after the #usa cash session opens: watch whether basis and liquidity normalize before treating funding as confirmation.
An intermittent connectivity issue affected a major U.S. overnight alternative trading system from 03:46 to 06:30 UTC. For the 08:00 UTC funding calculation, Binance removed premium-index data from that window across U.S.-equity #TradFi perpetuals.
That makes the affected funding print a weaker read on positioning than usual. It was calculated after an input adjustment, not from a fully continuous premium history.
For these contracts, the cleaner test comes after the #usa cash session opens: watch whether basis and liquidity normalize before treating funding as confirmation.