$LYN retail is nearly four to one long and the open contracts are shrinking.
LYN +20.80%. Longs pay 0.06% a day on a four-hour funding interval, close to nothing. Open contracts fell 2.6% over the day, from 564M to 549M. Retail is 78.8% long and has been above half on all 30 days. Asks within 1% of mid are 38k USD against 19k of bids. No spot pair, futures only.
Bigger side: longs, retail and top traders.
Empty move, no fuel.
CAP +18.31%. Longs pay 0.57% a day, the heaviest of the five. Open contracts went from 258M to 291M over the day, up 12.9%. Retail is 51.9% long, the 34th percentile of its own 30-day range of 46.4% to 62.8%. Top traders hold 65.7% long. No spot pair.
Bigger side: longs, retail and top traders.
Crowded and paying side: longs.
ON +14.14%. Longs pay 0.05% a day. Open contracts went from 56M to 63M, up 12.4%. Retail is 58.9% long, the 24th percentile of its own 30-day range of 54.2% to 73.8%. Top traders hold 63.5% long.
Bigger side: longs, retail and top traders.
Real move, no crowding.
UAI +12.73%. Longs pay 0.03% a day, the base rate. Open contracts fell 12.5% over the day, from 53M to 46M. Retail is 66.1% long, the 80th percentile of its own 30-day range. Takers sold more than they bought, ratio 0.91.
Bigger side: longs, retail and top traders.
Empty move, no fuel.
BIRB +8.87%. Longs pay 0.03% a day. Open contracts fell 6.3% over the day, from 46M to 43M. Retail is 64.5% long, the 15th percentile of its own 30-day range of 61.3% to 82.5%. Taker ratio 0.92, and the book holds 78k USD of bids against 66k of asks.
Bigger side: longs, retail and top traders.
Empty move, no fuel.
Which book here looks thinnest to you?
$CAP $ON #Market_Update
LYN +20.80%. Longs pay 0.06% a day on a four-hour funding interval, close to nothing. Open contracts fell 2.6% over the day, from 564M to 549M. Retail is 78.8% long and has been above half on all 30 days. Asks within 1% of mid are 38k USD against 19k of bids. No spot pair, futures only.
Bigger side: longs, retail and top traders.
Empty move, no fuel.
CAP +18.31%. Longs pay 0.57% a day, the heaviest of the five. Open contracts went from 258M to 291M over the day, up 12.9%. Retail is 51.9% long, the 34th percentile of its own 30-day range of 46.4% to 62.8%. Top traders hold 65.7% long. No spot pair.
Bigger side: longs, retail and top traders.
Crowded and paying side: longs.
ON +14.14%. Longs pay 0.05% a day. Open contracts went from 56M to 63M, up 12.4%. Retail is 58.9% long, the 24th percentile of its own 30-day range of 54.2% to 73.8%. Top traders hold 63.5% long.
Bigger side: longs, retail and top traders.
Real move, no crowding.
UAI +12.73%. Longs pay 0.03% a day, the base rate. Open contracts fell 12.5% over the day, from 53M to 46M. Retail is 66.1% long, the 80th percentile of its own 30-day range. Takers sold more than they bought, ratio 0.91.
Bigger side: longs, retail and top traders.
Empty move, no fuel.
BIRB +8.87%. Longs pay 0.03% a day. Open contracts fell 6.3% over the day, from 46M to 43M. Retail is 64.5% long, the 15th percentile of its own 30-day range of 61.3% to 82.5%. Taker ratio 0.92, and the book holds 78k USD of bids against 66k of asks.
Bigger side: longs, retail and top traders.
Empty move, no fuel.
Which book here looks thinnest to you?
$CAP $ON #Market_Update