$QQQ is printing an absorption footprint near $683 - 4.1x the local book in a single band.
Funding is 0.0000%, so neither side is paying much; open interest is +0.15% in the last hour and +4.79% over four; and bids hold 46% of visible depth. So the bids are soaking market sells while neither side is paying a meaningful funding bill - there is no funding tailwind here, so it is pure book versus flow.
Is that depth real size defending the level, or the book being set up for the break?
📌 $QQQ · #Nasdaq100 #Macro #Orderbook #BinanceSquare
Related: $SPY $BTC
Data: Binance USD-M futures (funding, open interest, orderbook depth, taker flow)
Funding is 0.0000%, so neither side is paying much; open interest is +0.15% in the last hour and +4.79% over four; and bids hold 46% of visible depth. So the bids are soaking market sells while neither side is paying a meaningful funding bill - there is no funding tailwind here, so it is pure book versus flow.
Is that depth real size defending the level, or the book being set up for the break?
📌 $QQQ · #Nasdaq100 #Macro #Orderbook #BinanceSquare
Related: $SPY $BTC
Data: Binance USD-M futures (funding, open interest, orderbook depth, taker flow)
