Conclusion first: on all three major platforms for TRX, the funding rates are negative. Short sellers haven’t just failed to profit from the drop—they also have to keep paying money to longs.
Converted on an 8-hour settlement basis, Binance’s annualized figure effectively “pays” about 35%—OKX about 25%—and Bybit is even harsher, with an annualized “pay” close to 50%. The direction is the same across all three, indicating that short positions are currently paying for the cost of holding the positions.
TRX trading volume is not small, but the funding rate hasn’t turned positive. The more people chase shorts, the higher the shorters’ cost becomes. If the price doesn’t keep falling, this “rent” will first grind down the leveraged shorts.
$TRX $BTC
Will you choose to continue shorting, or wait until the funding rate turns positive before entering?
View in real time: https://www.coinboss.com/currencies/TRX