Just compared the funding rates on two perp exchanges—the signs are opposite.
$LINK Binance: 12.58, +2.2% on the day, 1.8% below the high.
HL longs are paying the maximum funding rate; positions are about 61.2M / 8.8M today, density 7.0.
OKX rate is about -0.006%; shorts are earning funding.
Opposing funding across exchanges, layered on top of inventory—I’m betting the rate spread will diverge. The only counterargument: wait for OKX funding to turn positive.
#LINK结构 #FundingRateDivergence
$LINK Binance: 12.58, +2.2% on the day, 1.8% below the high.
HL longs are paying the maximum funding rate; positions are about 61.2M / 8.8M today, density 7.0.
OKX rate is about -0.006%; shorts are earning funding.
Opposing funding across exchanges, layered on top of inventory—I’m betting the rate spread will diverge. The only counterargument: wait for OKX funding to turn positive.
#LINK结构 #FundingRateDivergence