Gained 51%, yet the funding rate is negative—this combination is quite rare.
Today, ZORA surged from a low of 0.00618 to as high as 0.00985, a gain of nearly 60% in total, and has now pulled back to around 0.0095.
In theory, after such a big rally, longs should be the ones paying shorts.
But right now the funding rate is -0.00216%—it’s the shorts who are paying.
This suggests that even though the price has already climbed, there’s still a group of traders stubbornly holding short positions, betting on a pullback.
And the long/short ratio shows that 65% of positions are long, while shorts only make up 35%, yet they’re the ones actively paying to maintain their positions.
Looking at the 8-hour candlesticks, the overall momentum is bullish. The trading volume also cooperates—on the 7th candlestick, volume is the largest, which lines up perfectly with the last stretch of accelerated breakout.
The question now is: will the negative funding rate keep getting “squeezed” to push the price higher?
Or is the short thesis correct, and the price won’t hold, leading to a pullback?
No rush to jump to conclusions—first, let’s see if it can hold the 0.009 psychological level.
$ZORA #资金费率异常 #51%爆涨
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