op

Binance’s OP funding rate is still positive, while OKX’s has turned negative. Accounts are slightly more short than long, and prices have only dipped about 0.8%–1.0% on both exchanges. Yet over the 24-hour window, about $446,100 in longs were liquidated, compared with just $18,300 in shorts—a roughly 24-to-1 liquidation gap, with liquidations hitting almost exclusively long positions.
Binance: about $0.11175000 (-0.8170%); OKX: about $0.11174000 (-0.9661%). Over 24 hours, about $446,100 in longs and $18,300 in shorts were liquidated, totaling about $464,400 across 245 liquidations. Open interest: about 17.8446 million on Binance and 4.4023 million on OKX. Funding rates: about +0.0028% on Binance and -0.0068% on OKX, pointing in opposite directions. The long/short account ratio is about 48.5%/51.5%, giving shorts a slight edge.

When the market has been pushing altcoins down for a long time, the most interesting ideas are often not where everything is already taking off, but where coins have been beaten down hard and still don't look completely dead.
Today, I'd be looking at ARB, OP, and FIL.
First, it's important to understand:
this isn't a “10x tomorrow” kind of story.
These are coins that have already fallen very sharply, but still have reasons why they might come back to life one day.

OP's price fell about 2.6%. Funding rates were about -0.015% on Binance and -0.025% on OKX. Over the 24-hour window, about $439,000 in long positions were liquidated, compared with about $18,000 in shorts—a roughly 25-fold difference. Funding rates on both exchanges favored shorts, yet liquidations throughout the day wiped out longs first.
Binance was around $0.1126 (-2.5870%), and OKX around $0.1125 (-2.5290%). Over 24 hours, about $439,000 in longs and $18,000 in shorts were liquidated, totaling around $457,000 across 246 liquidations. Over 12 hours, by contrast, about $14,800 in shorts and $3,000 in longs were liquidated. Open interest was around 18.02 million on Binance and 4.46 million on OKX; the long-to-short account ratio was about 49:51.

OP accounts are almost evenly split between long and short, yet the long-to-short liquidation gap over the past 24 hours has widened to about 35x, with longs bearing almost all the selling pressure.
Binance is at about $0.11158 (-5.5290%), and OKX at about $0.11160 (-5.3435%). Total liquidations over 24 hours were about $750,000 across 410 trades; longs accounted for about $728,000 and shorts about $20,000, a ratio of roughly 35.7x. The ratio was even higher over the four-hour window, at about 46x. Long accounts made up about 49.61%; open interest was about 17.59 million on Binance and 4.49 million on OKX. Funding rates were near zero, slightly positive.
Accounts look balanced, but liquidations are overwhelmingly skewed toward longs—leverage distribution and account counts are not the same thing.

OP only fell about 5.2%, so how have long liquidations already exceeded shorts by more than 37x?
Binance: about $0.1120 (-5.1960%); OKX: about $0.1120 (-5.3485%). Total liquidations over the past 24 hours were about $743,000 across 383 trades: roughly $723,000 in longs and $19,000 in shorts, a ratio of about 37.1 to 1. Open interest was about 17.63 million on Binance and 4.52 million on OKX; longs accounted for about 58.4% of accounts. Funding rates were slightly positive, so longs were paying, yet liquidations hit almost entirely on the long side.
The price move looks ordinary, but the liquidation ratio doesn’t—this gap is worth keeping an eye on.
#OP #合约行情 #多空比 #Liquidations