Conclusion first: KERNEL’s short side really dares to hold on. The annualized funding rate is a negative “top-up” of -1474%, yet they still cluster up to short.

Current price 0.0555. Down 7% in the last 24 hours. High 0.0629, low 0.0552. Binance, Bybit, and Gate are all aligned.

Bybit annualized -1474%, Binance -1025%. In theory, shorts are paying money to longs. But recently in the last 1 hour, liquidation accounted for 99.86% all longs; in 4 hours, it’s also 99.78%. Crushing longs is even more aggressive than the “negative fee” you’d expect from shorts.

In the past 24 hours, longs made up 55%, and a slightly bearish consensus has just formed. Open interest has shrunk by 2.7% over a day. Binance positions are down 18%; some people are pulling out.

$KERNEL

#资金费率 #liquidations

With so much “topping-up” money, why are they still daring to short?

View in real time: https://www.coinboss.com/currencies/KERNEL