$RONIN fee flips—who’s taking the hard hit?

The fee rate has flipped from +0.0011% to -0.0021%. It’s negative. Are the shorts in control? But this advantage comes with a price—short position holding costs are starting to rise.

Price: 0.04903, -15.3% in 24h. Did the longs concede? Not really. OI +14.4%: 1.5M > 1.7M > 1.9M > 1.7M. While the market keeps falling, real money is still flowing in.

The shorts ask: “If the funding rate flipped negative, don’t I win automatically?”
The longs ask: “With it dropping this much, and people still adding positions—wasn’t this the bottom?”
Both sides feel like they’re winning. That’s the most unsettling part.

Trading volume $5.5M, market cap $40.1M, and the spot pairs are still listed. Negative funding sits at low levels—once shorts cover, the first positions to get pressed down will be the shorts.

Have you calculated your cost? How many times leverage?

Risk warning: funding rate only tells you who’s paying—not the direction.

#RONIN #币安 #Bitcoin