SKYAI surged 34% in a single day—shorts got liquidated, with about 90% wiped out, while the funding fees were consistently paid by longs
Today, the AI-themed token SKYAI jumped into the top ten gainers. Current price is around 0.109, up 34% over the past 24 hours. It surged from a low of 0.0774 all the way to 0.1187, with $370 million in contract trading volume.
Liquidation reports were overwhelmingly one-sided: out of $1.78 million liquidated in 24 hours, shorts accounted for $1.58 million, or 89%, across a total of 1,010 trades. The worst wave hit around 4:00 a.m. Beijing time. In one hour, $1.14 million worth of shorts were liquidated. At 4:40 a.m., Gate triggered five straight rounds of forced liquidation within the same minute—liquidating short positions in the $60k tier. The liquidation price levels were pushed upward from 0.095 to 0.105, a classic stampede exit. By platform breakdown, Gate liquidated $1.07 million (about 60%), but across only 293 trades, averaging $3,600 per trade. Binance liquidated $0.57 million across 584 trades, averaging under $1,000 per trade—indicating a higher density of short positions among smaller accounts.
The funding rate is the most interesting part. In the same situation—being squeezed up the gainers list—ACE and BICO had more than a dozen platforms with negative funding rates, where shorts were effectively paying to surround and attack. But for SKYAI, across 11 platforms the funding rates were all positive. Binance’s funding rate was 0.0206% per 4 hours; Bybit rose to around 0.0647% per 4 hours (about 140% annualized). From start to finish, longs were the ones paying funding. In other words, this batch of shorts didn’t make a cent in funding—they were simply on the wrong side and got carried off by the move.
Total SKYAI open interest across the whole network is about $67 million, with Binance holding the largest share at $18 million. Positive funding rates indicate that longs are actively competing for positions. Before chasing higher prices, it’s worth checking how many shorts are still left above 0.11 to be squeezed.
Live view: https://www.coinboss.com/liquidations/skyai
Today, the AI-themed token SKYAI jumped into the top ten gainers. Current price is around 0.109, up 34% over the past 24 hours. It surged from a low of 0.0774 all the way to 0.1187, with $370 million in contract trading volume.
Liquidation reports were overwhelmingly one-sided: out of $1.78 million liquidated in 24 hours, shorts accounted for $1.58 million, or 89%, across a total of 1,010 trades. The worst wave hit around 4:00 a.m. Beijing time. In one hour, $1.14 million worth of shorts were liquidated. At 4:40 a.m., Gate triggered five straight rounds of forced liquidation within the same minute—liquidating short positions in the $60k tier. The liquidation price levels were pushed upward from 0.095 to 0.105, a classic stampede exit. By platform breakdown, Gate liquidated $1.07 million (about 60%), but across only 293 trades, averaging $3,600 per trade. Binance liquidated $0.57 million across 584 trades, averaging under $1,000 per trade—indicating a higher density of short positions among smaller accounts.
The funding rate is the most interesting part. In the same situation—being squeezed up the gainers list—ACE and BICO had more than a dozen platforms with negative funding rates, where shorts were effectively paying to surround and attack. But for SKYAI, across 11 platforms the funding rates were all positive. Binance’s funding rate was 0.0206% per 4 hours; Bybit rose to around 0.0647% per 4 hours (about 140% annualized). From start to finish, longs were the ones paying funding. In other words, this batch of shorts didn’t make a cent in funding—they were simply on the wrong side and got carried off by the move.
Total SKYAI open interest across the whole network is about $67 million, with Binance holding the largest share at $18 million. Positive funding rates indicate that longs are actively competing for positions. Before chasing higher prices, it’s worth checking how many shorts are still left above 0.11 to be squeezed.
Live view: https://www.coinboss.com/liquidations/skyai