APT (Aptos) is going through a rare short funding-rate tax.
Among 19 exchanges worldwide, 14 have negative rates. On Binance, every 8 hours it charges -0.0181%, which annualizes to -104.3%. CoinEx is even harsher, with a -0.0239% funding rate, annualizing to -137.5%. KuCoin and LBank follow closely.
So what does this mean? If you short APT on Binance, the funding rate alone costs you 1.81% of your position every 8 hours. With 10x leverage, the funding cost every hour eats up 0.75% of your principal. If you hold for more than 5 days, the funding costs exceed half of your principal.
In stark contrast to APT is XRP. On CoinEx, XRP’s funding rate is +0.0656% (annualized +377.8%), the most extreme positive rate across the entire market. Binance’s XRP funding is also kept at +0.0065%. Long crowding is far greater than short crowding.
Even more worth noting is HYPE. On CoinEx, its funding rate is -0.0996%, annualizing to -573.7%, the most extreme negative figure among all coins in the world. But on Binance, Bybit, and other major exchanges, it remains at +0.0050%—a huge divergence between longs and shorts.
The current Fear & Greed Index is 27, and the market is in the Fear zone. With sentiment like this, extreme negative funding suggests that shorts are overly crowded. Once there’s a rebound, the pressure to close shorts could be very intense.
Full funding-rate ranking: coinboss.com/funding-rate
Among 19 exchanges worldwide, 14 have negative rates. On Binance, every 8 hours it charges -0.0181%, which annualizes to -104.3%. CoinEx is even harsher, with a -0.0239% funding rate, annualizing to -137.5%. KuCoin and LBank follow closely.
So what does this mean? If you short APT on Binance, the funding rate alone costs you 1.81% of your position every 8 hours. With 10x leverage, the funding cost every hour eats up 0.75% of your principal. If you hold for more than 5 days, the funding costs exceed half of your principal.
In stark contrast to APT is XRP. On CoinEx, XRP’s funding rate is +0.0656% (annualized +377.8%), the most extreme positive rate across the entire market. Binance’s XRP funding is also kept at +0.0065%. Long crowding is far greater than short crowding.
Even more worth noting is HYPE. On CoinEx, its funding rate is -0.0996%, annualizing to -573.7%, the most extreme negative figure among all coins in the world. But on Binance, Bybit, and other major exchanges, it remains at +0.0050%—a huge divergence between longs and shorts.
The current Fear & Greed Index is 27, and the market is in the Fear zone. With sentiment like this, extreme negative funding suggests that shorts are overly crowded. Once there’s a rebound, the pressure to close shorts could be very intense.
Full funding-rate ranking: coinboss.com/funding-rate