This hour’s perpetual funding rate: shorts are paying longs. SLX is about -0.3095%, SAND -0.1945%, and ONG -0.1781%. The short side is so heavy that they’re willing to subsidize the position cost.
The most recent settlement was ONG at 14:00—there are about 55 minutes left. With a negative funding rate, longs receive payments at settlement, while shorts pay. SLX and SAND’s next settlement is at 16:00.
The deeper the rate, the more expensive it is to short. Not guaranteed to reverse immediately. Funding rate is a cost, not a direction.
The most recent settlement was ONG at 14:00—there are about 55 minutes left. With a negative funding rate, longs receive payments at settlement, while shorts pay. SLX and SAND’s next settlement is at 16:00.
The deeper the rate, the more expensive it is to short. Not guaranteed to reverse immediately. Funding rate is a cost, not a direction.