$PYPL 24 hours rose by 4.387%, with the quote at 54.73. But the funding rate did not move at all, sitting at 0.00000000, meaning neither longs nor shorts paid each other. Open interest is only 5654.58 contracts; compared with price and trading volume, this suggests no major capital is placing a large directional bet in the derivatives market.
This rise in price looks more like spot buying gently pushing it up, while the futures market did not follow at all. The last time it was near a similar level, longs and shorts either fought each other hard (funding rate surged) or both rushed to exit (OI changed sharply). Now neither side seems willing to move. Without a funding rate, there is no carrying cost, and the price rally lacks a solid foundation. If spot buying does not continue to follow through, once shorts enter the futures market to test the waters, the price can easily be pushed back to its original level.
Under this kind of light-position, wait-and-see structure, going long can only be a probe, not a heavy position. If the price can hold above 55 and OI rises significantly, I will consider adding. If it pulls back and falls below 53, this pulse move is over, and I will exit immediately.
Trading tag: #TradFi #链上美股 #PYPL
Where do you think this judgment is most likely to be wrong?
This rise in price looks more like spot buying gently pushing it up, while the futures market did not follow at all. The last time it was near a similar level, longs and shorts either fought each other hard (funding rate surged) or both rushed to exit (OI changed sharply). Now neither side seems willing to move. Without a funding rate, there is no carrying cost, and the price rally lacks a solid foundation. If spot buying does not continue to follow through, once shorts enter the futures market to test the waters, the price can easily be pushed back to its original level.
Under this kind of light-position, wait-and-see structure, going long can only be a probe, not a heavy position. If the price can hold above 55 and OI rises significantly, I will consider adding. If it pulls back and falls below 53, this pulse move is over, and I will exit immediately.
Trading tag: #TradFi #链上美股 #PYPL
Where do you think this judgment is most likely to be wrong?