$IREN 24 hours up 8.735%, price reaches 41.08, but the corresponding funding rate is 0. The price increase didn’t drive changes in derivative-side costs; for now, long/short paid fees are temporarily zero.
This usually means the rally lacks leverage capital confirmation from the derivatives market. The longs haven’t paid costs to maintain their positions, so price fluctuations may be coming from the spot side or from shorter-term capital flows, and the outlook for sustainability remains questionable. The strongest counterevidence is if the price continues to rise and the funding rate turns positive in sync—then it would mean long-side costs are starting to accumulate and the rally is being supported on the derivatives side, and my assessment would no longer hold.
Trading tag: #TradFi #链上美股 #IREN
Where do you think this assessment is most likely to be wrong?
This usually means the rally lacks leverage capital confirmation from the derivatives market. The longs haven’t paid costs to maintain their positions, so price fluctuations may be coming from the spot side or from shorter-term capital flows, and the outlook for sustainability remains questionable. The strongest counterevidence is if the price continues to rise and the funding rate turns positive in sync—then it would mean long-side costs are starting to accumulate and the rally is being supported on the derivatives side, and my assessment would no longer hold.
Trading tag: #TradFi #链上美股 #IREN
Where do you think this assessment is most likely to be wrong?