$XBI has risen 1.23% over the past 24 hours, with the current price at 165.7. But behind this price move, the funding rate is zero.
This combination of data suggests one thing: the price has edged up slightly, but longs are not paying any cost for it. The market moving higher without a clear funding tilt looks more like short covering or a small amount of spot buying driving the move, rather than a trend driven by the derivatives market.
My view is that the market is currently in a mildly imbalanced sideways structure. A zero funding rate means neither longs nor shorts are carrying an interest burden, and both sides are waiting for an external signal.
Trading tag: #TradFi #链上美股 #XBI
Where do you think this line of reasoning is most likely wrong?
This combination of data suggests one thing: the price has edged up slightly, but longs are not paying any cost for it. The market moving higher without a clear funding tilt looks more like short covering or a small amount of spot buying driving the move, rather than a trend driven by the derivatives market.
My view is that the market is currently in a mildly imbalanced sideways structure. A zero funding rate means neither longs nor shorts are carrying an interest burden, and both sides are waiting for an external signal.
Trading tag: #TradFi #链上美股 #XBI
Where do you think this line of reasoning is most likely wrong?