Conclusion first: VTHO is up 4% today, yet the contract shorts are still stubbornly paying rebates to hold their ground.

Current price: 0.000719. 24-hour high: 0.000758. Low: 0.000686. Binance, Bitget, and Gate all show the same move, capping around 4%.

Binance funding rate is effectively paying shorts an annualized 240% rebate, while Bitget is paying them 236%—shorts have to pay longs after only a few hours. The fees burned in a single day are even higher than what many people earn that same day.

The open interest shrank 2.6% over 24 hours to $7.95 million, with Binance accounting for nearly 60%. Prices are rising, yet the funding rate is extremely skewed toward shorts. Shorts still haven’t backed down and are betting on a reversal.

$VTHO $BTC

#资金费率 #Contracts

Burning money and holding on hard—what does the short side have?

View in real time: https://www.coinboss.com/currencies/VTHO