$ONE In this selloff, the shorts were right on direction—and the bills came along too.
In the past 24 hours, it’s down 22%, with Binance perps accounting for a $210 million share of the trading. With it dropping this hard, the shorts are still adding positions. Binance’s funding rate was smashed to -0.84%, settling every 4 hours—6 times a day. Just the short positions’ carrying cost alone is about 5%. As long as the price stays flat, the shorts keep bleeding.
The long-short ratio is almost split in half: Binance is 49.8 to 50.2. The longs haven’t surrendered, and the shorts don’t have the money to just lie back and win—they’re just waiting to see who breaks first. With fees this negative, any rebound is fuel for squeezing shorts.
Do you think the shorts still dare to hold this position in ONE?
View in real time: https://www.coinboss.com/funding-rate