$ONE 24h fell 15.86%, current price 0.0024126. In the past hour, the open-position amount decreased by 4.03%, and the funding rate was -0.6779%. The price dropped while positions retreated; it looks more like long liquidation and exit rather than a new short entry. A deeply negative funding rate suggests the short side is already quite crowded. However, in the last 1 hour, the trading value is only 0.55 times the 24h hourly average, so the bearish signal under contraction should be discounted. If the price rises back above 0.0025128 (the level from 1 hour ago), then this interpretation of reducing positions and exiting would not hold. In the same batch, $PLUME rose 4.74% over 1 hour, with volume up 2.75x and open interest up 8.8%; $RIVER rose 3.41%, with volume up 4.63x and open interest up 4.46%. All of these indicate adding positions and moving upward, opposite to the ONE direction. Yet the aggressive buy/sell ratios were only 0.981 and 0.875 respectively.
#Order book anomalies