BCH surged nearly 28% in a day, but the spot, futures, and funding rates you see are not the same number.
After news broke that CME futures were launched, many people immediately used one price increase to explain the entire move. The problem is that the latest spot price, the perpetual contract mark price, the index price, and the funding rate are four different timelines by nature:
1. Spot updates with trades;
2. The contract mark price may incorporate the index and a smoothing mechanism;
3. Funding rates are settled on a periodic basis;
4. Open interest reflects positions, not trade direction.
If you compress them into a single line, it’s easy to draw the false conclusion that “all markets confirm the move in the same direction.” When I handle events like this, I store prices, funding rates, open interest, and timestamps in separate fields, then check separately who changed first and who is merely following.
When the same event shows different percentage gains, which one do you usually trust?
A: Latest spot price
B: Perpetual contract mark price
C: Index price
D: First verify the timestamps
#BCH #合约数据 #行情数据 #Python #数据控
After news broke that CME futures were launched, many people immediately used one price increase to explain the entire move. The problem is that the latest spot price, the perpetual contract mark price, the index price, and the funding rate are four different timelines by nature:
1. Spot updates with trades;
2. The contract mark price may incorporate the index and a smoothing mechanism;
3. Funding rates are settled on a periodic basis;
4. Open interest reflects positions, not trade direction.
If you compress them into a single line, it’s easy to draw the false conclusion that “all markets confirm the move in the same direction.” When I handle events like this, I store prices, funding rates, open interest, and timestamps in separate fields, then check separately who changed first and who is merely following.
When the same event shows different percentage gains, which one do you usually trust?
A: Latest spot price
B: Perpetual contract mark price
C: Index price
D: First verify the timestamps
#BCH #合约数据 #行情数据 #Python #数据控
