Conclusion first: PIPPIN longs are paying a high price. Binance’s funding rate is annualized at about 141%, while Bybit’s is only about 29%. The gap between the two platforms is huge—far apart.

Binance funding rate is 0.0645%, settled every 4 hours; Bybit is 0.0135%, also settled every 4 hours. The difference between the two is close to 5x, so you can’t judge the direction by looking at only one platform.

PIPPIN has about $17.85 million in total open long positions across the whole network. Over the past 24 hours, it increased by 7.79%, but liquidation is only about $16,000. Leverage is stacking up, but large-scale liquidations have not appeared yet. If high funding rates remain, the cost for long positions will continue to accumulate.

$PIPPIN

#资金费率 #PIPPIN # Contract market

Will you wait for funding rates to cool down, or keep chasing longs?

View in real time: https://www.coinboss.com/funding-rate