Conclusion first: TRUMP’s position increased by 11% in a day, while major exchanges are pulling liquidity. Shorts still have to subsidize at an annualized 66% to 73% fee rate.
Total net futures open interest across the market is about $195 million, up 11.04% over 24 hours. However, Binance’s open interest fell by 2.17%, OKX only rose by 1.4%, and Bybit dropped by 0.71%. Funding hasn’t moved in sync—more like a few platforms are propping up the scene.
More interesting fee structure: Binance short pays 0.0302% every 4 hours, while Bybit pays 0.0337%. Annualized equivalents are about 66% and 73% respectively. There’s no clear price surge, yet shorts keep paying continuously, and the cost of continuing to chase shorts is already not low.
$TRUMP $BTC
Is this wave the shorts about to give up, or does the bulls also lack confidence to take over?
View in real time: https://www.coinboss.com/currencies/TRUMP