Conclusion first: the three major DOT trading platforms all have negative fee rates—shorts are paying. OKX is the strongest, with an annualized rate of about 25%.
Based on each platform’s actual 8-hour settlement converted to an annual rate: Binance’s short positions are paying about 6.2% annualized, Bybit about 11.8%, and OKX about 25.3%. A negative fee rate means shorts are paying longs—short positions are effectively paying rent every day.
Total holdings are about $174 million, up 3.64% over 24 hours. But Binance’s holdings actually decreased by 5.69%; OKX increased by 2.41%. Looking at only total holdings across the whole network can lead to a misjudgment.
Don’t just chase shorts because a platform is effectively paying you to. First check whether your own leverage can withstand the settlement costs.
$DOT
Will you wait for the funding rate to converge, or keep betting in your own direction?
Check in real time: https://www.coinboss.com/currencies/DOT