Conclusion upfront: While ONE shorts are paying, they haven’t been able to hold their positions—leverage in the market is withdrawing.
Gate’s funding rate is settled over 8 hours; the annualized figure is about a 297% payback. Bybit calculates per 1 hour, and the shorts’ annualized payback is about 82%, while Binance is about 43%. Among 10 exchanges, most funding rates are negative, meaning people shorting the market have to pay the long side first.
The open position size is only $28.27 million; instead of increasing, it fell by 4.06% in the past 24 hours. Binance alone saw its positions drop by 5.63%. The more negative the funding rate and the more positions fall, it suggests that although the shorts are crowded, they aren’t willing to keep adding leverage and stubbornly hold on for now.
$ONE $BTC
The short side pays while withdrawing—would you choose to wait for a rebound or continue shorting after the rally?
View in real time: https://www.coinboss.com/zh/funding-rate