Conclusion up front: the EGLD funding rate has already diverged. Gate’s short side is effectively paying out at an annualized rate of about 96% (i.e., shorts receive), while Bybit’s long side is still collecting.
On Binance, shorts are currently charged about 13.9% annualized every 8 hours; on Bybit, longs receive about 20.3% annualized; on Gate, shorts are effectively paying out about 96.5% annualized. For the same coin, the position direction across three major platforms is not consistent—check your platform before chasing positions.
EGLD contract open positions total about $20.72 million; in the past 24 hours, they shrank by 1.9%. MEXC accounts for 30%, Binance about 20%, Bybit about 16.5%, and the positions are not concentrated on a single platform.
In the past 24 hours, liquidations were only about $12,000; longs accounted for 97%, but the amount is too small to see any large-scale cascade for now. The funding-rate divergence is more worth watching than the liquidation numbers. Before the next settlement, the party that keeps paying might loosen first.
$EGLD $BTC
Will you choose one side to receive funding fees, or wait until the fees converge first?
Check in real time: https://www.coinboss.com/currencies/EGLD