Conclusion up front: the AIN funding rate is absurdly expensive—Binance’s 4-hour rate is 0.1137%, which annualizes to about 249%. Yet the shorts were liquidated by nine-tenths.
All seven exchanges have positive funding rates; the highest is Aster at 0.1547%, annualized at about 339%. People going long are clearly paying the bill for the shorts, and positions are noticeably crowded on one side.
In the 24 hours, AIN liquidated a total of $300,000, with 274,000 wiped out from short sellers, accounting for 91%. The funding rate is expensive, and the shorts are still losing—this indicates the shorts are still digging in.
Open interest increased by 119% in a day to $169.4 million, with Binance accounting for 80%. Positions are being pushed up quickly—if you chase longs, be careful about crowded reversals.
$AIN $BTC
Is AIN the quiet end of a short squeeze, or is the market just starting?
Check in real time: https://www.coinboss.com/zh/funding-rate