Conclusion first: FET shorts are hard-holding while effectively paying money out of pocket. CoinEx’s funding rate has been pushed down to -1.5%; using an 8-hour settlement and annualizing, that comes to an effective annualized cost of 1643%.

This isn’t ordinary negative funding. Binance is about +0.01%, OKX about +0.005%—yet on a single platform, FET shows an extreme reverse rate. That suggests short positions are crowded together and you can’t treat this as the whole market being bearish.

Shorts have to pay longs rent every 8 hours. The longer they hold out, the higher the cost. If the funding rate returns to normal, it means the crowded short positions are starting to loosen; if it continues to expand, be wary of a violent short squeeze.

$FET $BTC

#资金费率 #FET

Will you chase longs by paying the shorts’ rent, or wait for the funding rate to cool down first?

View in real time: https://www.coinboss.com/funding-rate