Conclusion up front: ZEC longs are paying rent at high prices. The most extreme platform fee rates, when annualized, come to nearly 181%; every settlement is effectively paying the shorts.
CoinEx’s current fee rate is 0.165%, and with an 8-hour settlement interval, the annualized figure is about 181%. HTX is also up to 26.6% annualized. But Binance and OKX only have mildly positive funding rates, which suggests the pressure is concentrated on a few platforms—not the entire market crowded together at once.
This kind of fragmentation looks more like local multi-head clustering; you can’t just treat it as a whole-network directional signal. If you’re holding long positions on a high-fee-rate platform, first work out your position cost—don’t just watch the price.
$ZEC $BTC
Will you keep holding onto this funding fee just to chase the pump?
Check in real time: https://www.coinboss.com/zh/funding-rate