Conclusion first: TAO has one venue’s funding rate annualized to 769%. Longs pay rent once every 8 hours, yet their positions are still piling up.
CoinEx settles this funding rate every 8 hours, which translates to an annualized rate of about 769%. Binance and OKX are only 5.5% and 10.95% annualized, respectively. Extreme values are concentrated in a single venue and can’t be taken as market-wide consensus.
TAO total open interest across the whole network is $520 million, up 2.06% over the past 24 hours. Bybit positions are up 5.91%, and Hyperliquid is up 7.09%. However, in the past 24 hours, only $105,000 was liquidated; 82% of it was shorts. The long traders chasing the move have not been wiped out at a large scale—for now.
$TAO $BTC
The fee rate is so high—would you choose to keep buying more, or wait for it to pull back?
Check in real time: https://www.coinboss.com/zh/funding-rate