Conclusion first: KAVA’s funding rate has been skewed by one exchange; you can’t treat this extreme value as a consensus across the whole market.
CoinEx’s current 8-hour funding rate is 0.9789%. Annualized based on 8-hour settlement comes to about 1072%, meaning longs pay money at every settlement. But most other major exchanges are mostly only around 0.005%, and annualized based on 4-hour settlement is about 2.7%—the gap is not just a little.
KAVA total holdings across the whole network are about $13.47 million. Over the past 24 hours, it has increased by only 0.07%. Binance accounts for 65.5% and its position size has grown by 0.95%. This looks more like an outlier caused by one exchange’s abnormal fee rate; for now, it’s hard to see that longs have already crowded into a tight group.
$KAVA $BTC
Will you chase shorts because of the single high funding rate, or wait for more exchanges to catch up?
Check in real time: https://www.coinboss.com/zh/funding-rate