Conclusion first: TRX shorts are not collecting rent right now—they’re actually paying extra. Binance’s funding rate is -0.0429%, which annualizes to about -46.9%; OKX is -0.0203%, annualizing to about -22.2%.
This means that in each settlement cycle, the shorts have to pay the longs. The directions are the same, but Binance is more extreme, so the holding cost for maintaining a short position is significantly higher.
The rate being very negative does not mean an immediate rebound will happen, but it does indicate that the shorts have already crowded to the same side. If you want to short, first make sure you can withstand this rental fee; and if you’re holding long positions, don’t treat the funding rate as a surefire signal—once the price goes sideways, costs will gradually shift.
Would you short TRX at this kind of funding rate, or wait for the crowded situation to loosen first?
$TRX $USDT
Check in real time: https://www.coinboss.com/funding-rate