ONE’s funding rate is extremely inverted: open interest drops 3.7% in a day, which is even more worth watching than the liquidation direction.
On Binance the funding rate is -0.3910%, Bitget -0.3949%, and LBank -0.3915%. With 4-hour settlement and annualized calculations, they’re all around -857%. A negative funding rate means shorts pay longs; every settlement is like the shorts paying rent.
Only 24 hours of ONE liquidation and the market is already over 810,000 USD. Long positions are 58,000, accounting for 71%. In the past 4 hours alone, $6,875 was liquidated, and the long/short liquidation amounts are close. The total open interest across the whole network is $34.89 million, down 3.7% in 24 hours; leverage positions are contracting.
Will you short again with shorts being paid to take the other side, or wait for the funding rate to recover first?
$ONE
View in real time: https://www.coinboss.com/zh/funding-rate