Here’s the bottom line: INX’s Binance funding rate is an annualized -162%, meaning shorts pay longs every four hours. Bybit is the opposite, with longs paying to hold their positions.
Binance’s funding rate is -0.074%, which works out to about -162% annualized with settlement every four hours. Bybit’s rate is positive, at about 31% annualized. For the same coin, holding costs on two major exchanges have gone in opposite directions.
Total INX open interest across exchanges is about $5.71 million, up just 0.31% in 24 hours, with no major pullback in positions yet. Binance accounts for 45%, and its open interest rose 1.1% in a day, showing that bullish capital is still in the market.
When funding rates diverge, don’t just look at which number is bigger. First check which exchange you’re trading on and the settlement interval. Would you choose Binance, where you get paid, or Bybit, where you pay?
View in real time: https://www.coinboss.com/zh/funding-rate