Bottom line: QNT funding rates have plunged to an annualized -289%, meaning shorts are paying longs. Yet long liquidations still made up 76% of the 24-hour total, so even those chasing longs weren't spared.
Binance's latest 8-hour funding rate is -0.264%, equivalent to about -289% annualized. Bybit is negative too, at around -189%. Negative funding means shorts pay, but it doesn't guarantee a price rise—it only indicates that holding costs have shifted sharply against shorts.
QNT liquidations totaled $1.59 million over the past 24 hours, including $1.21 million in long liquidations. Over the past 4 hours, liquidations totaled $171,000, with longs accounting for 45%—the market is shifting from one-sided long liquidations to a back-and-forth shakeout.
Open interest across the market is $162 million, down 5.67% over the past 24 hours. Positions are unwinding, yet funding rates remain extreme. Would you take the funding payments, or wait for positions to stabilize?
View in real time: https://www.coinboss.com/zh/funding-rate