Bottom line: OGN’s funding rates are negative across all nine exchanges, with shorts generally paying longs. Binance’s annualized rate is close to 473%—this is far more than a slight bearish tilt.
Binance’s 4-hour funding rate is -0.2159%, equivalent to an annualized rate of about -473% at the current pace; Bybit’s 8-hour rate is -0.2664%, or about -292% annualized. Shorts have to pay longs at every settlement, making it very costly to hold their positions.
None of the nine exchanges has a positive funding rate, but the size of the payments varies considerably by venue. If bears want to keep betting on a decline, they’ll have to keep paying to maintain their positions; if prices stop falling, crowded positions could start unwinding first.
$OGN $BTC
Short sellers are willing to pay this much every day—would you dare to follow suit and go short?
View in real time: https://www.coinboss.com/zh/funding-rate