Bottom line: MNT’s funding rates have turned negative on six exchanges. Shorts are collecting funding, but positions haven’t noticeably unwound.
Bybit’s funding rate is -0.0017%, equivalent to about -1.9% annualized based on 8-hour settlements. Kraken’s rate is even lower at -0.0507%; the settlement interval isn’t specified, so I won’t calculate an annualized rate. Negative funding means shorts get paid, while longs pay to hold their positions.
Total open interest across exchanges is about $54.09 million, down just 0.85% over 24 hours. Bybit accounts for 80% and Hyperliquid 13%. Liquidations over the past 24 hours totaled just $1,209, with virtually no liquidation wave. Extreme funding rates don’t mean shorts have already exited.
Shorts are earning funding, but you haven't closed your position—will you keep holding?
View in real time: https://www.coinboss.com/zh/funding-rate