$OGN In the first two posts, the focus was whether the funding rate could retreat from the deep negative zone back to around zero. This round is almost done: the latest reading is -0.0372%, and it’s already been brought back to the zero line, only slightly on the negative side.
But the price didn’t stop. The current price is 0.0508 USDT, about 24% higher than the 0.04087 from the previous post. The 24-hour unrealized P/L went from +87.3% to +115.9%. Over the most recent four hours, it net surged 27.4%, and in the last hour alone it’s still up +6.1%. The prior high point at 0.04596 that the previous post was watching has been pushed through this round, and the four-hour high has been rewritten to 0.05287.
Volume is rising along with it: the 24H trading value is about 50.51 million USDT, up about 42% from the previous post’s roughly 35.54 million.
The contradiction is right here. In the first two posts, the price was pushing up while the cost side was still being pinned down deep in the negative zone; in this round, the cost side has pulled back close to the zero line, yet the price is opening another leg up instead. The funding cost is no longer biased to either side, but the price is still accelerating.
You can verify it in two places going forward: if it reclaims and holds above 0.05287, then this upswing can be said to be opening another leg; if it falls back below 0.04744—the low of the past hour—then this recent acceleration will loosen for now. The next funding-rate settlement is at 08:00 Taipei time. If the reading continues to hover around the zero line, the cost side stays neutral; only when it clearly tilts to one side does the direction truly choose.
There’s also a bearish scenario to keep in mind: over this four-hour window, it’s moved from 0.03764 to 0.05287, a high-low spread of about 40%. After a sharp surge, the swings are naturally large, and the pullback might just be giving back part of this move—the direction still may not have been truly decided.
#Market Highlights
But the price didn’t stop. The current price is 0.0508 USDT, about 24% higher than the 0.04087 from the previous post. The 24-hour unrealized P/L went from +87.3% to +115.9%. Over the most recent four hours, it net surged 27.4%, and in the last hour alone it’s still up +6.1%. The prior high point at 0.04596 that the previous post was watching has been pushed through this round, and the four-hour high has been rewritten to 0.05287.
Volume is rising along with it: the 24H trading value is about 50.51 million USDT, up about 42% from the previous post’s roughly 35.54 million.
The contradiction is right here. In the first two posts, the price was pushing up while the cost side was still being pinned down deep in the negative zone; in this round, the cost side has pulled back close to the zero line, yet the price is opening another leg up instead. The funding cost is no longer biased to either side, but the price is still accelerating.
You can verify it in two places going forward: if it reclaims and holds above 0.05287, then this upswing can be said to be opening another leg; if it falls back below 0.04744—the low of the past hour—then this recent acceleration will loosen for now. The next funding-rate settlement is at 08:00 Taipei time. If the reading continues to hover around the zero line, the cost side stays neutral; only when it clearly tilts to one side does the direction truly choose.
There’s also a bearish scenario to keep in mind: over this four-hour window, it’s moved from 0.03764 to 0.05287, a high-low spread of about 40%. After a sharp surge, the swings are naturally large, and the pullback might just be giving back part of this move—the direction still may not have been truly decided.
#Market Highlights