Just jotting this down: I just saw the funding rate for $MAGIC at -0.061%—shorts are paying, which works out to about 133.6% annualized.
A negative rate means everyone is short, but overly crowded trades often reverse, so I’ll be watching for a bounce.
Do you all keep an eye on funding rates?
#MAGIC
Crypto assets can move fast, so don’t use too much leverage.
A negative rate means everyone is short, but overly crowded trades often reverse, so I’ll be watching for a bounce.
Do you all keep an eye on funding rates?
#MAGIC
Crypto assets can move fast, so don’t use too much leverage.