Accounts are already leaning long, yet the funding rate remains very low. $PONS is currently at 0.3603 USDT, with a perpetual funding rate of 0.0050% settled every 4 hours, so the cost paid by longs is minimal. The account long/short ratio is 1.62, while the top-trader position long/short ratio is 2.12, indicating that top traders’ positions are more concentrated on the long side than those of regular accounts. Open interest in perpetuals is about 95,870,601 tokens, equivalent to approximately $34.54 million. The price is holding at 0.3603, the funding rate has not significantly raised the cost of holding long positions, and notional open interest has reached approximately $34.54 million. For now, watch whether the funding rate moves away from 0.0050% and whether the top-trader position long/short ratio remains above the account long/short ratio.
#PONS #Funding rate