-0.0568%—that’s the current funding rate for Binance’s Origin Protocol ($OGN ) USDT perpetual contract, settled every 4 hours. Shorts are crowded, and short positions have to pay the funding fee. The mark price is 0.03426 USDT, the current price is 0.03437, and the 24-hour change is -0.72%. The next settlement is in about 25 minutes, and 24-hour trading volume is $40.43 million. A negative funding rate means shorts pay longs at settlement, not the other way around. The price is only slightly lower on the day, but the funding rate has clearly tilted toward the short side.
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