Going long is no longer cheap. $SNXXB On Binance SNXXUSDT perpetual, the funding rate has reached 0.0715%, settled every 8 hours. Longs are crowded, and the cost of going long is rising. The mark price is 14.12 USDT, while the current price is 14.14. It’s up 1.95% over 24 hours, with a trading volume of $12.43 million. There are about 212 minutes until the next settlement. If the rate holds, holding a long position will incur a fee at each settlement. This only means that costs are higher and positions are somewhat crowded; it doesn’t mean the price will necessarily move in any particular direction.
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