$RSR is up 60%, with a funding rate of -259%. You read that right: negative 259%.
This means shorts have to pay longs 0.71% of their position value every day. That’s 0.71% a day, 21% a month, and 259% a year. Shorts are bleeding heavily, but they’re still adding to their positions.
Compare that with $PYTH , which is also up—by 14—but has a funding rate of just 0.57%. This kind of “cool futures, hot spot market” combination is what a healthy rally looks like. It means leveraged traders haven’t entered the market yet, so there may still be room to run.
MAGIC is interesting too—it’s up 12.9%, with a funding rate of -16.67%. Shorts are still betting it will fall, but the price just won’t drop. This kind of “shorts are still in, but the price won’t fall” setup usually means shorts are going to get squeezed.
In short: don’t just look at price gains; look at the funding rate. RSR’s -259% means shorts are handing out free money, while PYTH’s 0.57% signals a healthy rally. If you’re going to chase a move, it’s safer to go for a “cool futures, hot spot market” setup like PYTH.
This means shorts have to pay longs 0.71% of their position value every day. That’s 0.71% a day, 21% a month, and 259% a year. Shorts are bleeding heavily, but they’re still adding to their positions.
Compare that with $PYTH , which is also up—by 14—but has a funding rate of just 0.57%. This kind of “cool futures, hot spot market” combination is what a healthy rally looks like. It means leveraged traders haven’t entered the market yet, so there may still be room to run.
MAGIC is interesting too—it’s up 12.9%, with a funding rate of -16.67%. Shorts are still betting it will fall, but the price just won’t drop. This kind of “shorts are still in, but the price won’t fall” setup usually means shorts are going to get squeezed.
In short: don’t just look at price gains; look at the funding rate. RSR’s -259% means shorts are handing out free money, while PYTH’s 0.57% signals a healthy rally. If you’re going to chase a move, it’s safer to go for a “cool futures, hot spot market” setup like PYTH.