Negative funding after a sharp drop—I initially thought bulls were rushing in to buy the dip. $CSOPSKHYNIX2L is currently at 3.825, down 12.49% over the past 24 hours, yet the funding rate is -0.2132%, with settlements every 4 hours. Shorts are crowded on this side, and if they keep holding their positions, they’ll have to pay the longs. There are about 239 minutes until the next settlement. With 24-hour trading volume at $9.75 million, this isn’t a particularly large market; the funding rate being pushed this low suggests there are still plenty of shorts. The price has already taken a substantial hit, but the cost is falling on the shorts. I’d rather watch whether the funding rate recovers around settlement than assume the direction is already set just because the price has dropped.
#资金费率 #永续合约