Bottom line: Funding rates on TRX futures are negative on both major exchanges, meaning shorts are paying longs. At Binance's current rate, this works out to an annualized cost of about 0%.
Binance's latest funding rate is -0.0275%, settled every 8 hours; OKX's is -0.0200%. The rates point in the same direction, so shorts bear funding costs each settlement, though rates have not reached an extreme level.
TRX futures open interest is about $320 million, up 0.79% over the past 24 hours. With prices moving sideways, rising open interest alongside negative funding rates suggests shorts aren't exiting quickly despite having to pay. Watch for a sudden contraction in open interest.
$TRX
Shorts are piling in and paying funding as they add to their positions. Will you keep shorting or wait for the funding rate to turn positive?
Check in real time: https://www.coinboss.com/funding-rate