The bottom line: OGN is up 33% in a day, Binance shorts are paying an annualized funding rate of 294%, and open interest has surged 87%—both chasing the rally and holding firm are heating up.
Binance’s latest 8-hour funding rate is -0.268%, equivalent to about -294% annualized. Gate is also negative, at around -261% annualized. A negative funding rate means shorts pay longs.
OGN is currently around $0.0415. It’s up about 33% on Binance, Bybit, and Gate. Open interest across all platforms has risen to $25.38 million, up 87% in 24 hours. Of the $940,000 in liquidations, longs and shorts accounted for nearly equal shares, with both sides increasing leverage.
$OGN $BTC
Shorts are already paying out of pocket—how much longer can momentum traders hold on?
View in real time: https://www.coinboss.com/zh/funding-rate