Something feels a little off.
$SKUU is currently at 19.73, up just 3.95% in 24 hours, yet the funding rate has climbed to 0.0760%. Funding is settled every 8 hours, and the next settlement is about 191 minutes away.
The headline makes a strong case that longs are crowded and going long is getting more expensive. I checked the numbers we have: the mark price is also 19.73, exactly in line with the current price, so the spread isn't adding further pressure; 24-hour trading volume is $5.51 million, and the market isn't very deep. Could the high funding rate simply be the settlement price being pushed around by thin trading, rather than positions really piling up? If the rate drops during these 191 minutes but the price holds firm, the crowded-long argument looks even shakier. Which do you trust more: the funding rate, or this relatively low trading volume?
#资金费率 #合约
$SKUU is currently at 19.73, up just 3.95% in 24 hours, yet the funding rate has climbed to 0.0760%. Funding is settled every 8 hours, and the next settlement is about 191 minutes away.
The headline makes a strong case that longs are crowded and going long is getting more expensive. I checked the numbers we have: the mark price is also 19.73, exactly in line with the current price, so the spread isn't adding further pressure; 24-hour trading volume is $5.51 million, and the market isn't very deep. Could the high funding rate simply be the settlement price being pushed around by thin trading, rather than positions really piling up? If the rate drops during these 191 minutes but the price holds firm, the crowded-long argument looks even shakier. Which do you trust more: the funding rate, or this relatively low trading volume?
#资金费率 #合约