About 215 minutes remain until the next settlement. The funding rate for Binance $AXL perpetuals has dropped to -0.0905%, with settlements every 4 hours. Shorts are crowded on one side, so short positions have to pay the funding rate. The mark price is 0.05884 USDT, while the current price is 0.059, up 7.66% over 24 hours, with a trading volume of $21.69 million. The price is rising while the funding rate is clearly negative, so short sellers’ costs will continue to pile up over this interval. After this settlement, will the negative funding rate squeeze shorts even more?
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