On the Binance futures page, the 8-hour funding rate for $SKDD is listed as -0.0716%, with about 427 minutes until the next settlement. The part about shorts paying fees checks out; I’m not yet convinced that shorts are crowded. The mark price is 11.709 and the current price is 11.702—almost identical. If shorts were really piling in, the basis shouldn’t be this flat. The 24-hour trading volume is $13.06 million, so liquidity is on the thin side. A few large positions could drag the rate into negative territory; that doesn’t mean the whole market is crowded with shorts. And -0.0716% hasn’t settled yet—it could still flip before then. The 24-hour change is 23.41%, but looking at just one number doesn’t tell us which is leading: that move or this negative funding rate.
Would you treat this negative funding rate as a positioning signal, or as noise in thin trading?
#资金费率 #永续合约