About 139 minutes until the next settlement. The 4-hour funding rate for Binance Futures perpetual $BERA has fallen to -0.0646%. The current price is 0.2066, down 13.41% over 24 hours, while the mark price is at 0.2058—there’s almost no gap between them. The rate has turned clearly negative, and shorts are getting more crowded; holding a short means paying funding to the longs. 24-hour trading volume is $23.44 million, so the order book isn’t exactly quiet, but this negative rate is already quite steep. Before the next settlement, will crowding push it even lower, or will the price squeeze the shorts first?
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