NEAR funding rate turns negative, open interest rises 9.5%
I just checked Binance Futures, and something looks off with NEAR: it’s now at 5.309 USDT, up 15.3% over 24 hours, with $960.2M in trading volume. Yet the funding rate has dropped from +0.0005% to -0.0001%, turning negative.
Bulls think they’ve won: a 15.3% gain and nearly a billion in volume. Bears think they’ve won too: the rate is negative, so bearish pressure is strengthening.
But open interest went from 261.0M to 251.0M, then 276.0M and 285.7M—a net increase of 9.5%. Real money is still entering positions as the price rises. The battle between bulls and bears is intensifying; this isn’t a low-volume fake rally.
A negative funding rate doesn’t mean bears have taken over. It just means the cost of holding short positions is rising. With the price high and funding in negative territory, if a spark sets off short covering, the first ones to get burned will be those chasing the short.
Both sides think they’re in control of the script. Leverage is the first to pay.
Risk warning: Funding rates are a cost, not a direction. If your position can’t withstand volatility, being right won’t help.
#NEAR #币安 #Bitcoin
I just checked Binance Futures, and something looks off with NEAR: it’s now at 5.309 USDT, up 15.3% over 24 hours, with $960.2M in trading volume. Yet the funding rate has dropped from +0.0005% to -0.0001%, turning negative.
Bulls think they’ve won: a 15.3% gain and nearly a billion in volume. Bears think they’ve won too: the rate is negative, so bearish pressure is strengthening.
But open interest went from 261.0M to 251.0M, then 276.0M and 285.7M—a net increase of 9.5%. Real money is still entering positions as the price rises. The battle between bulls and bears is intensifying; this isn’t a low-volume fake rally.
A negative funding rate doesn’t mean bears have taken over. It just means the cost of holding short positions is rising. With the price high and funding in negative territory, if a spark sets off short covering, the first ones to get burned will be those chasing the short.
Both sides think they’re in control of the script. Leverage is the first to pay.
Risk warning: Funding rates are a cost, not a direction. If your position can’t withstand volatility, being right won’t help.
#NEAR #币安 #Bitcoin