The negative funding rate is right there, but I didn’t jump straight into a short squeeze trade. The $WDCB perpetual funding rate is -0.0621%, settled every 8 hours, with about 24 minutes until the next settlement. Shorts are paying. The mark price is 322.8 USDT, and the current price is 322.14—very close. The other numbers are what give me pause: it’s still down 5.61% over 24 hours, with $12.01 million in trading volume. Everyone says shorts are crowded, but the price hasn’t been pushed up. That drop doesn’t support the idea of an imminent squeeze. I’d rather ask: is this crowding, or just trend-following in a downtrend? In these twenty-odd minutes before settlement, the funding rate is first and foremost a holding cost.
#资金费率 #合约行情