Goldfish, I thought the meme positions would unwind together.
$DOGE HL open interest is around 93.4m, with about 7.04m for the day; density 13.3. Binance is at 0.0798, up just 0.5% on the day.
$PEPE OKX long funding is capped at 0.01%; Binance is at 0.00000405, up 4.7% on the day and near the highs.
One side is sinking first, while the other is still paying to chase.
I’m betting this is a divergence, not a convergence.
#Meme分层 #PerpetualDensity
$DOGE HL open interest is around 93.4m, with about 7.04m for the day; density 13.3. Binance is at 0.0798, up just 0.5% on the day.
$PEPE OKX long funding is capped at 0.01%; Binance is at 0.00000405, up 4.7% on the day and near the highs.
One side is sinking first, while the other is still paying to chase.
I’m betting this is a divergence, not a convergence.
#Meme分层 #PerpetualDensity