$EPIC Funding rate +0.153%/4h, annualized at 335%—but this contract is being settled and delisted today. Longs are paying hefty interest on a contract that’s about to become void.
· Open interest: $3.28M, down 4.0% over 24h
· Contract volume: $20.63M, 4.7x spot volume
· Long/short account ratio: 1.25; contract down 42.1% over 7 days
This EPIC on Binance is Epic Chain, formerly Ethernity Chain. It started out with licensed NFTs, then shifted toward entertainment and real-world asset tokenization. Don’t confuse it with Epic Cash, a privacy coin. EPIC was listed on Binance last March, and spot trading is also being delisted on October 28.
The funding rate hovered around the baseline in earlier periods, only recently climbing steadily to 0.144. That suggests some traders have been actively adding longs since the delisting announcement—and after the price was cut in half. Open interest has also been gradually unwinding ahead of settlement. The remaining longs look more like a bet on a rebound, or possibly traders shorting the contract while hedging with spot and specifically aiming to collect funding. The latter seems more plausible, since shorts are the ones receiving funding. Another possibility is retail traders trying to buy the dip—in that case, the settlement price could be the final blow.
After settlement, spot trading will migrate to smaller exchanges, where spreads and slippage will only get worse. A big drop doesn’t mean it’s cheap. I treat this kind of market purely as an event trade.
#EPIC #币安下架 #Funding Rate
· Open interest: $3.28M, down 4.0% over 24h
· Contract volume: $20.63M, 4.7x spot volume
· Long/short account ratio: 1.25; contract down 42.1% over 7 days
This EPIC on Binance is Epic Chain, formerly Ethernity Chain. It started out with licensed NFTs, then shifted toward entertainment and real-world asset tokenization. Don’t confuse it with Epic Cash, a privacy coin. EPIC was listed on Binance last March, and spot trading is also being delisted on October 28.
The funding rate hovered around the baseline in earlier periods, only recently climbing steadily to 0.144. That suggests some traders have been actively adding longs since the delisting announcement—and after the price was cut in half. Open interest has also been gradually unwinding ahead of settlement. The remaining longs look more like a bet on a rebound, or possibly traders shorting the contract while hedging with spot and specifically aiming to collect funding. The latter seems more plausible, since shorts are the ones receiving funding. Another possibility is retail traders trying to buy the dip—in that case, the settlement price could be the final blow.
After settlement, spot trading will migrate to smaller exchanges, where spreads and slippage will only get worse. A big drop doesn’t mean it’s cheap. I treat this kind of market purely as an event trade.
#EPIC #币安下架 #Funding Rate