Price is falling, but the funding rate is pinned at an extreme. I read $SAMSUNG as longs crowded together, not new buyers stepping in to support the price. A 0.1575% four-hour funding rate, with the mark price at 163.13, while the 24-hour price is still down 1.15%. Price is moving lower, and it’s already very expensive to hold longs—the two sides don’t add up. There are about 81 minutes until settlement, and longs have to pay this rate first. 24-hour trading volume is $218 million, so there’s volume, but the price hasn’t held. I’m more inclined to read this as one crowded side continuing to pay. If the rate doesn’t ease over these 81 minutes, I’ll keep reading it as crowding, not an upward push.
#资金费率 #合约