A negative funding rate should theoretically push the price down, but $RLC is still trading above the mark price. The 4-hour funding rate has reached -0.0959%, with shorts crowded on one side and paying to stay short. The mark price is 0.7042, while the current price is 0.7055, and it’s still up 1.05% over 24 hours.
I’m focusing on who’s bearing the cost. There are about 185 minutes until the next settlement, and 24-hour trading volume is $18.94 million, so the market isn’t inactive. Shorts are paying funding, yet the price hasn’t broken down. I’m more inclined to see this as a one-sided, crowded trade than as a decline that’s already underway. If the rate stays negative, shorts keep bleeding every four hours—that’s the pressure I’ll be watching.
#资金费率 #合约
I’m focusing on who’s bearing the cost. There are about 185 minutes until the next settlement, and 24-hour trading volume is $18.94 million, so the market isn’t inactive. Shorts are paying funding, yet the price hasn’t broken down. I’m more inclined to see this as a one-sided, crowded trade than as a decline that’s already underway. If the rate stays negative, shorts keep bleeding every four hours—that’s the pressure I’ll be watching.
#资金费率 #合约