🚨 Extreme negative LIT funding: Shorts are paying longs
I checked the prices this morning at $LIT and was shocked to see the 24-hour move had reached 9.02%. Even more notable, LIT funding is at a record low of around -0.0081% per hour, equivalent to -71% per year. This means shorts (those betting on prices falling) are paying very high fees to longs (those betting on prices rising) to maintain their positions.
Open Interest (the total number of open contracts) has reached around $141.45 million, highlighting LIT’s appeal, while shorts are becoming increasingly crowded and facing enormous pressure. As everyone knows, funding this skewed carries the risk that a sudden move in the opposite direction could trigger mass liquidations, forcing shorts to close their positions in a panic.
For informational purposes only, not investment advice. DYOR.
#LIT
I checked the prices this morning at $LIT and was shocked to see the 24-hour move had reached 9.02%. Even more notable, LIT funding is at a record low of around -0.0081% per hour, equivalent to -71% per year. This means shorts (those betting on prices falling) are paying very high fees to longs (those betting on prices rising) to maintain their positions.
Open Interest (the total number of open contracts) has reached around $141.45 million, highlighting LIT’s appeal, while shorts are becoming increasingly crowded and facing enormous pressure. As everyone knows, funding this skewed carries the risk that a sudden move in the opposite direction could trigger mass liquidations, forcing shorts to close their positions in a panic.
For informational purposes only, not investment advice. DYOR.
#LIT