Deeply negative funding rates on mid-tier L1s ≠ a window to buy the dip.
$AVAX is around -18% annualized, $OP around -19%, and $ATOM around -16%—shorts are paying rent. But longs still account for around 70% of mainstream accounts, while meme funding rates remain near +11%: getting a discount on one side while paying a premium on the other is a split in positioning, not an airbag.
Negative funding rates only mean shorts are expensive; they don’t mean a rebound is scheduled. Do you see this as a discount, or as shorts still being kept on life support?
$AVAX is around -18% annualized, $OP around -19%, and $ATOM around -16%—shorts are paying rent. But longs still account for around 70% of mainstream accounts, while meme funding rates remain near +11%: getting a discount on one side while paying a premium on the other is a split in positioning, not an airbag.
Negative funding rates only mean shorts are expensive; they don’t mean a rebound is scheduled. Do you see this as a discount, or as shorts still being kept on life support?