DOT is down about 2%, but the funding rates are pulling in opposite directions: around −1.11e-4 (−111 milli) on Binance and +1.0e-4 (+100 milli) on Bybit.
Price comparison: Binance around 1.0027 (−2.385%), OKX around 1.0028 (−2.328%); total open interest is about 186 million. The OKX funding rate is around −1.85e-5. BTC is around 79,631 on Binance (−1.185%) and 79,649 on OKX (−1.160%).
The price is falling, yet longs are getting paid on one exchange while shorts are still paying fees on the other—that stands out more than the price move alone.
Negative 111 milli versus positive 100 milli—which side do you think is setting the price, or are positions on the two sides simply imbalanced?
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