At this morning’s 8:00 funding settlement, when the rate hit -0.4605%, was position $CRCL being reduced or increased?
The price touched 54.91 within the same 5-minute candle. It’s now around 57.0, already below Friday’s cash close of 62.20.
▪️ Open interest: around 1.362 million at 21:00 yesterday, 1.394 million at 6:00 this morning, up to 1.539 million by 8:00, and around 1.553 million now
▪️ Long accounts are still around 82%
▪️ $COIN hit a low of 113.74 this morning. The 8:00 funding rate was -0.1668%, and its open interest rose from 132,000 at 4:00 to around 149,000
Next, will this batch of new positions unwind first, or will shorts keep paying the funding rate?
#CRCL #COIN
The price touched 54.91 within the same 5-minute candle. It’s now around 57.0, already below Friday’s cash close of 62.20.
▪️ Open interest: around 1.362 million at 21:00 yesterday, 1.394 million at 6:00 this morning, up to 1.539 million by 8:00, and around 1.553 million now
▪️ Long accounts are still around 82%
▪️ $COIN hit a low of 113.74 this morning. The 8:00 funding rate was -0.1668%, and its open interest rose from 132,000 at 4:00 to around 149,000
Next, will this batch of new positions unwind first, or will shorts keep paying the funding rate?
#CRCL #COIN