$BTC Bitcoin's perpetual funding rate has risen from around 3% to 10% since September 30, as open interest increased by 27,000 BTC to approximately 653,000 BTC, or $56.2 billion, per CoinGlass.
Bitcoin climbed from around $83,500 to $86,500 over the same period.
The Cost of Holding Longs Has Tripled
Funding is a periodic payment exchanged between traders holding long and short positions, designed to keep perpetual futures prices close to spot. When funding is positive, longs pay shorts.
At 10%, traders are paying more than three times what they were two days ago to maintain bullish exposure.
That cuts two ways. Willingness to pay signals conviction, and a market where longs accept rising costs is one where demand for upside exposure exceeds the supply of counterparties.
$BNB
$SOL
#G7PlansToReleaseUpTo100MBarrelsOilDiesel
#ICBASuesOCCOverCryptoBankCharters
#ZcashFalls21%FromSeptemberPeak
#BlastToGraduallyShutDownItsL2Network
#XRPPostsFirstThreeGreenMonthsInQ3
😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍
Bitcoin climbed from around $83,500 to $86,500 over the same period.
The Cost of Holding Longs Has Tripled
Funding is a periodic payment exchanged between traders holding long and short positions, designed to keep perpetual futures prices close to spot. When funding is positive, longs pay shorts.
At 10%, traders are paying more than three times what they were two days ago to maintain bullish exposure.
That cuts two ways. Willingness to pay signals conviction, and a market where longs accept rising costs is one where demand for upside exposure exceeds the supply of counterparties.
$BNB
$SOL
#G7PlansToReleaseUpTo100MBarrelsOilDiesel
#ICBASuesOCCOverCryptoBankCharters
#ZcashFalls21%FromSeptemberPeak
#BlastToGraduallyShutDownItsL2Network
#XRPPostsFirstThreeGreenMonthsInQ3
😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍