Shorts are paying longs on $AVAX at -0.0074% per 8h, and funding is negative on exactly eight of the eleven majors. When that much of the book flips, the money is not scrambling for the exit.
What makes this one worth watching is who is on the other side. The retail crowd sits 64.1% long on AVAX. The top accounts sit 69.8%. Big money is leaning harder into the long than the crowd is, and only three of the eleven majors look like that right now.
Open interest is $101.5M and climbing, up 3.37% in the last hour. That is fresh size landing, not old positions getting marked down.
So the fee flow runs from short sellers straight into the pockets of every long, all while the broader market prints red. That is who is paying whom.
What makes this one worth watching is who is on the other side. The retail crowd sits 64.1% long on AVAX. The top accounts sit 69.8%. Big money is leaning harder into the long than the crowd is, and only three of the eleven majors look like that right now.
Open interest is $101.5M and climbing, up 3.37% in the last hour. That is fresh size landing, not old positions getting marked down.
So the fee flow runs from short sellers straight into the pockets of every long, all while the broader market prints red. That is who is paying whom.