This afternoon, I still thought DOGE had finished flushing out—then the funding rate turned on a dime.
$DOGE Spot price: 0.0842, down 2.1% on the day.
Last period, the OKX funding rate was at the 0.01% cap; this period it flipped to around -0.003%. HL positions are about 104 million, with density at 3.8.
The fee burden shifted from longs to shorts, but positions are still hefty—
I’m betting density drops back below 3 first. If I’m wrong, I’ll watch for the funding rate to hit the cap again.
#DOGE费率 #PositionDensity
$DOGE Spot price: 0.0842, down 2.1% on the day.
Last period, the OKX funding rate was at the 0.01% cap; this period it flipped to around -0.003%. HL positions are about 104 million, with density at 3.8.
The fee burden shifted from longs to shorts, but positions are still hefty—
I’m betting density drops back below 3 first. If I’m wrong, I’ll watch for the funding rate to hit the cap again.
#DOGE费率 #PositionDensity