IP Contract Price on CEX is approximately 10% higher than Spot, Funding Rate has reached its maximum negative value

BlockBeats News, February 20th, according to Coinglass data, the current price difference between the IP futures contract on CEX (3.1 USD) and spot (3.4 USD) is about 10%. Moreover, the funding rates for IP futures trading pairs on major CEXs have all reached the lowest limit, indicating that the vast majority of traders in the market are shorting IP (or hedging), including:

· Binance with a rate of -2% and a position size of 52 million USD

· Bybit with a rate of -0.75% and a position size of 48.91 million USD

· OKX with a rate of -1.5% and a position size of 40.49 million USD

The total open interest for IP contracts across all platforms has reached 213 million USD, with a 24-hour contract trading volume of 3.62 billion USD.