ESPORTS Sees Extreme Perpetual Futures Basis Spread, Funding Rate Turns Negative

BlockBeats News, May 26th, according to HTX market data, the ESPORTS contract and spot market experienced an extreme price difference, reaching a peak of over 40%. The current perpetual contract mark price is $0.0478, while the on-chain spot price is $0.0392, with a price difference of about 22%. The funding rate of the ESPORTS contract on mainstream exchanges has now turned negative.

According to Coinglass data, the total open interest of ESPORTS across all exchanges surged to $48.32 million, with a 24-hour contract trading volume of $617 million. Within 24 hours, there were liquidations totaling $8.3167 million, with long positions accounting for $6.6682 million of the liquidations.