CXMT Funding Rate Approaches \-0.59% Per Hour, On-Chain Short Positions Still Significantly Dominant

BlockBeats News, July 28th, according to Hyperinsight Monitoring, the CXMT predicted funding rate once dropped to -0.5887% per hour. A negative rate means shorts pay longs. Calculated with a $10,000 nominal position, the short position cost is approximately $58.9 per hour, or around $471 for 8 consecutive hours.

As of the time of writing, the predicted rate has rebounded to -0.4731% per hour, corresponding to a payment of about $47.3 per hour for a $10,000 short position. This value is not yet settled; if maintained until settlement, it will be lower than the previous record low settled rate of -0.3746%.

The average rate for the past 24 settled hours is about -0.0813%, with a cumulative payment of around $195 for a $10,000 short position. The current CXMT mark price is around $6.72, representing a discount of about 6.6% from the $7.19 oracle price, with a 24-hour trading volume of approximately $166 million.

Among large holders with positions over $1 million, there are a total of 6 longs and 5 shorts, with a long-short ratio of 1.2 to 1. However, the long and short position amounts are approximately $18.122 million and $25.438 million, respectively, with the short position still 40.4% larger. The weighted average long position price is around $6.58, with the most recent liquidation line at $6.24, representing a 6.9% decrease from the current price of around $6.70.