Bitcoin perp funding is negative. Arthur Hayes wants answers
Arthur Hayes of BitMEX fame is wondering who’s supplying marginal sell pressure on bitcoin perp funding rates.
Cryptocurrency news by Protos · Protos
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Show Notes
BitMEX co-founder Arthur Hayes noticed negative perp funding on several well-known exchanges such as Gate, Binance, and his own BitMEX. He attributed the negative funding rate to a wealthy 'cohort' who have been selling heavily into digital asset markets.
Perp is shorthand for 'perpetually rolling swap contract,' a popular crypto derivative. As opposed to a real swap, perps have no expiration and use a funding mechanism to anchor contracts to underlying spot prices.
Listen to this article to find out the explanations behind negative perp funding.
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