NEAR Jumps 9.25% to $5.26 as Longs Pay Funding in 74 of 86 Perp Markets
- —NEAR up 9.25% in 24 hours to $5.26, up 121.82% over 30 days
- —Open interest peaked at a record $1.92 billion on October 12, then fell 16.52%
- —Funding rate is positive in 74 of 86 NEAR perpetual markets
- —All seven venues with over $100 million in open interest charge longs
Why it matters: A crowded long side paying positive funding raises the risk of a rapid liquidation cascade if price reverses.
Source: CryptoTicker