Bitmex bears wont like this lolpic.twitter.com/qc5vh1HgAm
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Any idea how that's calculated? on open interest?
Wait, so if I open a long, I get paid .1417% on the rollover time, which I think is every 8 hours?
Yes, but funding can change so you have to keep up with it. Basically the funding is there to entice people to take counter-trend positions and keep the swap trading close to the actual price.
In this case there are too many people shorting, so the price is below spot, and they need more people to long to bring the price up. What I usually do is take a high levered position on swaps to gain funding and take an opposing position on futures to offset any losses.
I don't think many people do it because the returns are low (in the crypto world). For example I had a short open from Feb 27 to today. The total funding I got over that time was 1.8327%, but I was 10x so my actual return on equity was 18.33% over 9 days.pic.twitter.com/fqUStUZNw1
Well thats pretty damn good
Could you elaborate just a little more please? Pay fees you mean?
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