people quoting that binance tick from last night know its the less liquid tether collateralized future right? the normal (inverse) ones did just fine
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I *believe* the reason the spike only happened in tether margined perps was 1. higher leverage there 2. shorts get their ass kicked more in linears, since in the inverse your collateral rises in value when the price spikes, which doesn’t happen in linears
Similarly leveraged longs get their asses kicked in inverse since the collateral falls in value at the same time as you’re taking losses on the futures
