Ф is for Funding.

What traders pay to stay in.

Bitcoin perpetual funding, annualized, live

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Source: Hyperliquid

What it is

A perpetual future never expires, so the market uses a regular payment between longs and shorts to keep its price close to spot.

When funding is positive, longs pay shorts. When it is negative, shorts pay longs.

How to read it

High positive funding means the long side is crowded and paying for the privilege. Crowded trades can unwind quickly.

General education, not financial advice. Live figures come from third parties and may be late or wrong. Cyrillic Metrics does not recommend any asset.