Floki continued to verify the logic. Before 8 o'clock in the morning, the spot price was still significantly higher than the futures price. After 8 o'clock, the spot price was lower than the futures price in the first second.
At the same time, the contract funding rate at 8 o'clock was -2%, and now it has continued to decline to only -1%. People who are arbitraging are gradually buying to close their shorts. At the same time, the spot market crash also made the price continue to approach the first announcement on the 20th. The price on the 20th was 0.12, and there was 0.155 last night. The lowest was only 0.125 just now. Next time you encounter this kind of thing, you should know how to make a profit.
How to make a profit?
Two opportunities, 1: When the short value is high, you can not participate in arbitrage, but turn around to buy spot or open long. 2: From the announcement to the snapshot airdrop, if the currency has a large increase far exceeding BTC and ETH. Then even if the funding rate is negative to the top, for example, -3%, there will be short opportunities after the value returns. If the potential decline percentage exceeds the upper limit of the funding rate by a large margin, there will be profit space.
