If you want to short $MYX , pay attention to the funding rate. This coin settles the funding fee every hour, meaning that regardless of whether it goes up or down, your margin will be deducted by two points every hour!
A negative funding rate indicates that there are more short positions open, which means the price of the coin is unlikely to drop and may actually rise! Holding a short position means you are losing on the position itself while also losing on the funding fee. Some people think of opening a small position as a gamble; in such cases, the funding fee loss can exceed the loss from the position! You can see that in your USDT-based funding costs! So don’t mindlessly short.
After the Bitcoin reached a new high, many newcomers have joined, and many do not understand how to read the funding rate. They open contracts mindlessly, relying on luck. This will eventually lead to the loss of all funds!
