What is the funding cutoff time based on? Usually, other coins cut off every 8 hours, but this one only cuts off every 1 hour, and the 2% fee is also much higher than other coins.

🔥Many people are Shorting $MYX not because of the market but because of 'Fee Funding'

Currently, the Fee Funding rate at Binance is -2% for the time frame of 1 hour and 1 day, and you will have to pay 24 installments totaling -48%.

For example: You open a Short position on MYX for $100 with a leverage of x20, meaning your volume is $2000.

Funding -2% is = 2000 * 2% = $40/Hour. So if you open a Short position for $100, you will lose $40 every hour, totaling $960 in a day. This does not include losses due to the position. It’s really harsh.

On the other hand, if you are Long. Then with a Long position of $100, you will receive $40 every hour and $960 in a day, not including interest on the position.

🔹Funding is a double-edged sword... especially a very sharp one for the Short team. There’s nothing more to say, except to express condolences to those who accidentally went short on these stocks. If you don’t cut early, it’s really going to hurt, losing both the position's negative money and the funding.