$ZIL rates turn negative, both sides laughed too early
I just finished scanning Binance futures. The
$ZIL price is 0.003041 USDT, 24h +11.6%. It’s going up. But the funding rate has changed from +0.0000% to -0.0015%—it turned negative.
Longs think they’re winning: market cap $63.6M, 24h volume $8.1M, and the price is still climbing. Shorts also think they’re winning: the rate turned negative, short power strengthened, and short positions at higher levels have already been cashed out.
Both sides laughed too early.
Now if you hold a short, you keep paying funding. Is this “shorts are in control”? No—this is shorts paying for their own ticket.
Don’t get too comfortable, longs. OI +10.0%, 2.3M > 2.4M > 2.4M > 2.6M, adding positions all the way—adding as it rises, so costs keep getting raised. And it’s only futures contracts trading pairs, with no spot backing.
If the price doesn’t drop, the funding is negative, and positions keep increasing, the fuel for short covering is stacking up. This isn’t a near-term rebound—it’s shorts getting squeezed into getting liquidated at any moment.
Risk warning: when funding is negative, whoever can’t stand the position cost first will be the one to hand over the chips first.
#ZIL #币安 #Bitcoin