LUNA Notches Another ATH, Funding Turns NegativeDec 20, 2021
LUNA’s price notched another all-time high today before retracing lower. The price increase over the last few days was likely triggered by investors buying spot LUNA to lock up in the Astroport lockdrop, then hedging their position via perpetual futures to remain delta neutral.
Negative funding rates across major exchanges further suggest delta-neutral traders played a part. The current 8-hour funding rate on Binance is -0.05%, which translates to shorts paying longs ~65% APR to keep their position open.