Shorts squeezed? BTC denominated open interest in perps blasted through 300,000 BTC prior to pump

We’re now five days away from half a year of funding rates at or below neutral. Meanwhile, perp OI remains bloated at near all-time highs just below 300,000 BTC.


Futures basis remains low but sees a slight growth following recent strength in bitcoin.

FTX still trades at a +1% premium to the Binance futures, a deviation that has now held for nearly three weeks since the May 12th crash.

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