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.
May 31st 2022
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.