What leveraged traders are paying to hold their views.
| Concept | Explanation | |---|---| | Funding rate | Periodic payment between long and short perpetual traders. | | Positive funding | Longs generally pay shorts. | | Negative funding | Shorts generally pay longs. | | Basis | Difference between derivatives price and spot price. | | Crowded leverage | One side pays unusually high financing or holds excessive exposure. |