Dangerous short on Binance

The maximum spot price was 5.032:

While me maximum futures price was 3.572:

A hour later:

Two days later:

The both spot and futures prices are about 2.54.

Other markets

AUCTION has grown six-fold:

and then failed:

Futures chart:

BURGER has been delisted:

An example on how Binance sends updates on order status:

Another dangerous short

A few days later:

Futures price and founding fee:

later in the evening (30min spot and futures charts):

Chinese docs

2 Responses to Dangerous short on Binance

  1. dmitriano says:

    11:42
    so if I close FUN/USDT position within 3 hours the founding fee is not charged?

    That’s correct. Try to close it at least 2-3 minutes before the countdown is zero, ok? There’s a 1 minute deviation and if you close it too close from zero the fee may still applies

    11:42
    11:44
    position is -5000FUN, fee is -2%, so 100FUN is charged, right?

    Yes, correct. If going long, received 100 FUN.

    Actually you won’t pay or receive as contract, ok? This will be added and deducted as USDT on your position margin

    11:46
    11:47
    where this 2% go from? do they depend on the difference between spot price and futures price?

    There’s a whole complex calculation to define the funding rate, but basically saying this depend on the difference within Futures and Spot

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