Woke up to find the sky falling. RIVER has started the classic funding fee strategy. Currently down 1500, already lost 1400u in funding fees. The funding rate is over 1% per hour, which adds up to about 25% a day, sometimes even more. If this keeps up, people with small funds and high leverage will get liquidated in a day or two because of the funding fees. As for the shorts, there are only two options: either hold on and get drained dry or cut the losses. Unless, like me, you only opened a small position and can try to hold out until the whales flip from long to short and trigger a massive drop to liquidate the longs. But there’s an interesting phenomenon: over the past few hours, large short positions have started to increase. river I’ll try to hold on a bit longer and see what happens.