Are we preparing for 2023 crash or its a trap ? Opinions?
You can not use funding rate to determine what the price of bitcoin would be in 2023 first quarter. My advice to people is to just buy more coins.
I looked into this and it seems Bybit is the only exchange with funding rates this high. All others are flat at 0.01. Looking at the open interest there is very little change. So no idea what to make of it.
I checked Binance, OKX, Huobi and Kucoin, the funding rate is at 0.01% all at the four exchanges.
Looks like maybe a glitch on how they calculate the mark price or just a low liquidity period where a mid size trader can cause the funding to change this might with a mid sized order.
Probably, but that is too high.