The funding on $SLX has flipped to -0.4% every hour, and it could go even lower.
For me, shorting this coin doesn't make much sense right now. The risk is simply too high compared to the potential reward.
Imagine opening a $1,000 short and the price drops 99% in 72 hours. With funding alone at -0.4% per hour, you'd lose around 30% over those 3 days, plus trading fees. Your actual profit ends up being far smaller than the risk you're taking.
And realistically, what are the chances $SLX goes all the way to zero in the next 72 hours?
If you don't have a solid long entry, my view is simple: don't force a short. Stay patient, watch the market, and wait for a better opportunity.
For me, shorting this coin doesn't make much sense right now. The risk is simply too high compared to the potential reward.
Imagine opening a $1,000 short and the price drops 99% in 72 hours. With funding alone at -0.4% per hour, you'd lose around 30% over those 3 days, plus trading fees. Your actual profit ends up being far smaller than the risk you're taking.
And realistically, what are the chances $SLX goes all the way to zero in the next 72 hours?
If you don't have a solid long entry, my view is simple: don't force a short. Stay patient, watch the market, and wait for a better opportunity.