$POLYX 【Fee Rate Master】 detected abnormal POLYX contract fee rate: -1.22%, here is the analysis:
Direction: Long Confidence: High
Core Logic: Extreme negative fee rate (-1.22%) requires shorts to pay high fees, but the price rebounded from a low of 0.056 to around 0.054 after a drop, leading to short liquidations, indicating strong support from spot buying, and the crowded shorts have begun to be cleaned out, forming typical short-squeeze fuel.
1. Data Dashboard
- Fee Interpretation: The current extreme negative fee rate of -1.22% means that shorts pay 1.22% to longs every 4 hours, psychologically devastating short position holders, especially when the price resists falling, which will accelerate short panic liquidations.
- OI Interpretation: The perpetual open interest of 10.37 million USD accompanied by high trading volume (84.41 million/24h) shows active capital, but combined with the negative fee rate, it leans more towards the major players using shorts to pay fees while accumulating rather than simply being bearish.
- Liquidation Interpretation: Recently, the long liquidation reached 56,100 USD (mainly during early declines), while the short liquidation was 28,500 USD (recently concentrated), shorts are in pain (forced liquidations benefiting longs), and longs have partially cleaned up after taking profits.
2. Risk Assessment
- Main Risk: Although the trading volume is high, if spot selling pressure suddenly continues, it may induce shorts in the short term before further declines; if the overall market follows the major index for a correction, contrary strategies may be easily thrown off.
- Black Swan Check: No signs of project team running away, exchange theft, or significant negative news, fundamentals are normal (institutional interest in the RWA sector continues).
3. Operational Suggestions
- Suggested Entry Zone: Current price (around 0.054) or slightly lower for additional positions
- First Take Profit Level: 0.058-0.060 (recent volatility highs, expecting a 20-30% increase to cover fee advantages)
- Stop Loss Level: 0.052 (approximately -3.7% below recent lows, strictly controlling risks to avoid deep liquidation)
(The chart is a 15m liquidation chart)
