$PIPPIN touched a low of 0.273 after continuous decline, then rebounded and oscillated around 0.283. Many people in community discussions speculate that whales will exit at this price level to break even, but few have actually done the math: assuming the whale has been holding positions for over a month, the funding costs accumulated are already a substantial expense. Just covering these costs has become a luxury—unless the token price goes to zero.
What's even more painful is the funding rate mechanism itself. When going long against whales, you must resist continuous selling pressure while being eroded by hourly negative funding rates; going short faces the risk of liquidation traps, and a rebound means paying double the funding costs. Sideways markets are even worse—during negative funding periods, you're essentially burning money. This is the brutal reality of perpetual futures trading—no matter if you guess the direction correctly, funding rates relentlessly eat away at your profit margins. For retail traders and small investors, just figuring out how to deal with funding rates is already exhausting.
$PIPPIN touched a low of 0.273 after continuous decline, then rebounded and oscillated around 0.283. Many people in community discussions speculate that whales will exit at this price level to break even, but few have actually done the math: assuming the whale has been holding positions for over a month, the funding costs accumulated are already a substantial expense. Just covering these costs has become a luxury—unless the token price goes to zero.
What's even more painful is the funding rate mechanism itself. When going long against whales, you must resist continuous selling pressure while being eroded by hourly negative funding rates; going short faces the risk of liquidation traps, and a rebound means paying double the funding costs. Sideways markets are even worse—during negative funding periods, you're essentially burning money. This is the brutal reality of perpetual futures trading—no matter if you guess the direction correctly, funding rates relentlessly eat away at your profit margins. For retail traders and small investors, just figuring out how to deal with funding rates is already exhausting.