early results of market param updates:
mark price bands widened, which allowed anthropic and spacex to move up quickly, as they previously were near their upper price caps
when the mark price nears the system limit of 20% deviation from the oracle, funding rates increase quickly. this incentivizes other traders to take the other side and earn higher funding
SpaceX has temporarily hit its local price cap (people are bullish). which isn’t great, but with the latest updates, the oracle will adjust faster to relieve the price cap
if you’re trying to close an underwater short right now, the best thing to do is set a limit buy at 1.2 * oracle price
PSA – you can currently short SpaceX at a ~$610B valuation, and earn 150-200% in funding while doing so (their last tender offer was at $400B)
we’ll continue to monitor and evaluate further tweaks
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