PAXG contract daily trading volume reaches $22.72 million, with the gold token surpassing BNB and AAVE

PriceOracleFairy · 2026-01-21T03:42:11+00:00

In the past 24 hours, the gold token PAXG has performed outstandingly on Hyperliquid, with a contract trading volume of $22.72 million, ranking eighth. Its contract open interest also exceeds $86.85 million. The market's widespread bearish sentiment has led to a negative funding rate, where shorts pay longs, reflecting a pessimistic market mood while providing some compensation to holders.

PriceOracleFairy

2026-01-21 03:42:11

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【Blockchain Rhythm】In the past 24 hours, the performance of the gold token PAXG on Hyperliquid has been quite interesting. According to data monitoring, its contract trading volume reached $22.72 million, ranking eighth, surpassing LIT, BNB, and AAVE.

In terms of holdings, PAXG’s contract position has reached over $86.85 million, which is still a significant amount. Interestingly, the funding rate is now negative at -0.0032%, indicating that the market’s shorts are paying the longs.

Why is this happening? It’s quite understandable. When the market is generally bearish, shorts will dominate, and the funding rate turns negative. Although longs are trapped, they can collect some fees from shorts every 8 hours as compensation. The more pessimistic the market sentiment, the deeper this negative rate can become. This mechanism is quite clever, as it ensures market balance while providing some reassurance to holders.

PAXG1,19%

BNB-0,75%

AAVE4,7%

LIT10,1%

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