JELLYJELLY experiences extreme spot-futures price spread, with funding rates reaching extremely negative values

MarsBitNews · 2026-03-10T07:12:04+00:00

On March 10, it was reported that the JELLYJELLY contract and spot price spread reached 28%. The perpetual contract's mark price is $0.067, while the spot price is $0.092. The funding rate is extremely negative at -2%. The on-chain market capitalization is $93 million, and open interest has surged to $39.2 million. Analysts have revealed that there may be manipulation risks.

MarsBitNews

2026-03-10 07:12:04

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Mars Finance reports that on March 10, according to market information, JELLYJELLY contracts and spot prices showed an extreme price discrepancy. The current perpetual contract mark price is $0.067, while the on-chain spot price is $0.092, a difference of approximately 28%. The main trading platforms’ JELLYJELLY contract funding rate has reached an extreme negative value, currently at -2% every 4 hours. The current market capitalization of JELLYJELLY on the chain is $93 million. Additionally, according to Coinglass data, the total open interest of JELLYJELLY across the entire network has surged to $39.2 million. Analyst Ai Yi (@ai_9684xtpa) stated that the open interest of JELLYJELLY across the network has surged since around 1 PM, possibly indicating another instance of price manipulation similar to previous cases.

JELLYJELLY-18.38%

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