A crypto trader who shorted RAVE at its peak of $19 per token experienced a staggering loss of 3,963% despite the token's price dropping to $14.70, due to extremely high negative funding rates on ByBit that drained their collateral faster than they could profit from the declining price. This highlights the extreme risks associated with leveraged shorting in volatile crypto markets and underscores the importance of considering funding costs when trading futures contracts.
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