The annualized negative fee rate for LPT U-based Perptual Futures exceeds 7,000% across major exchanges.

According to Wu, Coinglass data shows that the LPT U denominated Perpetual Futures annualized negative fee rate exceeds 7,000% across major exchanges, with the annualized negative fee rate exceeding 9,000% on Binance, significantly subsidized from short positions to long positions, and occurring once every hour. However, amid a general market pullback, LPT has risen over 120% in the last 24 hours.