FARTCOIN +9.8% to $0.1787: OI Hits $157M, MEXC Jumps 44%
FARTCOIN climbs 9.8% to $0.1787 after a wide session
FARTCOIN traded at $0.1787 on Binance at the time of this snapshot, up 9.8% in 24 hours. The session swung from $0.1608 to $0.1810, a roughly 12% intraday band, and price closed near the top of it. OKX shows nearly the same picture at $0.1786, up 9.8%, with its own range of $0.1606 to $0.1809. Binance recorded about $31.5M in 24-hour spot volume and OKX another $6.1M, so the bounce has real turnover behind it rather than thin order books. Earlier in the week the asset had slid to the $0.16 area on profit taking; today's recovery is retesting the zone where sellers stepped in before.
Open interest climbs to $156.9M with MEXC the top builder
Aggregate open interest across venues rose 16% in 24 hours to $156.9M, and the composition matters more than the headline. MEXC added 44% to reach $25.2M, the strongest relative build anywhere. That is a sharp reversal for the venue, which cut roughly a quarter of its positions during the earlier pullback. Hyperliquid remains the single largest pool at $36.8M, up 18.3%, holding a 23.4% share. Bybit follows at $30M, up 12.3%, Binance at $20.8M, up 12.6%, and Bitget at $11.7M, up 9.2%. Gate added only 4.3% to $10.8M, while KuCoin was the laggard at just under 2% growth to $10M. OKX rounded out the group at $4.1M, up 10.1%.
Funding stays near zero, so this is not a crowded long yet
Funding rates remain low across the board. Binance sits around 0.008%, Hyperliquid near 0.009%, and most other venues at 0.005% or below. All are positive, so longs do pay shorts a small fee, but the level is a fraction of what builds up in a crowded squeeze trade. The combination of a 9.8% price gain plus a 16% rise in open interest with cold funding is the notable part. In a typical meme squeeze, funding spikes as late shorts are forced out and late longs pile in. Here, leverage is being added at a moderate pace while the fee stays cheap, which points to fresh positioning rather than a violent short-covering cascade.
What to watch next
The level that matters is $0.1810, today's high on both Binance and OKX. A clean break above it would open room for another leg, and with funding this low there is no obvious overheated position to unwind on the way up. The risk case runs the other way: a fade back below $0.17 would put the MEXC positions added in the last 24 hours under pressure, since that venue has proven the quickest to add leverage on strength and the quickest to cut it on weakness. Watch whether MEXC keeps building or starts flattening at the same time as price; that divergence would come before any move in the fee structure.
Data as of 11:10 Beijing time on September 6, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget, MEXC, KuCoin and other major exchanges.