4 Jumps 65% to $0.027: OI Doubles to $30M, Funding Positive
4USDT, the futures pair of the token ticker “4,” jumped 65% in 24 hours to trade near $0.0269, and the move has been backed by real money: aggregate open interest doubled to $30.4 million over the same window. The rally started from a $0.0149 low and pushed to an intraday high of $0.0285 before settling back slightly, with Binance handling most of the spot and derivative volume.
How the 65% move happened
The 24-hour range tells the story of a violent two-way session. 4 fell to $0.0149 at the low, then buyers stepped in and drove the price up roughly 90% from that bottom to $0.0285. As of the latest snapshot the token sits at $0.0269, still up 65.1% from 24 hours ago. Trading activity is concentrated on Binance, which reported over $155 million in 24-hour volume for the pair; bybit, lbank and mexc added another $85 million combined. The move is not a low-liquidity artifact: ten venues are quoting the token, and price changes cluster in a narrow band between 65.4% and 68.0% across all of them, which points to genuine broad buying rather than one thin order book.
Open interest doubled: leverage is back
The futures side is where the move gets its character. Total open interest across seven tracked venues rose 100.3% in 24 hours to $30.4 million, a pace that outran the spot price move. Binance alone accounts for 52.5% of all open positions, with its OI up 115% in the day. bybit added 163%, mexc 132% and gate 106%. The pattern is clear: new long positions opened as price climbed, and the OI build was broad-based rather than a single venue pushing the tape. A doubling in open interest alongside a 65% price gain is a textbook leveraged rally, which means the move can extend as long as new money keeps arriving.
Funding turned positive
Funding rates flipped decisively positive during the rally. The volume-weighted rate across venues sits at about 0.063% per settlement, with Binance at 0.063%, bybit at 0.075% and gate at the high end near 0.104%. Longs are now paying shorts to hold their positions, a shift from the neutral-to-negative funding seen before the breakout. Positive funding at this stage is normal for a momentum leg, but it also raises the bar: if spot buyers stop chasing, leveraged longs face a rising carry cost plus any sudden liquidation cascade, so the next few settlements are worth watching.
What to watch from here
The key risk is the leverage that powered the run. With OI up 100% and funding positive, any reversal that breaks back below $0.025 could trigger a chain of long liquidations and amplify the drop, similar to the pattern seen in other single-day movers this week. On the upside, a sustained hold above the $0.027 area with volume staying above $150 million would point to continuation toward the $0.0285 high. For traders, the concrete signal is not the price alone but the funding rate: a spike above 0.1% across Binance and bybit would signal an overcrowded long, while funding rolling back toward zero with price holding would suggest the leveraged leg is healthy rather than stretched. Data as of 14:46 Beijing time on September 5, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges.