I have investigated the Bitmex financing rate.I did it because there are anomalies in the markets caused by interest rates that are paid or charged during the night.This is known in Forex as Carry Trade and has proven effective according to several studies.Why not try something similar in the crypto?Although we do not have central banks setting interest rates here, the exchanges pay or charge a rate known as financing rate to maintain the balance between the supply and demand of their perpetual contracts.This rate is paid or charged every 8 hours.Let's call him the "8 -hour effect."It motivated me to investigate whether the traders that are long, when the financing rate is negative, would close their positions to avoid additional payments, which should increase the supply of the contract and, in theory, to lower the price.My research question was: Is there an "8 -hour effect" on Xbtusd and Ethusd contracts?The initial result confirmed the anomaly, but does not happen before the financing rate is paid or charged.Rather it happens just after the new rate is announced.I made a post "research article" on a platform, if you are interested in seeing the analysis in detail.I also have a Jupyter notebook where I performed this analysis in Python, if someone wants to replicate the investigation, let me know.
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