Shorting Quant Amid its Record-Breaking Price Surge
Quant (QNT) has experienced an unusually steep price surge within a short period. In just six days, its price rose from around $64 to an intraday high of $373 on Binance, almost sextupling. As the token's value recovered to around $292 as of September 30, many are wondering how to bet on a decline.
Shorting Quant can be done through perpetual futures contracts on various exchanges, including Binance (USDT futures), Bybit, OKX, Bitget, Kraken Futures, MEXC, and BingX. These contracts allow for high leverage, with Bybit permitting up to 75 times leverage.
Another option is the margin short on a spot exchange, where you can borrow QNT, sell it, and buy it back later. However, this method is only available on Kraken for the QNT/USD pair with two or three times leverage.
The biggest risk in shorting Quant is the potential for a short squeeze, which occurs when many shorts are closed simultaneously, driving the price further up.