Anyone notice how Binance is manipulating the BNB price by overcharging short margin interest?
Just a small thing I noticed. As you probably know, if you want to short sell a coin on binance, you have to borrow it. Binance charges interest for this loan, of course. But if you try to look through their interest rates, one coin clearly stands out: https://www.binance.com/en/margin-fee
That coin is BNB. Its yearly interest is currently 109.5%. For comparison, if you look at almost any other coin, even much smaller, riskier coins, the yearly interest is an order of magnitude lower, something like 5 to 20%.
This is despite the fact that fundamentally the interest should probably be among the lowest, as Binance has much easier access to liquid BNB, as it's their own coin.
I can't see any other reason for this than it being designed to suppress short seller interest, and thus increasing the price. It's not that big a deal, but I thought it seemed pretty shady, and IMO it should serve as a warning sign for BNB investors as it means its market forces are at least partially manipulated.