$SOPH 24 hours surge up 106.975%, price 0.010593, but the funding rate is only -0.02%, with open interest reaching 2599570597.
Fact: A sharp price rise coexists with a negative funding rate. Inference: This is often the initial signal of a short squeeze. However, the absolute value of the -0.02% negative funding rate is not large, suggesting the squeeze has not yet become severe; the main shorts may still be holding up positions or choosing to exit slowly.
Fact: A sharp price rise coexists with a negative funding rate. Inference: This is often the initial signal of a short squeeze. However, the absolute value of the -0.02% negative funding rate is not large, suggesting the squeeze has not yet become severe; the main shorts may still be holding up positions or choosing to exit slowly.