$SPCX over the past 24 hours dropped by nearly 4%, to 148.13, but the funding rate is stuck at zero, with no signs of a squeeze between longs and shorts. In the on-chain U.S. stock sector, moments when the price gets hammered but both sides stay quiet are uncommon. According to the funding-rate rule of thumb, when funding goes to zero it usually means leveraged speculative positions have already been largely flushed out; price volatility then depends more on spot or the underlying asset itself.

From the data, volume is over 12.4 million, while open interest is under 4,700 contracts, indicating the derivative market depth for this instrument is still very thin—small amounts of capital can trigger large swings in price.

Trading tag: #BinanceFutures #TradFi #USDⓈM #SPCX #SPCXUSD1 $SPCX