$TEM has risen 6.93% in the past 24 hours, but the funding rate for perpetual futures has stayed at zero. A zero funding rate means neither long nor short pays the other, leaving the market stuck in a stalemate at key levels. Current open interest is 4,355.79 lots—this is not a small size—indicating positions are building, but the direction is still unclear. The zero-funding equilibrium is fragile; a breakout in either direction could trigger one-sided stop-losses, amplifying volatility. If, in the next 24 hours, the funding rate remains at zero and price continues to trade in a tight range, my judgment will no longer hold, and I’ll switch to waiting and watching.

Trading tag: #TradFi #链上美股 #TEM

Where do you think this thesis is most likely to be wrong?