There’s something especially interesting about a poker table: sometimes one side is packed with people while the other is practically empty. The crowded side has to pay the other side a seat fee—that’s the funding rate.

The funding rate for $MINA is now -0.2896%, with the price at 0.0920. That’s already an extreme reading, which suggests the less crowded side is under a lot of pressure.

Being in the majority doesn’t necessarily mean you’re wrong, but it definitely doesn’t feel comfortable. The more extreme the funding rate, the higher the cost of holding your seat. If the price just moves sideways, those ongoing fees alone can really sting. And once someone leaves, others tend to follow quickly.

My habit is not to rush into picking a side when I see numbers like this. First, I ask: which side has the hotter seat?

A rate this deeply negative means one side is genuinely feeling the pressure. When a lot of people are in a hurry, it’s often a sign that the market may be about to move. But don’t assume the opposite side is automatically safe—the market has never been that reasonable.

I’ll be keeping a closer eye on the 0.0920 level.

#MINA