$SKL
SKL is up only 2.78% today, but there’s a signal in its funding data worth noting.
The current funding rate is -0.3265% / 4h—a negative rate, meaning shorts are paying longs, so short sellers are paying to keep their positions open. The price is 0.005329, with a range of 0.00504–0.005987, putting it at 31% of the range. Trading volume is 54 million U, up 6.3x from the previous period—a solid increase in activity.
A negative funding rate alongside rising volume suggests some traders are betting on a rebound. 0.005987 is the resistance level above; it needs to be cleared before there’s more to discuss. 0.00504 is today’s floor—if it breaks, the whole thesis needs to be reconsidered.
SKL is up only 2.78% today, but there’s a signal in its funding data worth noting.
The current funding rate is -0.3265% / 4h—a negative rate, meaning shorts are paying longs, so short sellers are paying to keep their positions open. The price is 0.005329, with a range of 0.00504–0.005987, putting it at 31% of the range. Trading volume is 54 million U, up 6.3x from the previous period—a solid increase in activity.
A negative funding rate alongside rising volume suggests some traders are betting on a rebound. 0.005987 is the resistance level above; it needs to be cleared before there’s more to discuss. 0.00504 is today’s floor—if it breaks, the whole thesis needs to be reconsidered.