$PHA Latest funding rate: -0.1560%, exceeding the 0.1000% absolute-value threshold.
Negative funding rate: shorts pay longs—the short side is crowded right now.
The risk isn’t direction, it’s crowding: a sharp move in the opposite direction could sweep this side first.
Is this a risk signal or just noise?

#合约数据 #PHA
Personal opinion, not investment advice.