Short sellers are paying a -0.4008% perpetual funding rate, yet the top gainer over the past 7 days, $SOPH , surged +69.77% 😳. The runner-up, $DODO , rose +46.61%, while third place, $SHELL , gained +37.62%.
A negative perpetual funding rate means shorts are paying longs—the short side is overcrowded. Its 24-hour trading volume surged to nearly 4.8 times its 7-day average. Meanwhile, BTC was down -3.02% over the same 24 hours, and the broader market was falling. This token was entirely driven by its own market activity, squeezing the shorts relentlessly.
However, open interest in perpetuals fell -5.8% over the past hour, suggesting some of the traders who had been betting against it while paying high funding rates have already closed their positions and left. Anyone still holding this kind of wild token with inverted funding rates?
A negative perpetual funding rate means shorts are paying longs—the short side is overcrowded. Its 24-hour trading volume surged to nearly 4.8 times its 7-day average. Meanwhile, BTC was down -3.02% over the same 24 hours, and the broader market was falling. This token was entirely driven by its own market activity, squeezing the shorts relentlessly.
However, open interest in perpetuals fell -5.8% over the past hour, suggesting some of the traders who had been betting against it while paying high funding rates have already closed their positions and left. Anyone still holding this kind of wild token with inverted funding rates?
