$ACE has been paying negative funding for a month. The squeeze came, the funding never left.
{future}(ACEUSDT)
Funding has sat on the negative side almost without a break since July 19.
And the expected thing happened. A move that started at 0.065 ran to 0.37 on August 14. Roughly six times. The squeeze worked, and price crashed back to 0.17 the same day.
Normally the story ends there. The trapped side gets liquidated, funding returns to zero, the picture normalises.
It did not. Today it is ...