SKHX Long Funding Rate Surges 37.5% Amid $120M OI Increase

SKHX price drops 8% while open interest rises to $5.71B and long funding rates jump 37.5%, signaling aggressive leveraged long positioning despite bearish price action.

Woofun AI data shows that SKHX trades at $921.3, reflecting an 8% intraday decline, while 24-hour volume reaches $15.23 billion. Open interest expands to $5.71 billion, marking a $1.20 billion daily increase from the previous $4.43 billion level. The hourly funding rate stands at +0.0431%, with the 24-hour cumulative rate rising 37.5% to +0.3948%, increasing costs for long holders. Whale positions exceeding $1 million show a 1.24:1 long-to-short ratio, with longs leading by $2.82 billion.

However, the top 10 addresses hold $172 million (30.5% of OI) with a 0.43:1 long-to-short ratio, indicating bottom-fishing activity is concentrated among smaller holders rather than top entities.