PUMP Funding Rate on Hyperliquid Turns Negative Pre-Market as Bearish Momentum Builds

BlockBeats News, July 13 — According to market data, the funding rate for PUMP’s pre-market contracts on Hyperliquid has shifted from positive to negative, with the current funding rate at -0.0017%, indicating that bearish momentum is starting to build. On Hyperliquid, the current open interest for PUMP contracts stands at $368 million, with a 24-hour trading volume exceeding $643 million.

On another exchange, PUMP’s current open interest is reported at $135 million, with a 24-hour trading volume surpassing $1.341 billion. The funding rate remains positive, and the long-short ratio among large holders, based on open interest, is 1.24, indicating that long positions still hold the advantage.