Traders betting against SKR are paying continuous fees to those on the other side. Over ten minutes, negative funding rates showed heavy, persistent selling pressure.
Imagine SKR is trading at around $0.0218. A rush of traders wants to profit if the price drops. But with so many people trying to make the exact same bet, the market tilts heavily to one side.
Across ten straight minutes, a balancing fee stayed deeply negative at around -0.06%. Every minute, the fee remained locked in place, showing that bearish traders refused to let go of their positions.
Across ten straight minutes, a balancing fee stayed deeply negative at roughly -0.06%. Minute after minute, the cost did not ease up, showing that traders betting on lower prices kept piling in.
This mechanism is called the funding rate. When most traders bet in one direction, they must pay regular cash payments directly to traders taking the other side to keep prices tethered to reality.
A single fee alert can be random noise. But ten alerts in ten minutes prove that sellers are aggressively dominating the order books and are willing to lose money every hour just to keep their positions open.