In fact, many people who play contracts do not understand the basic mechanisms of contracts. Let's talk about why it's said that short sellers are the fuel, and give an example of how a platform like Alpaca is manipulated.

A platform like Alpaca, which only has a market value of a few million at the bottom, allows the operators to control the circulating spot chips at a very low cost.

Before pulling up the price, I just need to build a huge long position in contracts and then start buying the spot market. As long as the retail investors' short positions significantly exceed my long position, they will continuously pay me the funding rate for short sellers. I use this portion of the funding rate to buy spot, which will push the contract price up. Every time a short position is liquidated, it will convert into new buying pressure for the contracts. My previously opened long position will continue to earn more and more, and the funding rate I receive will also increase, which means the funds available to pull up the spot market will also grow.

Give me a tightly controlled spot market and unlimited short sellers, and I can create something like Nvidia for you.