PUMP's funding rate on Hyperliquid has turned from positive to negative, and short selling pressure is starting to accumulate.

Deep Tide TechFlow News, July 13,

According to market data, the funding rate for PUMP on Hyperliquid (https://app.hyperliquid.xyz/join/NTOD) has turned from positive to negative, with the current funding rate at -0.0017%, and short selling pressure starting to accumulate. The current open interest for PUMP on Hyperliquid is reported at $368 million, with a 24-hour trading volume exceeding $643 million.

The current open interest for PUMP on Binance is reported at $135 million, with a 24-hour trading volume exceeding $1.341 billion. The funding rate remains positive, and the long-to-short ratio based on open interest statistics is 1.24, indicating that long positions still dominate.