$ETH Open Interest is rising alongside the funding rate.
But it's not moving at an alarming rate just yet. As you can see, the OI moves at the same pace as price which is generally fine. You don't want to see OI outpacing price, that's usually when the market gets a little frothy.
Funding rates are moving up but that is to be expected after violent rallies moving into cycle highs.
All in all ETH is getting hotter but I don't see big warnign signs based on this data just yet.
