$FUN I found that many people are unclear about the principles of funding rates

The funding rate for contracts being negative does not mean that there are more people shorting; this rate is merely a compensation mechanism for the difference between spot and futures prices

When the spot price is higher than the futures (perpetual contract) price, it results in a negative rate, meaning that those who short have to pay a part of the compensation to those who go long

When you are shorting fun, don't you check its spot price? It is more than ten points higher, which is an obvious short squeeze trend; why go against the trend?