$ALPACA current price 0.28893, medium open interests (5 mins chart) but it's very high on 12 hours chart, short positions 67.96%.
With very high funding fee -2% every 1 hour (~48% per day). If you sell short $100 with leverage x10, your size will be $1k, and you must pay $480 for funding fee, it will burn out your capital.
As you guys don't know when it drops, so don't sell short. The only recommendation from me is using HEDGE MODE that open both long and short position.
When you lost money on funding fee for short position, but you still earn funding fee from long position. Set SL and TP eligible with some percentage, and if it huge drop suddenly. You will earn much more.
Read more HEDGE MODE https://www.binance.com/en/support/faq/detail/360041513552