Funding rates on Solana perpetual futures have reached their highest level since September 2025, with long positions paying to keep prices aligned with spot. Futures open interest stands at roughly $1.8 billion, equivalent to approximately 23.1 million SOL in notional exposure. SOL is trading in the upper-$70s, just 2.6% away from the key $80 technical level. The last time traders paid this much to hold leveraged long positions, SOL was trading above $200, highlighting the aggressive positioning relative to the current price. The key test will be whether SOL clears $80 with real spot demand support, or whether leverage turns into a costly unwind.
Source: Read the original article
