Solana futures open interest nears $1.8 billion as funding hits an 11-month high with SOL around $78
Solana futures open interest is close to $1.8 billion, representing about 23.1 million SOL in notional exposure. Funding rates on major exchanges’ perpetual contracts have risen to around 0.01% every eight hours, the highest in nearly 11 months, indicating traders are paying up to keep leveraged long positions. The last time funding was at similar levels, SOL traded above $200, while it is now above $70 and roughly 2.6% away from the $80 resistance level. Traders are watching whether SOL can break through $80.