Solana Traders Pay 11-Month High Rates to Defend $78 Amid $1.8 Billion Leverage Trap

Traders on Solana are paying an 11-month high rate of 0.01% every eight hours to hold leveraged long positions, which has reached its highest level since September 2025, according to Velo data.

The aggregated funding on SOL perpetual futures has climbed to $1.8 billion, with a notional exposure of around 23.1 million SOL at current prices.

This high leverage is being defended by traders who believe in the potential of Solana's network and its growing activity.

However, experts warn that this level of leverage can be fragile, and if spot demand does not catch up with it, the expensive long positions can turn into sell pressure.