SOON rises 3.3% in 24 hours… funding rate +0.0050%

SOON rose 3.3% over the past 24 hours on Binance’s perpetual futures market as of 5:25 a.m. on the 4th, with the funding rate at +0.0050%, indicating longs are paying shorts. Seandra data showed Binance’s SOONUSDT perpetual open interest at $11.5 million at that time, a single-exchange snapshot of outstanding contracts. Open interest reflects the size of unsettled futures positions and does not show spot trading volume or whether longs or shorts dominate. The move matters because rising price alongside positive funding and $11.5 million in open interest signals leveraged demand building in SOON derivatives. Next, watch whether open interest and funding stay elevated, which would indicate sustained positioning rather than a short-lived spike.