Regarding the funding fee issue, I've roughly found the reason: Currently, I've noticed that Binance's PEPE spot price is 1%-1.5% higher than other exchanges. This is because Binance's PEPE was stolen by hackers and dumped on-chain. Binance needs to buy back the corresponding amount of PEPE to return to users, resulting in a premium. Furthermore, because Binance is currently unable to process withdrawals, a lot of funds are stuck, so the premium hasn't been eliminated yet. The contract index weighting, with Binance spot accounting for a large portion, is causing a negative premium.