Can anyone explain Chainlinks insane funding fees on Bybit

I've never seen anything like it.

On Bybit every hour is -2% shorts paying longs and the price continues to go up.

Its #12 on coinmarketcap at $12 billion, for an absolute dog shit coin. But even if it goes to $0, a short position will likely lose money.

Also Bybit doesn't show you the funding fee easily, so you can easily loose 2% every hour without even realising it.

It's so manipulated, I'm just intrigued at how they are doing it.