Squid lure and rod
Fit Crab Carcass from its mini island on the long Fishing Rod; Squid and Mahi-Mahi each take 11.8% of bites.
Fish it anywhere once you hold the bait.
Drip Squid
Drip Squid exists and rolls the base 10% (25% with the full Wishbone).
Expect about 85 bites per drip Squid, 34 with the Wishbone.
Squid sell price
Squid sells for €6, the top Crab Carcass price.