ChainCatcher reported that CryptoQuant analyst Crazzyblockk said the data shows Binance’s Bitcoin perpetual contract funding rate is about 370 basis points lower than the median level across three exchanges. This gap places Binance’s Bitcoin perpetual contract pricing meaningfully below the referenced exchange median from the perspective of funding rates.
Funding-rate spread sits in a low range
Crazzyblockk also stated that the funding-rate difference is in a low range of about 2.8% since 2021. Funding rates reflect the cost difference between long and short positions in perpetual contract markets. When the Bitcoin perpetual funding rate on one exchange is significantly lower than the comparison median, it indicates stronger short-side pricing in that exchange’s contract market.
Under the data framework cited by Crazzyblockk, Binance’s Bitcoin perpetual contract funding rate is about 370 basis points below the three-exchange median and falls within the low distribution observed since 2021. Crazzyblockk interpreted this as evidence that short-side pricing in the Binance market is clearly stronger. The information was reported by ChainCatcher based on the CryptoQuant analyst’s comments.