Data from crypto derivatives analytics platform CoinGlass shows that Bitcoin’s network-wide 8‑hour average funding rate currently stands at -0%, implying no actual fee transfers between longs and shorts.
Funding rates are a core mechanism in perpetual futures contracts, designed to keep contract prices tethered to the spot index. Every 8 hours, one side pays the other: when the rate is positive, longs pay shorts; when negative, shorts pay longs. A rate of zero, therefore, indicates that the contract price is virtually identical to the spot price and that there is no pronounced directional premium in the market. Typically, only when the absolute rate exceeds 0.01% does the cost of holding a position become meaningful.
Examining major exchanges, Binance’s rate is -0.0011%, Bybit’s is -0.0001%—both slightly negative—while OKX stands at 0.0002% and Gate at 0.002%, mildly positive. All readings remain far below the 0.01% threshold, reinforcing the picture of balanced positioning across platforms. Market participants are effectively trading in a low-friction environment where carry costs are essentially negligible.