ChainCatcher, citing Coinglass data, reported that BTC’s current 8-hour average funding rate across the network is 0.0016%. The figure refers to the average funding rate level for Bitcoin contracts during the 8-hour calculation period, a commonly used metric in perpetual futures markets on crypto exchanges.
The data also shows differences among major trading platforms. BTC’s current funding rate is 0.0025% on Binance, -0.006% on OKX, 0.0096% on Bybit, and -0.0041% on Gate. Within this set of figures, Bybit recorded the highest rate, while OKX and Gate showed negative values.
Funding rates are generally used for fee settlement between long and short positions in perpetual contracts, and rates can differ from one platform to another based on each exchange’s contract market conditions. The ChainCatcher item only provided the current network-wide average and the specific figures for Binance, OKX, Bybit, and Gate, without including other exchange rates or BTC price movement details.