According to ChainCatcher, citing data from Coinglass, BTC’s current network-wide 8-hour average funding rate is -0.0004%. Among the listed major exchanges, Binance records a funding rate of -0.0047%, OKX stands at -0.0034%, Bybit is at 0.0006%, and Gate is at 0.0005%.
Funding Rates Vary Across Listed Exchanges
The data shows a split among the four trading platforms named in the report. Binance and OKX both show negative 8-hour funding rates, while Bybit and Gate show positive rates. Funding rates are generally used in perpetual futures markets as periodic payments between long and short positions. When the rate is negative, shorts generally pay longs; when the rate is positive, longs generally pay shorts.
Within the figures provided by Coinglass, Binance has the larger negative rate among the listed venues, followed by OKX, which is also in negative territory. Bybit and Gate are close to each other on the positive side, at 0.0006% and 0.0005%, respectively. The figures reflect the current Coinglass data cited in the ChainCatcher newsflash.