ChainCatcher reported that, according to Coinglass data, BTC’s current network-wide average 8-hour funding rate is 0.0015%. The figure refers to the funding rate level for Bitcoin perpetual contracts over the current 8-hour cycle.
Funding Rates Differ Across Major Exchanges
Among the major exchanges listed in the data, Binance shows a BTC 8-hour funding rate of 0.006%, OKX stands at 0.0001%, Bybit is at -0.0047%, and Gate is at 0.0022%. Compared with the network-wide average of 0.0015%, Binance and Gate are above the average, OKX is close to zero, while Bybit is in negative territory.
In terms of direction, the BTC funding rates on Binance, OKX and Gate are positive, while the rate on Bybit is negative. A positive funding rate generally means longs pay shorts, while a negative funding rate means shorts pay longs. The figures above apply only to the current 8-hour cycle reported by Coinglass.